Conference 7.286::dcu

    Good going, Ed!  I hope you make it.  I'm tempted to join you, but
    my schedule's already overloaded with committee meetings, et al.
    
    I agree that there's something fundamentally wrong in the way DCU deals
    with its members.  The current Board of Directors hasn't had any
    influence (that I can see) to improve things.  Either they've been
    buffaloed� by DCU management or they don't share the same vision of how
    DCU could/should relate to its members.
    
    � Given DCU's misrepresentations to its membership regarding Federal
      Regulation CC, I wouldn't be surprised if the BOD is treated to
      similar flights of fancy.

       Where do you work Ed? I'd like to sign your petition when you
    get it.
                                                      Denny

I'm located in Colo. Spgs, but what can I do to help?  Is there a way
I can sign your petition too?

- Jeff

    
    Me too.
    
- Sean

    I'd also like to help out, perhaps circulate your petition among
    my co-workers and DECcie friends. If you do distribute petition
    forms, also include a position paper: Things DCU has done wrong;
    what you'd do to correct them.

        Wait - Ed's not (yet) circulating a petition.  He will
        go before the nominating committee (a few people picked
        by Mark Steinkrauss, current DCU board chairman) first.
        If that committee decides he's a reasonable candidate,
        he'll be on the ballot.  If they decide not to put him
        on the ballot, then he'll have to circulate a petition
        if he still wants to get on the ballot.
        
        Good luck, Ed - I think you'd make a good board member.
        
Jim Stratton
        

	Ed, if you need to do the petitions, please send me one for
	you and I'll pass it around here in MR01.
	
	/Robin

    
    Jim's exactly right.  I have sent in their questinary, a copy of
    my resume.  I expect to go before the nominating commettee on
    December 8th.
    I have a couple of problems facing me
    first the timeing, I'll be on vacation for a month begining dec
    17th.  so if I don't get nominated, it'll be difficult to petition
    to get on the ballot.
    Second, I have NO banking experience, except for being a consumer.
    I don't expect that the commettee will look too favorable to that.
    
    As a consumer, I'd be weighing my decisions on how they'd affect
    the user vs how they affect the $$ to DCU [not that I'd neglect
    DCU profitablilty]
    
    I am certainly feed up with the secrets DCU is keeping.  I would
    NOT have heard about this call for candidates had it not been
    posted here.  Our local dec newsletter had nothing in it.

    I don't have any other adgenda.  I live about an hour and a half
    away from the BOD meetings.  I think a BOD position is basically
    thankless.  But if I could serve one term and see that they
    realize *we* were out there, I'd feel I achomplished what I went
    after.
    ed
    

good for you Ed, - go for it


(FWIW:  I'm wih you in spirit.  I did seriously consider it myself
this year, but my 10-week-old vetoed it.  maybe next year...) 

    If you would, please post a position paper and resume here.  You
    have caught my eye.  Just because you do not have banking experience
    is more the reason that you will do what's right for the members
    (I hope).
    
    As far as a petition, it might not hurt, to start now.  The selection
    committee will probably veto your request.
    
    	- mark

    Ed, do your candidacy a favor and get someone to be an editor for
    anything you write.  For those who don't see you face-to-face, people
    can only form a judgement by what they read about you.

    
    I sent back my kit and was interivewed by the nominating commettee
    today.  I get the impression that 15-20 people are being
    interviewed.  Quite a job for that 3 person commettee.
    I don't think that it impressed them that I didn't think DCU was
    open with its members when I gave it as one of the reasons I wanted
    to run.  Due to the volume of entries, winners won't know until
    the 14th or 16th for results.  Petition papers available two days
    after that.  So from about the 18th of December until Jan 5, one
    has to get 800 signatures torun if this commettee rejects you.
    It was made quit clear that I CANNOT use the EASYNET to get
    a petition run.
    
    FYI some other points I brought up:
    
 o  use of 2[or some other number] access to cirrus net FREE/week for those
    members not working in a building/complex serviced by a DCU ATM
    or branch.
    
 o  openness by the BOD via communications like they had last Feb.
    
 o  ability of remote plant {colorado,etc} members to particapte
    on BOD.
    
 o  Competitive rates
    
 o  Hold on new programs until above could be achomplished.

    
    Well, I go on vacation the end of next week.  I thank all who gave
    me encouragement through this note and via mail.  I am sorry that
    I won't be able to go the petition route when/if I am rejected by
    this commettee.
    
    regards,
    ed
    

Sounds like a nice way to insure that only "the right people," in the eyes
of the committe, get on the board.    Why do you people continue to support
this corrupt union?

Bob

    
    I don't understand why you can't use the easynet for petition, is
    that a written rule?? 
    
    NJS
    

.12> It was made quit clear that I CANNOT use the EASYNET to get
.12> a petition run.
     
    and Re: .14
    
    My question exactly. I would like to see them stop a candidate from
    using the EASYNET to solicit signatures. At the least, this restriction
    would have to be in the bylaws, no? Was anybody ever able to get
    a copy of them? Are they next going to say that the U.S. mail system
    can't be used to solicit signatures? Or that the telephone can't
    be used?
    
    I also have to agree with .13's statement that it sounds like they
    are trying to keep the BOD membership restricted to the people they
    want.
    
    I'm not sure I'd use the word corrupt yet, but my feelings are starting
    to get pretty close to that word. Sigh.
    
    -Glenn-

    While I will not be here during the petition time, I was encouraged
    this morning to get it a try [assuming the commettee doesn't recomend
    me].  So, if there are people out there that would help in a petition
    drive, please *mail* me your name,et al, when petitions become
    available, I will make sure you get one to circulate along with
    what to do with it after.
regards,ed

Gee, the BOD members did not have any objections to using the ENET to do some
campaigning when they were running!!!!

And how can a group that is not a part of DEC dictate what can and cannot be 
done on the network?  I can see where DEC could make such a claim (non work
related use of the network, perhaps) but DCU?  See if the bylaws forbid it
and also see if you can get one of them to put it in writing that the ENET
cannot be used with a specific reason and their authority/justification in
making the restriction.

-Joe

    re: .12
    
    I hope they only meant that signatures must be handwritten, and perhaps
    on official forms, not that you can't use the Easynet to solicit
    signatures.  Only Digital Equipment Corporation has the authority to
    set policy for its internal network. 
    
    re: .12, .13, others
    
    The general procedure described seems like a fairly usual procedure for
    boards of this type.  There's nothing unethical, immoral, or corrupt
    about the procedure, and it serves a useful purpose, though it can also
    be abused. 
    
    The Board of Directors has a legitimate interest in seeing that its
    members have some degree of competance.  Remember that they all have to
    work together, and that they must work on banking issues, and general
    business issues.  If they need to spend inordinate amounts of time
    training a new director on basic concepts (such as compound interest,
    Federal Reserve, etc.), it becomes a drain on the other directors and
    renders the entire board less effective at doing their job. A director
    who doesn't understand any of the issues involved cannot participate
    intelligently, and therefore does no good for either the board or the
    general DCU membership. 
    
    A competant person who has drastically different views can accomplish
    very little.  Such a person will have great difficulty convincing
    the other directors to change their views.  More likely, the lone
    dissenter will be ignored.  If there is already dissent on the board,
    then a single person with some policitcal savvy can change things,
    but if the votes are always N to 1, then the dissenter has no power.
    The most someone could do in that situation would be to stick it
    out, and use the directorship as a platform to appeal to the general
    membership to change things, by voting out some of the other directors.
    
    Because of this, it is in the board's best interest, and ours too, to
    avoid having a potentially disruptive person on the board.  Since any
    organization always has some malcontents, the procedures quite properly
    make it non-trivial to get onto the ballot.  It's easy to find someone
    who wants to change things.  The trick is insuring that the membership
    is really disgruntled enough to want to change things.  Asking that
    that person demonstrate the support of a small percentage of the
    membership is resonable (800 sounds like a pretty small percentage to
    me). 
    
    Ed,
    
    I was all set to assert that if you can't figure out a way to get
    signatures on your petition while you're away, then you're probably
    not the right person for the job.  I'm glad to see you've reconsidered.
    Keep in mind that you are committing a noticeable chunk of your
    time for the next few years.  If you are elected, then depending
    on how well you get along with the other directors, your next major
    task might turn out to be getting additional, consumer-oriented
    directors onto the Board.  So don't take this lightly.  You need
    to be willing to work at getting elected, and to learn while doing
    that, since you'll probably have to run a campaign again.  Good
    luck to you.
    
       Gary

        re .17 and
        
>And how can a group that is not a part of DEC dictate what can and cannot be 
>done on the network?
        
        The Board, by definition, consists solely of Digital
        employees.  The nominating committee is also Digital
        employees.
        
        However, I don't believe these people are in any position
        to be responsible for, or have authority over, use of EASYnet.
        Further, I just re-read the Digital policy on "Proper Use
        of Computers...", and (in my opinion) nothing in there
        comes close to prohibiting using EASynet to get placed
        on the DCU Board.
        
Jim Stratton
        

re:.18

Good points, but if the BOD is so competent, why are there so many people
who are dissatisfied with the DCU, and why are so many of the DCU's policies
so far off the mainstream of the Banking Industry?

Bob

                I suspect that in reality, using the Easynet to solicit
        signatures and to co-ordinate the getting of signatures would be
        OK. What I think they were opposed to (without being able to
        articulate it) was the actual obtaining of signatures over the
        Easynet. i.e. - a mail message from me saying I support you,
        even if "signed" with my full name, would not count. My signing
        a real piece of paper that you sent me and my returning it (even
        though you asked me to sign that paper via Easnet) would be
        perfectly OK.
                
                /s/     Bob

re:    < Note 143.18 by TOKLAS::FELDMAN "PDS, our next success" >
    
    
   > The general procedure described seems like a fairly usual procedure for
   > boards of this type.  There's nothing unethical, immoral, or corrupt
   > about the procedure, and it serves a useful purpose, though it can also
   > be abused. 

    Two aspects of how DCU implements this procedure are questionable:
                                        
    Notifying the membership of the nomination period:
    Was the only notification via DTW? Technically, this isn't even
    guaranteed to reach the entire membership (a possible violation
    of the oft-quoted by-laws?).
    
    Collecting signatures between 12/18 and 1/5:
    Many people are on vacation/visiting family/away from the office
    during this period. It includes 3 of 10 DEC U.S. holidays. 
    
    I am reluctant to believe the choice of this time period was
    coincidental. 

re:.20

>Good points, but if the BOD is so competent, why are there so many people
>who are dissatisfied with the DCU, and why are so many of the DCU's policies
>so far off the mainstream of the Banking Industry?

I think most banks are as bad as DCU or worse.  I've written to so many
regulatory authorities about banks screwing up that I've lost count.
I think incompetence in banking is the norm.  (But why are the errors
always in their favor?)

If you think DCU has lots of dissatisfied customers, try Citibank in New York.
The existence of an easy way to complain (this notesfile) makes it look
like DCU has more dissatisfied customers than other banks, but I think
this is misleading.

    Re .23:
    
>   I think most banks are as bad as DCU or worse.
    
    That may be true.  The missing point is that as a DCU "member", I have
    the right to expect DCU to be significantly more responsive to my needs
    than a commercial financial institution might be.  When DCU proves to
    be LESS RESPONSIVE (and it has), then I get downright testy. 

    I must agree with an earlier reply author. This notesfile is a view of
    only a small window of the total DEC population, let alone the DCU
    member population. The question is "Are the opinions expressed here by
    that population fraction, representative of the DCU member population as
    a whole?" (Remember those DCU members that do not have network access,
    or direct physical access to a branch, or who are otherwise not DEC
    employees (ie spouses)). 
    
    Further, this communication medium enhances a particular style of
    semi-personel interaction, that is sometimes "...brutally honest..."
    to quote John Tilly's parting memo herein.
    
    I deal with many financial institutions for my own money services. It
    is at least noteworthy that the DCU is willing to psuedo-participate in
    this communication medium. A "risk" that most other institutions would
    not dare try. 
    
    I do wish the answers had a little more "meat on the bones" though.
    
    Carl

    >    member population. The question is "Are the opinions expressed here by
    >that population fraction, representative of the DCU member population as
    >a whole?" (Remember those DCU members that do not have network access,
    
    Good question.  I have been at two sites (MKO and ZKO).  In both
    groups I have been at, I have yet to hear anyone say good things
    about DCU.  Total of 200 people of which 30 I happened to get on
    the subject of DCU, were displeased...  It would have been interesting
    to talk to the other 170 and see what they thought.
    
    My expierence has been that people have accounts at DCU because
    it close by, not because of the people and how they are treated.
    The people I have talked to have thought of leaving but haven't.
    Why?  Because I can walk down the hall and have access, but if they
    had their druthers, they would not use DCU...
    
    	- mark

Granted, not a scientific survey, but just about everyone I've talked
with tolerates DCU because of the convenience, but if they had a
similarly convenient alternative they would take it.

- Jeff

    
    RE: .26, .27
    
    That's exactly what I believe too!  I also believe DCU KNOWS that
    people are hooked on the convenience and will "tolerate" whatever
    they decide to do and however they decide to do it.
    
    Something I've wondered about the DCU BOD.  Have any of the incumbents
    actually ever been replaced? (other than by not running again) 
    It would be nice to limit these positions so that they weren't
    "lifetime" positions.  In my opinion, a BOD that knows it has little
    or no chance of being voted out, could very easily lose its
    responsiveness to the "members".
    
    Phil

       How do the members go about changing the Charter? Is it possible?
                                                         Denny

    re .28
    
    You have just hit on a political reality.  The incumbent in any
    political contest generally is at an advantage.  This has proven
    very true in state and federal government.
    
    I would have to agree with the limit on terms.  It never hurts to
    have some fresh blood once in a while.
    
    Ed..
    

    re: competence
    
    My guess is that the current Board judges its own performance on
    the basis of some bottom-line financial metric.  My understanding
    is that the DCU is, if nothing else, financially very sound.  
    
    This doesn't mean I think it's all right to ignore member satisfaction
    as a metric, nor do I believe that conservative, low risk policies
    are necessarily in the best interest of the membership.  Nevertheless,
    if my understanding of the financial position of the DCU is correct,
    I have to respect the Board's competence at achieving the particular
    goals they've set for themselves.
    
    re: process
    
    I don't remember where I saw that candidates for BoD are now being
    solicited, but I'm sure it was in some official DCU mailing.  So
    I don't think the complaint about the notice in DTW is valid.  
    
    The complaint about the time period chosen for circulating petitions
    is well-taken.  The choice of time may be deliberate, or it may
    be innocently derived from dates specified in the charter for the
    election of officers.  Either way, it does affect candidate's ability
    to get signatures.  Would a valid workaround be to circulate petitions
    earlier, before the official period?
    
       Gary

    
    It should come of little suprise that I am not one of the six
    candidates that the nominating commettee choose.  I don't regret
    having tried.
    
   I AM IN  TOTAL DIAGREEMENT WITH THIS PROCESSES!  It puts a big stigma
    on the person running by petition, I mean after all,that candidate
    wasn't good enough for the commmettee!  If this note also get sent
    to the board, I challenge them to respond on the commettees 
    judgement criteria.  Why did I loose vs one of the six they choose.
    If one person has to get 800 signatures, WHY NOT ALL CANDIDATES
    RUNNING?
    
    Why not give the petitioner more time.  I leave for Florida on
    friday.  I was notified today (Thursday).  I'd have about 12 working
    days if I were around here.  Again today I was warned against using
    the ENET for any petitioning.  to mail out the petitions to remote
    sites and them return you further eat into those 12 days.
    
    If anyone is reading this and thinks I should have run, may I suggest
    the following: take out a piece of paper, write the words "we support
    effort of Ed Badger to run as a petition candidate for a position
    on the BOD", get as many people as you can to sign it [dcu members],
    mail it to DCU headquarters in Maynard, also send a photocopy to
    me at MK01-1D28.  Weither or not we get 800 signatures and it is
    legal or not, maybe, just maybe we'll be heard.
    
    anyone game?
    
    ed
    

       As I asked before, is there a way for the members to change the
    by-laws in order to make this archaic process simpler?
                                                          Denny

Unfortunately, I believe the # of signatures is in the laws that 
charter credit unions.  I'm sure the time period is more negotiable.

By not selecting Mr. Badger, I think the DCU BOD is sending a clear 
message to this notesfile.  Let's look forward to welcoming them when 
the candidates starting writing their election pitches here.

And lets all get those petitions going!

    As my car heads southward, I'll be thinking of you when I hear of
    snowstorms.  ;-)   Petitions are in the mail.  We have until Jan
    13th to complete the process.
    
    On another note, lets be fair to the people on the nominating
    commettee.They did spend a lot of their time on the process.  Just
    maybe there are some people choosen that agree with us.  Lets be
    prepared to go to the annual meeting and suggest change.  Lets do
    all we can to better the system in any means we have available.
    Lets elevate DCUs name.
    
    keep warm,
    ed badger

>    days if I were around here.  Again today I was warned against using
>    the ENET for any petitioning.  

So, exactly who did this warning and exactly what is their authority to do
so?  The fact that they may be employees of DEC does not (necessarily)
give them any right to make such a restriction.  Did they give you a reason
for it being 'restricted'?

>    effort of Ed Badger to run as a petition candidate for a position
>    on the BOD", get as many people as you can to sign it [dcu members],
>    mail it to DCU headquarters in Maynard, also send a photocopy to

Something tells me that they will get you on some technicallity, like the 
DCU members signing the petition MAY have to provide their badge numbers 
as well.  Without them, there may be a problem with verifying the membership
of the people signing (or if they can do it by name alone, it seems that
it would be a time consuming process [whehter it really is or not] and will
push you over the time limit.

-Joe

	Well, I recieved Ed's petition today in the interoffice mail.
	I see he is gone on vacation.  Does anyone have a resume, or
	something saying who he is, what he does and why he thinks he
	should be on the BOD?  I'd like to show this to people when
	I ask them for their signatures.
	/robin

       I have Ed's petition, if anyone in NIO is interested in signing
    it please stop by my office. I'm between Poles J14 and J15. Right
    down the aisle from the Want-Ad bulletin board outside personnel.
                                                         Denny

    
    I also received a petition for those of you in the Boxboro area who'd
    like to see Ed run.  
    
    BXB2, Floor 2, Pole F-8.
    
- Sean

    Likewise anyone in the Littleton area...
    
    TAY2, Floor 2, Pole N7
    
    -Jon

    I also have a petition at BXB1 in Boxborough.
    
    First Floor, Pole C1 (north end of building).  I've made some copies,
    if anyone wants to take them back to their groups.

	I have the petition also.  I'm at MR01-3/J4 (j4 is right in my
office.)  I'll be on vacation next week, so I'll leave a copy out on
my desk.  Feel free...

			/Robin

Regarding the question of solicitation, you may be interested in the
following from the Personnel Policies and Procedures Manual:

Section 6.19, SOLICITATIONS AND DISTRIBUTION OF LITERATURE

    It is Digital's policy that all employees are not to solicit other
    employees for any purpose during working time.  Working time does
    not include break time or meal time.  Digital employees are not
    permitted to distribute literature of any kind and at any time in
    working areas.

    [ Another paragraph follows about non-employees. ]

Section 6.54, PROPER USE OF DIGITAL COMPUTERS, SYSTEMS AND NETWORKS

    [Second paragraph]
    ... Examples of misuse could be ... soliciting other employees ...


It is not clear to me what what would be allowed and what disallowed
by these policies in the present case.  My own opinion, for what it's
worth, is that notes entries would be fine but direct electronic mail
would not be.  Forwarded mail might be ok, though, depending on the
distribution list.  It's all hazy, which is good.  Remember the First
Rule: Do the right thing.  (I have no special status to offer any
opinion, by the way.  You have to decide for yourself.)

    	Nope.  The DCU works just fine.  Altho I've only been a member
    since they started in Colorado, they've done all good & not much
    bad.  There are a lot of us who like'm just fine.
    
    Keith

    I also have a petition's.  ZKO3-4/Y36 and ZKO1-3/D16.
    
    	- mark

    RE: .33
    
    I quote from the National Federal Credit Union Bylaws, revised 10/86,
    as follows:
    
    "This copy of the Federal Credit Union Bylaws is similar to the
    official bylaws under which most Federal credit unions now operate.
    Unless adopted by the board of directors ... is a reference copy
    and not official."

    It would appear that DCU did do this (adopt these bylaws). 
    
    "Article xxi. Amendments of Bylaws and Charter"
    
    "Section 1. Amendments of these bylaws may be adopted and amendments
    of the charter requested by the affirmative vote of two-thirds of
    the authorized number of members of the board at any duly held meeting
    thereof if the members of the board have been given prior written
    notice of said meeting and the notice has contained a copy of the
    proposed amendment or amendments. No amendment of these bylaws or
    of the charter shall become effective, however, until approved in
    writting by the NCUA Board."
    
    No other reference to changing the bylaws is contained in the NCUA
    document.

    For those of you with outstanding petitions, the deadline for
    submission is 10:00 am, Friday, January 13, 1989. 

    
    I warm thank you for all that helped me with the petitions.  We
    lacked enough signatures to go any further.
    
    Let us concentrate on examining the candidates that did make the
    ballot.  I suggest that we as a group establish a list of questions
    that we could send to each candidate.
    
    During this time period, I've come up with a few ideas that I'd
    like to share with the new board.  I plan on addressing the board
    soon after the election, and quit possibley addressing them at the
    annual meeting.  If this comes about, I'd like to encourage other
    members to attend with me.  
    
    My theme for running was going to be on equality between members.
    It starts with the selection of members to run.  I don't think that
    800 signatures is a burden for anyone to get, so why not require
    EVERY candidate to get that number instead of a nonminating commettee?
    [I know I didn't achieve that number, however, I feel I  could have,
    had I been around for at least one week during the process].
    We can continue the equality issue to ATMs and branches and remote
    locations.  I believe that each member should have free acess to
    their money regardless of where they work.  I would suggest that
    the board study allowing a certain number of free weekly acesses
    to Cirrus (tm) ATMs for those not near a branch or DCU ATM.
    
    
    We need to make DCU competitive with other credit unions.  We are
    earning less interest and paying more for loans.  WHY?
    
    I would also cry for HONESTY in all DCU dealings!  No coverups,
    no non-disclosures.  The kind of dealings DCU has done in the
    past could only promote hostile feelings.
    
    The BOD needs open communications with its DCU members.  Not to
    hide via front men [pr people].  We should know that time/dates
    of BOD meetings, be allowed time to address the BOd.
    
    
    Enough, I'm not running this year.  I don't think our time went
    to waste.  We caught their attention.  They know we're here.

    Regards,
    ed badger

    Re .49:
    
    It was a good try, but the cards are stacked against candidates
    by petition.
    
>   Let us concentrate on examining the candidates that did make the
>   ballot.  I suggest that we as a group establish a list of questions
>   that we could send to each candidate. 

    What's more to the point is to establish a CONTINUING line of
    communication to the board members.  If they don't perceive that
    there are problems, they won't do anything to correct them.
    
>   Enough, I'm not running this year.  I don't think our time went to
>   waste.  We caught their attention.  They know we're here.

    Be thankful for small favors.  I do believe you're right about that.
    A few minutes after I turned in my tiny chunk of petition, I asked
    where I might go to peruse the bylaws [as provided by law].  Instead of
    the "you can't" response I'd received in the past, they took my name
    and address and mailed me a copy the same day.  (They're truly strange
    reading, but I'll save my comments thereon for another note.) 

       Who no 'official responses' lately? Are they ignoring us?
                                                   Denny

        Re: .49
        
        I don't think it's over till all of the ballots are counted. I
        think we ought to use this conference to examine those running,
        and to withhold our votes from those who will perpetuate the
        current DCU policy. The only way to do this may be to not vote for
        anyone on the ballot, and write in our own candidate. Ed, are you
        still interested? 
        
        BTW, since I'm in the Chicago area, I never saw ANYTHING in ANY
        publication from the DCU telling me that the elections were
        comming, or how to run for the BOD myself. Would some sore of
        legal action on this matter be appropriate? 
        
        Remember, vote early, vote often, and vote AGAINST the incumbents. 

    I would argue (and have elsewhere in this file) that if it is very
    difficult under the current rules - and it is - to elect a BOD that's
    responsive to the members, then the right thing to do is change the
    rules so it *isn't* so difficult. 
    
    A credit union is a non-profit organisation.  It should exist to serve
    its members and ONLY its members.  Not its management, not the outside
    organisation(s) with which it's affiliated, just the members.  It
    should use its non-profit leverage to pay slightly better than
    prevailing interest on deposits, be the easiest credit source for
    members, and require slightly less than prevailing interest on most of
    the loans it makes.  Is that what DCU is doing today?  If not, why
    not?  ...and what IS it doing instead?
    
    						=maggie
    

re .53:

>    It should use its non-profit leverage to pay slightly better than
>    prevailing interest on deposits, be the easiest credit source for
>    members, and require slightly less than prevailing interest on most of
>    the loans it makes.

    Unfortunately, these goals aren't necessarily compatible.  If DCU
    is the easiest credit source for its members, there will be more
    bad loans.  DCU is headquartered in the region with the highest
    interest rates on CDs, but many (?) of its members are in other
    regions.  With what region's banks should DCU be competitive?
    (It certainly isn't competitive with banks in the GMA on either
    CDs or money market funds).

    I agree that it's not possible for DCU to have the best position in all
    three areas, but it should be possible to be fractionally better than
    the local average in all or substantially better in one or two.  In
    theory, we are the owners of this institution and as such we should be
    seeing the benefit of that ownership in some discernable way.  Are
    we?
    
    Many financial institutions have clients who live outside the area in
    which the institution is located, but the competition is always
    carried on locally.  Thus, our folks in e.g. Palo Alto have at least
    the theoretical advantage of being able to choose between a local
    bank and the DCU according to which offers the best advantage.
    
    Are we getting the advantages of ownership?  What are they?
    
    						=maggie