Conference 7.286::dcu

329.0. "Official SECRETS/Strategy Note" by NECSC::ROODY () Fri Oct 18 1991 20:24

** Official note to notify BoD of member Strategies and Tactics **

*** Note:  This will better facilitate BoD's countermeasures and 
           dis-information efforts ***

*** Note:  This note is not entirely serious ***

    I probably should just kill this and not post it.  I really don't want
    to offend anyone or belittle their concerns...  But at the least (well,
    maybe not "the least"), I  should probably state at the outset that I
    have a rather warped  sense of humor.  

    Oh well, that said, I'm personally finding this sickly amusing.  
    Lets see now, in this conference:

  Did Happen (:^(<):
    -- Someone suggests Livewire; Livewire access disappears
    -- Someone suggests finding the room size; the information becomes
       restricted
    -- People are convinced that "held" means one thing; BoD decides otherwise

    Could Happen (%^)>): 
    -- Someone suggests tiny tape recorders; security
       can check with metal detectors (security will be there in force - they
       wouldn't want a riot  would they?) - they can also perform strip
       searches of individuals on the "black-list". 
    -- Someone suggests getting there early; now what if the signs don't go
       up or doors don't open until 7:15?  What if they "accidently" post the
       wrong room?  Or the wrong hotel?
    -- Someone could suggest a "sit-in" with folk music and love beads; the
       BoD shows up wearing flak vests, gas masks, and MACE clipped to their
       belts; they can't hear the "yay" votes and the vote fails.

    If the magical mystical "BoD" wanted to do nothing more than yank the
    collective chains of those reading this file, they would be doing
    nothing differently.  I'm sure they are having quite a laugh at this (in
    their own Dan_Quale/Pee_Wee_Herman kind of way).

    Lets face it, the "BoD" does hold the cards here.  They pay the lawyers,
    they pay the hotel, and they pay the rent-a-cops.  They also hire
    ex-members of the NCUA and contribute to the NCUA future employee pool;
    but I digress.

    Ultimately though, no matter what happens, there will always be enough 
    happy-go-lucky members to keep the DCU afloat and pay the staffing fees.
    And I personally believe they know this.

    Now what can we do?  I propose we establish fortwith a secret and
    absolutely confidential plan.  This plan should call for everyone to form
    their own credit union.  This will insure that each person has their
    money in a credit union which has a BoD more agreeable to the membership.
    Of course, the BoD's will always know what their members are up to, but
    this can be overcome by a Notesfile dedicated to each Credit Union.

    Additionally, you won't have to worry about your funds being invested
    anywhere you don't feel comfortable, and they can even be insured by a
    federally recognized individual's insurance fund.  For example, Greg's
    Credit Union will be insured by the GCUA (Greg's Credit Union
    Association); the IRS personally recognizes Greg every year by sending
    him a stack of forms.  (Note, the GCU is an Equal Opportunity Employer)

   So lets post all strategies here.  Really, the BoD would never do anything
   with this information.  Really, they wouldn't.  I'm not making this up.    

/greg

PS - The GCU is not affiliated with, or in any connected to, the opinions
     stated here.  Any similarities or likenesses to individuals or
     organizations, living or decaying, are entirely coincidental.  Your
     mileage and interest rates may vary.

    GCU (uR) is a non-registered trademark of Greg
    

I was going to decry your idea as hopelessly impractical, on the grounds
that it will be hard to manage to cash flow at GCU -- if Greg decides to
give himself a mortgage on Cape Code commercial real estate, that will most 
likely exceed the funds available in the GCU for investment.

Then I realized that ordinary credit unions solved this problem long ago.
GCU can keep 10% to 25% of the "investments", and allow one or more other
credit unions to "participate" by putting up the bulk of the money.  

The really neat part about this scheme is that, according to the DCU BoD,
it is standard practice to *not* check any of the statements that GCU makes
about the loans!  Of course, if GCU were to make any false statements on
the loan forms, that could cause trouble -- but only if some GCU loans
go into default.  Until then, the GCU is in no danger of discovery. 

And even then, it appears that civil lawsuits may be the worst that the
GCU has to face -- and even that step could take a long time after the
loans first start going bad, depending on... well never mind.  

Come to think of it, the whole scenario is too riddiculous to possibly
happen.  I mean, the NCUA wouldn't allow it, and if the members of the
participating credit union found out, they'd be pretty upset, wouldn't
they?  And the big disadvantage of a personal credit union like the GCU is
that the member really is an owner, and therefore knows what's going on.

So while all this makes an interesting story, I have trouble believing
that it could happen in real life.

	Enjoy,
	Larry :-)

    
    RE: Greg's Credit Union
    
    I want to join.  One of my CD's with DCU expires today and it goes
    elsewhere, for now.  The sorry fact is that I trust a complete stranger
    more than I trust the DCU BoD.