Conference 7.286::dcu

Full candidate statements are there. The moderator has indicated in
Note 1.18 that he welcomes postings by any candidate - petition or
otherwise. 

I sincerely hope the other candidates take him up on the offer.

Gim - A petition candidate.


Directory GONAVY::DISK$2:[DCU]

ELECTION_JOINT_STATEMENT.TXT;5
ELECTION_STATEMENT_DAWKINS.TXT;2
ELECTION_STATEMENT_GILLETT.PS;1
ELECTION_STATEMENT_GILLETT.TXT;1
ELECTION_STATEMENT_GRANSEWICZ.PS;1
ELECTION_STATEMENT_GUPTA.PS;1
ELECTION_STATEMENT_HOM.PS;1
ELECTION_STATEMENT_HOM.TXT;1
ELECTION_STATEMENT_KINZELMAN.PS;1
ELECTION_STATEMENT_KINZELMAN.TXT;1
ELECTION_STATEMENT_LUCIANO.TXT;1
ELECTION_STATEMENT_ROSS.PS;1
ELECTION_STATEMENT_ROSS.TXT;1
ELECTION_STATEMENT_THOMPSON.PS;1
ELECTION_STATEMENT_THOMPSON.TXT;1

Total of 15 files.

    I believe that you can best tell about a person's future performance
    based upon their past performance(s).  I have posted some information
    about myself in note 430, but will attempt to add to it here.
    
    I have been with Digital for 15 years.  I began in Chicago as a
    terminal specialist after serving in the US Navy as a Display Tech. 3rd
    class.  I worked in several positions for Digital and am currently a
    Unit Manager at the Customer Support Center in Colorado Springs.
    
    Since I first purchased a home at the age of 20, I have been involved
    in the communities in which I have lived.  Since I believe that past
    performance is an indicator of future potential, I will talk about what
    I have done in the past, then switch gears and talk about my
    commitments for the future.  Also, to be clear, I am running on my own
    merit and am not connected to any group - either the nominated
    candidates or the candidates running under the "REAL CHOICES" banner. 
    I hope to be elected on my background and potential and will not engage
    in any negative comments about any other candidate or group of
    candidates.
    
    At the age of 20, I bought my first house in a suburb of Chicago, a
    community of 15,000 people.   I served my community in many roles,
    first as the President of the Dolton-Riverdale Jaycees, State
    Vice-President for Individual Development for the Illinois Jaycees and
    a State Project Chairman.  In 1983, I was recognized by the Illinois
    jaycees as "Outstanding Local Chapter President" and "Outstanding State
    Project Chairman".
    
    In 1984, I served on the Illinois Governor's Committee on Private
    Sector initiatives, sub-committee on Essencial Human Needs.  While on
    the committee, I authored a proposal to establish a state wide
    clearinghouse for information on emergency food, housing and clothing,
    as well as other essencial needs services.  The following year, the
    State legislature funded $250k for a trial system that I understand is
    still in place in Illinois.
    
    In 1985, I was recognzed by my community for my service with the
    "Distinguished Service Award".  Other capacities I served in was
    President of the Riverdale-Dolton United Way, President/Chairman of the
    first Economic Development Committee in Riverdale, elected President of
    the Riverdale Park District, Trustee of the Riverdale Police Pension
    Fund and member of the Tri-City Blood Commission where I personnally
    donated 5 gallons of blood over a 9 year period.  I was also recognized
    as one of the "Outstanding Young Men in America" in 1982, 1983 and
    1985.
    
    In 1987, I was elected as a Village Trustee in Riverdale.  During my
    time on the Board, I served as Chairman of Appropriations and Finance
    with a $5 million budget.  I was instrumental in changing the Village's
    book keeping methods and development of appropriations, increased the
    Village's public works bonding authority and helped in the creation of
    our first working cash fund.  I then trained as a volunteer Fire
    Fighter to gain a better understanding of what value our 40 person VFD
    added to our community and was later appointed by the Mayor to head the
    Fire Department and Inspectional Services.  I nominated that Department
    to be recognized for a Govornor's Home Town Award for volunteerism, and
    they were so recognized in 1989.  I also instituted an employee
    recognition program as well as an employee assistance program.
    
    Since moving to Colorado three years ago, I have once again active in
    my community.  In 1991, I certified as an Emergency Medical Technician
    while I served as a volunteer Fire Fighter/EMT.  I am a member of the
    American Red Cross/Pikes Peak Chapter, Disaster Services team.  I was
    appointed by the County Commissioners to serve on a county wide
    planning committee and am a member of the Calhan Lion's Club, as well
    as the Non-Commissioned officer's Association at the US Air Force
    Academy.
    
    So much for the accomplishments over the past 14 years of my life.  At
    the age of 34, I plan on continuing this track record and hope to do so
    as a Director for the DCU.   As stated before, I only represent myself
    in this election.  I would like to express a set of beliefs that I
    follow, and will continue to follow, long after the election is
    history.
    
    I believe in open and honest communication and will make every effort
    to insure what I say is truely representative of how I feel and what I
    believe.  I think the success of the DCU is dependant upon the
    involvement, creativity and dedication of its employees and membership. 
    I hope to contrinue to an environement where information is freely
    shared and communication is a two way street.  I will take actions
    which I believe to be in the best interest of the membership at large,
    not what may be the politically expediant or easiest path to follow.  I
    will support clear and timely communications from the Board, insuring
    thatwe are consistant in our policies and procedures.  I personnally
    hope to provide the "path of least resistance" in communications with
    DCU membership.
    
    You may feel free to contact me directly if you have any questions
    about where I stand on any specific issues.  I have voiced my opinion
    on issues in the medium, and will continue to do so after the election.
    You can also feel free to call me at home (719)749-2270.  I have a
    recorder on my phone if I am not home.  You will only hear a selection
    of different music (music I enjoy) when you call.  Those that know me
    know I hate voice mail and recorders, but also understand that they are
    required at times.  I will respond to all calls within 24 hours.   I
    know this was wordy, but I thought that this was what .0 was looking
    for.
    
    
    

You sound qualified to me!

Did the Nominating Committee give you any reason for not putting you
on the ballot?

    Thanks, Bill!  I appreciate your comment.
    
    To answer your question, I did not present myself to the nominating
    committee.  After I saw the selection of folks that were nominated, I
    decided that I could contribute effectively while broadening the
    potential BoD candidates representing other than the GMA.  I am very
    happy with the route I have taken to the ballot, because I do not owe
    my being on the ballot to a small group of people, but to a larger group
    of people that helped with the gathering of signatures on my behalf.
    
    We will see what the election brings.  I have faith that the membership
    will choose those that it wants to serve them, regardless of how the
    cards have been dealt.
    

From:	DZIGN::DAWKINS      "TANYA.L.DAWKINS, ESB FINANCE, 223-2234" 11-MAR-1992 09:16:41.47
To:	ERLANG::MILLEVILLE
CC:	DAWKINS
Subj:	RE: DCU BoD statements

you have my permission.

Regards,

Tanya Dawkins

        TANYA DAWKINS 

        A "REAL CHOICE" Candidate.  My most important effort will be 
        to re-establish the Board's integrity and to regain member 
        confidence that the Board is elected to serve DCU member needs. 

        I stand for open and honest DCU communications, competitive 
        rates, increased membership involvement, and improved customer 
        service.  Increasing DCU's low capital ratio is also paramount 
        while holding the line on account fees. 
      
	My past experience as a Commercial Bank Examiner in Texas 
	uniquely qualifies me for Board duties.  In that capacity, 
        I regulated banks with assets ranging from $4 million to 
        $1 billion with responsiblity for loan review, auditing, 
        and operations analysis.  I was in charge of evaluating the 
        banks' asset quality, liquidity, earnings, and capital 
        adequacy, as well as determining the competence and integrity 
        of management.  
       
	My education consists of a Bachelors degree in Finance and a 
        Masters in Business Administration.  

        In summary, I will make a positive difference.

	

From:	MADCAP::HOM "Gim Hom MLO 5-2/G1 223-7044  11-Mar-1992 0930" 11-MAR-1992 09:30:42.81
To:	ERLANG::MILLEVILLE
CC:	
Subj:	RE: DCU BoD statements

You have my permission...

Gim




   Gim Hom, MLO 5-2/G1 DTN 223-7044 - Petition BOD Candidate
   
   I work in Workstations/Server Engineering Group and have an excellent
   understanding of money management including measurement of interest,
   yield rates amortization schedules, bonds and related securities.
   Since my background is not financial, my election to the DCU BOD would
   certainly add diversity to board.  (The nominating committee has
   selected 9 candidates for 7 positions on the DCU BOD.  If no other
   candidates run, the nominating committee will have, in essence,
   selected the BOD.)
   
   If elected as a BOD member, I pledge the following:
   
   � Seek improvement in the customer satisfaction level.  That doesn't
     mean easy credit but it means:
   
        -  quick and courteous responses to loan applications,
           mortgages, etc.
        -  full and timely disclosures so that there are no surprises
           in processing loans, depositing and clearing checks, etc.
        -  openness in dealing with the membership.
        -  Both financial metrics (such as equity/asset ratio) and
           customer satisfaction are equally important. What good is a
           credit union if services are so poor that members seek
           loans elsewhere? Would a good equity/asset ratio matter
           then?
   
   � Review and change, if appropriate, the strategic direction of the
     DCU.  (For example, some mortgages are sold completely, including
     servicing to a third party.  There is no difference, in this case,
     between the DCU and a mortgage company.  Is this appropriate? What
     would it take to make the DCU a best in class credit union that can
     lend to its members at 8% and offer its depositors 6% interest? This
     goal may not be achievable; if not, why? In the early 1980's the DCU
     was able to pay a higher interest rate than commercial banks.)
   
   � Restore control of the DCU to its members by changing the bylaws so
     that membership approval is required for bylaw changes.
   
   � Help restore membership confidence through timely and extensive
     communication.
   
   � Review and implement, if appropriate, alternative services (and
     schedule of fees) to its member at remote sites.  For example,
     members in the greater MA/NH area have easy access to DCU ATM's
     machines.  Why can't members at remote sites have a lower fee
     schedule for non-DCU ATM's?
   
   � Review, clarify and publish (to degree possible under the law) the
     DCU investment policy.
   
   � Review lending practices resulting in the current non-performing
     loans and ensure that policies and procedures are put (if not
     already) in place to prevent such an event from occurring again.

   
   
   � Participate in notesfile and VAXmail communications to the degree
     permitted by law.  (Per DCU Candidate Certification form: "Consider
     the business of the DCU and its members to be confidential in nature
     and not betray my trust by indiscriminate discussion that might prove
     harmful to them.")
   
   I will release, upon membership request, information on any loans made
   by the DCU to myself, my immediate family or any trusts where the
   trustees are the forementioned.
   
   I am a petition candidate running as A "REAL CHOICES" Candidate.

   Personal Background:
   BSEE/MSEE - MIT,
   MS Management - MIT Sloan School.
   Hold two patents. 13 years at Digital.
   
   Avid runner; help start the Digital Running Club.  I will be happy to
   discuss my thoughts as well as answer any questions.  You can reach me
   at WRKSYS::HOM or Gim Hom @MLO, DTN 223-7044.

From:	PLOUGH::KINZELMAN    "I'm running for DCU Board of Directors" 11-MAR-1992 09:20:36.49
To:	ERLANG::MILLEVILLE
CC:	
Subj:	RE: DCU BoD statements

I don't mind you posting it, but what I've got in there is the same thing
that's in my separate note someplace. I'd suggest a note per candidate might
be better so threads don't get mixed together.
I appreciate your interest in getting the word out, tho.



			Paul Kinzelman


   I am  running  for  the  DCU  board  of  directors because I believe the
   nomination  committee's  choices represent "business as usual".  I don't
   believe the nominated candidates will make the hard choices necessary to
   restore  the  integrity  of DCU.  The current board allowed the fraud to
   continue  for years despite earlier indications, and covered up the loss
   due  to the fraud.  This board designed the process to select candidates
   like  themselves.   Note also that two of the candidates were even board
   members during the loss and coverup.  Can we expect a real change?

   I have  been  employed  at  Digital  for  17+  years  and am currently a
   consulting  engineer.   During  that  time,  I  have shown my ability to
   advocate  for  the average employee's concerns to the top of Digital.  I
   seek  your  support  to  be  able  to  do  the  same  at DCU to make DCU
   responsive to members and to restore the integrity of DCU.

I advocate:

1. Immediate revocation of the information protection policy. Information
	will be available with minimal redaction to members for free.
2. Full top-to-bottom BoD directed audit of DCU for complicity in the fraud.
3. No more hiring of advertising firms. DCU communications will be
	straight and honest.
4. Consider pursuing reimbursement from the $3M bond due to the board's
	mismanagement.
5. Determine whether the Mangone lawsuit is cost-effective to pursue.
6. Take other steps as necessary to re-establish the desires of shareholders
	as top priority.

For more information please contact me directly or look at the BEIRUT::DCU
notes file.

	Paul Kinzelman		46 Priest St
	PLOUGH::KINZELMAN	Hudson, MA 01749-1744
	dtn 223-2605		508-562-3585
	MSO1-1/21H

From:	MRKTNG::MRKTNG::MRGATE::"A1::LUCIANO.RICH" 11-MAR-1992 09:49:28.65
To:	ERLANG::MILLEVILLE
CC:	
Subj:	RE: DCU BoD statements

From:	NAME: RICH LUCIANO  @TTB            
	FUNC: FABS/BOIS                       
	TEL: 264-2277                         <LUCIANO.RICH AT A1 at NUTMEG at TTB>
To:	NAME: VMSMail User MILLEVILLE <MILLEVILLE@ERLANG@MRGATE>

    Please feel free to do with this as you wish



Author:	RICH LUCIANO  @MKO            
Date:	29-Dec-1987
Posted-date: 11-Mar-1992
Subject: Ballot ii


    RICHARD LUCIANO
    
    In previous elections, I have run for the Board as an endorsed 
    candidate and have encouraged the membership to elect 
    non-incumbents.  I felt that a status quo directorate could lead to 
    dangerous situations and stagnant thought processes.  In retrospect, 
    my fears have been realized.
    
    This year, I ask the membership to vote for candidates capable of 
    regaining the trust of the membership, the creditability of the DCU, 
    and of delivering competitive rates and services.
    
    These objectives can be realized in a cost efficient, secure manner, 
    consistent with the changes occurring in the Digital population, and 
    open to the scrutiny of the membership.  
    
    My qualifications:
    	- Marketing Executive, Digital 
    	- Board of Directors, Polaroid Credit Union 
    	- M.B.A., Dartmouth College
        - B.S. Engineering, Northeastern University
    
    As a board member of the PCU, I have accomplished these objectives 
    for its membership.  If elected to the DCU, I will work to achieve 
    these objectives for you.
    
    
    

From:	LEDS::ROSS         "LISA DEMAURO ROSS, D&SG BUYOUTS FINANCE MANAGER **237-6595**" 11-MAR-1992 12:29:40.14
To:	ERLANG::MILLEVILLE
CC:	
Subj:	Yes please....I appreciate your assistance.




    Lisa Marie DeMauro Ross        BADGE#: 300364
      45 Myrtle Terrace, Winchester, MA 01890              DTN # 237-6595


            QUALIFICATIONS:
                    1. FINANCE PROFESSIONAL
                    2. WORK HISTORY:
                      A. BANKING EXPERIENCE
                      B. SUCCESSIVE CAREER ADVANCEMENT
                      C. SUCCESSFULLY DEMONSTRATED ABILITY TO ENHANCE
                          COMMUNICATION AND INTEGRATION ACROSS FUNCTIONS
                    3. D.C.U. MEMBER
                    4. COMMUNITY ACTIVIST

            REASONS FOR RUNNING FOR BOARD:
                    1.  RE-GAIN THE CONFIDENCE OF D.C.U. MEMBERSHIP IN THE BOARD
                    2.  RENEW SPIRIT OF COOPERATION BETWEEN BOARD AND MEMBERSHIP
                    3.  ENHANCE COMMUNICATION OF:
                           - PRODUCT OFFERINGS
                           - POLICY SETTING PROPOSALS
                           - THE FINANCIAL HEALTH OF THE D.C.U.

    It is critical for the new board to re-gain the confidence of the D.C.U.
    membership.  I propose that as a board member, I can renew the spirit of
    cooperation, and  I will propose ideas to enhance communication to the
    membership.   I will ensure open communication on strategy issues for our
    institution including policy-setting proposals, modifications to our product
    offerings and the soundness of your investments with the D.C.U.   I believe
    I could make great contributions to the D.C.U. by securing a position on the
    board.

    I have several years of banking experience that will benefit discussions of
    service offerings as well as the audit of proper banking operations.  My
    resume includes consulting work at Swiss Bank in Zurich, Switzerland, which
    required the evaluation and the subsequent proposal for the restructuring of
    the 'Product Management' Marketing Organization  to meet the new challenges
    in the competitive International Banking Services Market.  Prior to that, I
    held the position of  'Assistant to Vice President' at Key Financial
    Services, Inc. in Waltham (a division of Key Bank Corp.).  My tasks included
    the implementation of audit procedures and banking systems during the
    division's first year of operation as well as the evaluation product line
    diversification via competitive and strategic analysis.
    Since the completion of my M.B.A. in 1987, I have had successive positions
    in  finance and specifically to DEC, in Storage Finance, where I now work as
    a Financial Manager.  I have successfully demonstrated the  ability to work
    as an integrator and ensure communication and teamwork from non-contiguous
    groups.

    Through my outside interests, I am experienced with committee work and
    Robert's Rules.  I am actively involved in community affairs including
    membership in the Northboro Rotary Club Member where I am Secretary-Elect
    for FY1993 and I am also a Finance Committee Member for the Town of
    Winchester (3-YR Term FY91-FY93).

From:	AGUPTA::AGUPTA       "Abhijit Gupta" 11-MAR-1992 13:22:49.86
To:	ERLANG::MILLEVILLE
CC:	
Subj:	Statement

Dan,
	I appreciate your efforts in transcribing my long statement. I just
found only a two minor errors which I have corrected in the following statement.
Thanks again.
Abhijit


                                 ABHIJIT GUPTA
                             (508) 842-4782 (Home)
                              DTN 225-5774 (Work)
                                CNTROL::AGUPTA
                                  HLO1-1/Q10

I am expressing here my strong interest in seeking a position on Digital Credit
Union's board of directors.  I firmly believe that I could make a significant
contribution in improving the operations of the credit union and in restoring
the member's confidence in the board of directors.  If elected, I will push for
providing competitive rates for deposits as well as the loans.  Moreover, the
approval process for loans will be simplified and the DCU will be more in tune
with the financial needs of its members in terms of fees and services.  I will
also institute open and honest communication between the members and the board.
This will enable members to understand the major board decisions and the board
to receive valuable inputs from its members.

I have a Ph.D. in Electrical Engineering and my responsibilities as a Principal
Engineer at Digital's Semiconductor facility in Hudson, MA involves dealing with
people in various departments of the company.  For example, I am the Chairman of
the Technology File Maintenance Committee whose members come from diverse cross
organizational backgrounds, including Advanced Semiconductor Development,
Design, Package, Process, Quality and Reliability, Document Control and Product
Engineering.  I solicit information from these experts, review their concerns
and take appropriate actions to solve and/or improve the semiconductor opera-
tions of the company.  In my responsibilities, I have demonstrated the ability
to coordinate and drive many cross-organizational issues.  I have gained the
reputation of being a rational decision maker, by evaluating both positive and
any potential negative effects of my solutions.  Through comprehensive publica-
tion of the minutes of the Technology Committee meetings, I have demonstrated my
skill in communicating the sentiments and the reasons for the Committee's deci-
sions to wide audiences.  In a manner, I feel that the role of a Director's at
DCU would be similar to my present position i.e. overseeing the paid experts
(DCU employees) and setting the general guidelines and policies for the credit
union.

I served as the Treasurer for the Graduate Students Association at University of
Cincinnati for the two academic years (1985, 1986).  Furthermore, I do have a
strong grasp of fundamentals of business and financial principles.  I have
achieved this through my own readings of financial text books, literature and
periodicals (I am an avid reader of Wall Street Journal).  I sincerely believe
through this and my interest and enthusiasm in business and finance related
matters, I have developed a considerable expertise in those areas.  My friends
and colleagues routinely seek my advice on financial and tax matters.  This
reflects that they have confidence and trust in my business sense.  I would also
like to mention here that I was elected by the graduate students to serve on the
search committee for selecting the Head of Electrical and Computer engineering
at University of Cincinnati.

Recently, it occurred to me that I could apply my financial knowledge and inter-
est for greater use by participating in DCU affairs.  I am confident that the
members of the DCU will be able to benefit considerably from my financial and
personal skills.  If you have any questions or comments, please don't hesitate
to contact me either through telephone or through e-mail.  My resume (postscript
format) is located at CNTROL::DISK$USER1:[AGUPTA.RES]RESUME.PS.

In conclusion, I feel that I would bring fresh thinking to the board of direc-
tors, and my actions would relieve tensions between the board and its members.
I also firmly believe that I have the qualifications, motivation, and the energy
to be a successful board member.  The concerns of DCU members can be eliminated
only by listening, communicating and improving the service to our fellow
members.

Note: permission to post has been granted at the bottom.

			Alfred C Thompson, II
		Petition Candidate for DCU Board of Directors

    I have been a Digital employee for the last 10 years. I joined the
    DCU my first week with the company. Since that time I have been a
    regular customer of the DCU and use it as my primary banking
    institution. 

    I would like to be a part of improving communication with and
    confidence in the board. I would also like to see the DCU find better
    ways to serve its members. Especially those members outside the 3M
    area. The DCU has a lot going for it. All of the staff members I have
    dealt with over the past 10 years have been excellent. The service is,
    in my opinion, better than any bank I have ever done business with.
    I think we can bring that service to all areas of the operation. We
    need to have a Board of Directors that will ensure that the needs of
    all the members are  met. I believe that this requires a diverse 
    membership on the board.

    I have had several years of experience on other kinds of boards.
    Specifically, I have served on a private school board for the last
    6 years. During that time I have evaluated and hired administrators
    and created operating budgets. Also I have served for 5 years on
    the budget committee of a NH public school system. This committee
    is responsible for developing an operating budget of well over
    $17,000,000 a year. I have chaired both of those boards. I believe that
    this experience will map very well into credit union board work. 

    I pride myself on my ability to represent others and to work for the
    greater good of the organization. I believe I can make a positive
    contribution to the DCU board of directors. 
    
    Copies of my resume are available in postscript and ascii formats
    at:

	LSTARK""::LSTARK$DUA0:[PUBLIC.DCU]
		THOMPSON_RESUME.PS;1
		THOMPSON_RESUME.TXT;1


    			Alfred Thompson

    Permission is granted to forward or re-post this information including 
    to DCU members without network access.

From:	GUFFAW::GRANSEWICZ   "Put 'REAL CHOICES' to work for YOU on March 14th." 11-MAR-1992 15:36:48.86
To:	ERLANG::MILLEVILLE
CC:	GRANSEWICZ
Subj:	RE: Your DCU statement


	Dan,

	Thanks for pulling all the write-ups into one note.  Here is my
	writeup in text format.  It is also posted in note 443.0 but I
	have added the additional address information at the end.

	Regards,
	Phil



				Philip J. Gransewicz
		   Petition Candidate for DCU Board of Directors

	   I am running as a petition candidate for the Board of Directors
	of Digital Employees Federal Credit Union to offer the membership
	an alternative to the current direction and attitude of DCU.  The
	recent scandal involving DCU's ex-President has resulted in the
	revelation of many disturbing facts concerning our credit union.
	Many policies and decisions of the current Board of Directors have
	resulted in the loss of millions of our dollars, misleading communi-
	cation and a credit union which offers little more than convenience.
	Hundreds of DCU members have decided to withdraw their funds and
	leave the credit union.  I have chosen to stay and try to make DCU
	a credit union once again. Not a bank, but a credit union.  What 
	would that mean to you in the future?
	   
	   If elected I will support open and honest communications to the DCU
	membership through all available vehicles of communication.  The
	membership has a right to know exactly how their credit union is being
	run and what its policies are to protect and invest deposited funds.
	I will support and work towards regular DCU membership meetings with 
	the Board.  In addition, I believe the membership is entitled to full, 
	audited financial reports (including auditors notes and statement) at
	no cost.  Honest and straight-forward communication will be a top
	priority to restore membership confidence and trust in DCU.

	   I believe DCU's priorities must be re-evaluated.  More services
	is not the same as better service.  DCU must strive to have 
	*better* than competitive rates on deposits and loans to members.  
	While it is essential that DCU rebuild the equity it has lost over the
	last year, it is not necessary to build equity at a pace which will
	burden the membership with heavy fees.  DCU's net income in 1990 was
	$4 million, excluding losses on participation loans.  DCU is a very 
	profitable institution, without fees.  I do not believe the credit
	union's primary goal should be to maximize profit.  DCU "profit" is,
	after all, money which belongs to you.  

	   If elected to the Board, I will work towards more membership
	involvement in the credit union.  I will propose that Directors
	terms be limited to two consecutive terms.  This will insure the
	influx of new ideas and viewpoints.  The credit union bylaws can now
	be changed by the Board of Directors without the consent or knowledge
	of the membership.  Changes made to the Bylaws by the current Board
	have eliminated membership participation on the Credit Committee of
	DCU.  I advocate the return of membership positions on the Credit
	Committee as well as requiring membership approval of all bylaw
	changes.  Emergency changes would be allowed to be made by the Board,
	however, they would have to be voted on and passed by the membership
	at the next general election.  A strong and vital credit union depends
	on the involvement and support of its membership.

	   These are just some of the changes I would propose be made at DCU
	if I am elected to the Board of Directors.  I have been involved in
	the operations and management of a family business for many years and
	have learned that one of the major keys of success is customer
	satisfaction.  I have a Bachelor of Science in Accounting from Bentley 
	College.  My work experience has been entirely in software engineering
	since joining Digital in 1984.  I believe I can offer a unique
	combination of private business experience, formal education and
	credit union philosophy to the DCU Board of Directors.  If you wish
	any further information of have any questions, please feel free to
	contact me at DTN 264-1680 or send mail to GUFFAW::GRANSEWICZ.


	Regards,
	Philip J. Gransewicz
	99 Homestead Road	TTB1-2/B1
	Holden, MA 01520	Nashua, NH 03062
	508-829-4128		603-884-1680

    Pending responses from the incumbents and nominated candidates, this is
    all that is available.  Hopefully they will all provide in-depth
    statements so we can all make an informed decision next week.
    
    
*************************  Incumbents  *************************  

Common Name:   SUSAN SHAPIRO
Search Surname:  SHAPIRO  Search Given Name:  SUSAN,  SUSAN PISIK,
Susan Shapiro  DTN:  297-3527,  297-3527  Telephone:  508-467-3527
Intrnl Mail Addr:  MRO1-1/T33  Location:  MRO  Node:  HYPER
Username:  SSHAPIRO  Org Unit:  INFO SYSTEMS BUS ENG,
VAX/VMS Systems and Servers,  High End Marketing
Position:  Marketing Operations Mgr

Common Name:   ABBOTT WEISS
Search Surname:  WEISS  Search Given Name:  ABBOTT,  ABBOTT D  DTN:  264-5718
Intrnl Mail Addr:  MKO2-2/E17  Location:  MKO  Org Unit:  US AIMG
(Vice-President, Retail/Wholesale Business Unit)

*************************  Nominated Candidates  *************************  


Common Name:   DEEPAK GOYAL
Search Surname:  GOYAL  Search Given Name:  DEEPAK,  DEEPAK KUMAR
DTN:  381-1158  Intrnl Mail Addr:  ZKO1-3/J35  Location:  ZKO  Node:  BLUMON
Username:  GOYAL  Org Unit:  THE NEW SOFTWARE GROUP
 
Common Name:   RAY SCHMALZ
Search Surname:  SCHMALZ  Search Given Name:  RAY  DTN:  223-7736,  223-7729
Telephone:  508-493-7736  Intrnl Mail Addr:  MSO2-2/F19  Location:  MSO
Node:  FIDDLE  Username:  SCHMALZ  Org Unit:  CORPORATE TREASURER

Common Name:   PAUL MILBURY
Search Surname:  MILBURY  Search Given Name:  PAUL,  PAUL J  DTN:  223-7824
Intrnl Mail Addr:  MSO2-2/F23  Location:  MSO  Node:  AKOV13
Username:  MILBURY  Org Unit:  CORPORATE TREASURER

Common Name:   THOMAS MCEACHIN
Search Surname:  MCEACHIN  Search Given Name:  THOMAS,  THOMAS ANTHONY
DTN:  223-9951  Intrnl Mail Addr:  MSO2-2/C22  Location:  MSO
Org Unit:  INTERNAL AUDIT
   
Common Name:   GAIL MANN
Search Surname:  MANN  Search Given Name:  GAIL,  GAIL SUSAN  DTN:  223-2206
Intrnl Mail Addr:  MSO2-3/F13  Location:  MSO  Node:  WITNES  Username:  MANN
Org Unit:  LAW DEPARTMENT

Common Name:   H MUHM
Search Surname:  MUHM  Search Given Name:  H,  H CLAIRE  DTN:  297-5051
Intrnl Mail Addr:  MRO3-3/B16  Location:  MRO  Node:  FRICK  Username:  MUHM
Org Unit:  PERSONNEL
 
Common Name:   RICK SAMPLE
Search Surname:  SAMPLE  Search Given Name:  RICK,  JOHN,  JOHN R
DTN:  297-9765,  291-0520  Intrnl Mail Addr:  MRO1-3/T2  Location:  MRO
Node:  CSGDEC  Username:  SAMPLE  Org Unit:  US AIMG
  
    

From:	ERLANG::MILLEVILLE "My project is Clocking forward  12-Mar-1992 0514" 12
-MAR-1992 05:17:15.96
To:	@NEED-STATEMENTS
CC:	MILLEVILLE
Subj:	Statements needed for your DCU BoD effort

This is Dan Milleville.  I have opened discussion #489 in the DCU notes confer-
ence as a central location for unlimited statements from ALL persons running for
the BoD of DCU.  Could all of you please furnish me your statements (or a
pointer where the file can be found) for posting in this discussion or you can
enter it yourself.

If you post it yourself, I only ask that you follow the format I started for the
title so that if someone does a 'DIR 489.*' they will see your name even when
their terminal width is set at 80 characters.

Persons receiving this notice:
HYPER::SSHAPIRO
BLUMON::GOYAL
FIDDLE::SCHMALZ
AKOV13::MILBURY
WITNES::MANN
FRICK::MUHM
CSGDEC::SAMPLE

                <<< SMAUG::USER$944:[NOTES$LIBRARY]DCU.NOTE;5 >>>
                                    -< DCU >-
================================================================================
Note 430.0            Chuck Boutcher  -  petition candidate            4 replies
BSS::C_BOUTCHER                                      24 lines  27-JAN-1992 08:32
--------------------------------------------------------------------------------
    I would like to announce that I will be a petition candidate for
    the DCU Board of Directors.  I have been with Digital for 15 years and
    am currently a Unit Manager at the Customer Support Center in Colorado
    Springs.  I began my career as a FS Engineer in Chicago and have been
    in Account and Project Management positions in the past.
    
    My financial experience comes from an number of Boards on which I have
    served.  I was a trustee of the Riverdale Police Pension fund (a suburb
    of south Chicago).  During my five(5) year tenure, I was able to
    contribute to a significant improvement in the funding levels for 
    the members of the pension. 
    
    I have served as the Finance and Appropriations chair of a community of
    15,000 for four(4) years, and was both financial chair and President 
    of a Parks and Recreation Tax District for an addition three(3) years.
    I am currently a member of my church council finance committee.
    
    Anyone requesting a copy of my resume can send mail to BSS::C_Boutcher
    or Chuck Boutcher @CXO.  If you have direct questions that you would
    like to ask me, please feel free to call me at home - 719.749.2270.
    
    I can only close with the comment that I would like to contribute to
    a change in the current policies of the DCU and that I believe I can
    make a difference.

From:	BLUMON::GOYAL        12-MAR-1992 17:52:41.16
To:	ERLANG::MILLEVILLE
CC:	
Subj:	Dan:  Kindly post my 1992 DCU Election Statement in the DCU Notes File.
 Thank you for your help.  Regards . . . Deepak

                            DEEPAK K. GOYAL

                     1992 DCU ELECTION STATEMENT
                     ---------------------------



Dear DCU Members:

Over the past two months, many of you have sent me electronic mail messages 
or personally met with me to get to know me better, discuss your DCU-related
concerns and understand my position on the many important issues facing the
DCU.  I thank you for making the effort to reach me and for giving me the
opportunity to hear your concerns and opinions directly from you.  This has
renewed my confidence in the future of our DCU because strong membership
participation is the foundation of any healthy co-operative endeavor.

Several members had requested me to post my statement in the DCU Notes File.
I had meant to post this statement earlier, but I was unable to do so earlier
because of a family emergency.  Nonetheless, I hope it is not too late.


BACKGROUND
----------

Currently, I am a Sr. Manager, Strategic Relations & Business Development, in
the NAS Systems Management Group, TNSG, in Nashua, NH.  I completed 5 years with
DIGITAL in January 1992.  During the last 5 years, I was the Strategic Business
Unit Manager for Network Management in the Networks & Communications Group in
Littleton, MA.  Prior to joining DIGITAL, I worked at the Wang Laboratories in
Lowell, MA, as a Senior Product Manager in their Communications & Networks
Group, and for Burroughs Corporation (now UNISYS Corporation) in Detroit, MI,
where I worked in a variety of functions: software development, quality assu-
rance, production planning, corporate finance, strategic planning and product
marketing.  I have also taught as an adjunct Assistant Professor at the Univer-
sity of Michigan, Ann Arbor, and at the Washington State University, Pullman.

I received a B.Tech. degree in Electrical Engineering from the Indian Institute
of Technology, Kanpur, India, in 1973; Ph.D. degree in Electrical Engineering &
Computer Science from the Princeton University, Princeton, in 1977; a M.B.A.
degree from the University of Michigan, Ann Arbor, in 1981; and a J.D. degree
from the Suffolk University, Boston, in 1990.

As a result, I have a very diversified background, multifunctional perspective
and a proven track record, which I consider as essential prerequisites for a
BOD candidate.  I would also bring ethnic, geographic and functional diversity
to the BOD, along with maturity and common sense.


ALLEGIANCE
----------

I am grateful to the Nominating Committee for nominating me, but I do not owe
allegiance to the present DCU Board or any other faction.  I have denied 
permission to groups who have expressed a desire to list me as their "block"
candidate.  I am not questioning the competence of any of the Candidates By
Nomination or of the Candidates By Petition.

Today, the DCU membership is deeply divided and unhappy with the Board on many
issues.  One of the first tasks of the new Board will be to begin to build
Members' confidence, trust and goodwill in the Board and unite them around a
common vision for the future.  If the new Board is perceived to be a "contin-
uation" of the old Board, then it will be very difficult to achieve that unity.

The role of the Board and DCU Members is to listen to the Members, and promote
an open and fair election process.  All candidates should get equal billing and
air-time; I do not want to see a "we vs. they" attitude from the present Board
and, more importantly, on the new Board.  As a Member of the BOD, my allegiance
would be to the Members and not to the DCU Management or the DCU Board.


PHILOSOPHY
----------

As a BOD Member, my vision would be to make DCU the "best-in-class" credit
union in this decade.  By "best-in-class" I mean "in the top 3 in the nation"
based on criteria such as Asset Base, Member Satisfaction and Profitability.

Members have been moving funds out of the DCU to other financial institutions
for a myriad of reasons: DCU mismanagement, uncompetitive rates, declining 
service levels, and in-bred and complacent BOD.  All of these need to be
addressed aggressively to attract funds and, as a result, increase the Asset
Base.

Reversal of the above is necessary to improve the Member Satisfaction level,
but much more is needed to delight the Members.  The DCU will need to invest
in and utilize networking and emerging technologies to provide "state-of-the-
art" service to Members.  The handwriting is on the wall in the Financial
Services industry with respect to the future of "2-way interactive video" to
allow customers to perform banking and other transactions from their home
terminals/televisions.  The DCU could begin on that path by allowing Members to
electronically file loan applications and access account information over 
DIGITAL's EASYnet from their desktop terminals.  

To increase profitability, the DCU lending practices and expenses must be very
closely monitored.  BOD meetings at remote or expensive off-site locations will
not be allowed.  Profitability should be not be increased by imposing fees on
Members;  on the contrary, a portion of any excess profits should be distribu-
ted back to the Members.  


POSITION ON KEY ISSUES
----------------------

My position on some of the key issues are as follows:

o  BOD cannot change by-laws without the approval of the Member Body.  Any
   by-law changes made in the last year which were inconsistent with the
   above should be rescinded.

o  BOD Members and DCU Managers must disclose their DCU loans.

o  Members should be allowed to participate on Credit and other appropriate
   committees, if no BOD Member can be found to participate.

o  Relevant information should be released to Members in an accurate and timely
   manner.

o  Results of regular independent audits should be available to the Members.

o  Negative information should not be "dressed-up" for Members.  The reasons
   for the "problems" along with the actions being taken to correct those
   "problems" should be released simultaneously.  This is necessary to avoid
   creating a panic and speculation.  The above would apply to releasing the
   results of an independent review of past lending and investment practices
   at the DCU.

o  The issue of collecting against the bond on the BOD for potential past 
   negligence by the BOD should be discussed by the new BOD.


SUMMARY
-------

The DCU BOD needs new vision and fresh talent to re-build the DCU and move
it into the future.  Membership on the BOD is not a part-time, one Thursday a
month, activity.  A BOD Member needs to be actively involved in the DCU at the
policy, control and communication levels, but without dis-empowering the DCU
Operating Management.  Difficult issues need to discussed keeping the Members'
interests as paramount, followed by timely decisions.

I am prepared to commit to the above.  I hope you will give me the opportunity
to make a difference by electing me as a Member of your Board of Directors.

Sincerley yours,

Deepak K. Goyal

re: .17

What you are saying sounds good.  However, I must take exception with one
statement...

>o  Members should be ALLOWED to participate on Credit and other appropriate
>   committees, IF NO BOD MEMBER CAN BE FOUND TO PARTICIPATE.

(Emphasis is mine, not in the original)

I feel that especially in the case of the credit committee, member positions
should be required, not merely allowed.

Since it is the responsibility of the BOD to define the philosophy of the
credit union, I could see where, in a properly run credit union, that it
would be appropriate for a minority of the positions on a committee to be
filled by a member of the BOD to ensure that the philosophy of the BOD is
indeed being implemented. (How's that for a run-on sentence :-))

Bob

	Next week DCU members will be receiving ballots for the Board of
	Directors. My name will be on that ballot. I'm writing this note
	to expand on the 150 word statement that will be coming with the
	ballot. I think people have an obligation to explain their
	qualifications and goals for such a position.

	I am a software engineer and have been for most of my 10 years at
	Digital. During that time I have done some top notch engineering work
	and even had some technical articles published. I've also earned,
	I believe, a solid reputation for service to fellow employees 
	through the five years I maintained and distributed EASYNOTES.LIS.
	Through work as a moderator in Notes Conferences I believe I've
	developed excellent people skills and a reputation for fairness.
	Service, fairness, and communication are, I believe, important
	attributes in a member of the DCU Board.

	I do, however, have experiences outside of Digital that I believe
	add significantly to my qualifications for the Board. I have served
	on other boards in the non-profit sector. Specifically, I have 
	served on a private school board for the last 6 years. During 
	that time I have evaluated and hired administrators and created 
	operating budgets. Also I have served for 5 years on the budget 
	committee of a NH public school system. This committee is responsible 
	for developing an operating budget of well over $18,000,000 a year. 
	I have chaired both of these boards. 

	I believe these experiences have given me valuable real-world
	experience with the financial, personnel, policy and administrative
	roles of a Board of Directors. This is important experience for
	a qualified DCU Board member.
	
	I pride myself on my ability to represent others, to listen to
	their concerns and opinions with an open mind, and to make decisions
	based on the best welfare of all parties concerned. Further as a
	member of the board I can be counted on to develop and maintain open
	lines of communication with the membership. I've worked outside the
	greater Maynard area, almost two years in software services in New
	York City, so I know that the needs of the membership outside the
	New England area are not always being met. I've long believed that
	that was a problem that needed to be addressed for the welfare of
	the Credit Union and the needs of the membership.

	Lastly, let me say that I am one of the "REAL CHOICES" candidates,
	though that is not explicit on the ballot. This means I am one of
	a number of candidates who have worked together to get on the ballot
	to offer the membership real options in voting. We are also
	pledged to a more open credit union, to the return of power to
	the membership that has been cut by recent by-law changes, and a
	commitment to grow the credit union through long term solutions 
	rather than short term "fixes."

		Regards,
			Alfred Thompson

	PS: Permission is granted under Digital policy to forward this
	note, post it in other notes conferences and to share it with members
	of the Digital Employees Credit Union who do not have network
	access.

From:	IAMOK::SCHMALZ      14-MAR-1992 11:53:56.27
To:	ERLANG::MILLEVILLE,FIDDLE::SCHMALZ
CC:	
Subj:	DCU Statement and Resume for Notes Conference

Dan, shown below is my candidate statement and a complete copy of my resume 
for your information for posting in the DCU notes conference.  

I hope you or any reader of the notes conference will feel free
to contact me if you have any questions.

		
							Ray Schmalz
							MSO2-2/F19
							DTN 223-7736
							FIDDLE::SCHMALZ




CANDIDATE STATEMENT FOR RAY SCHMALZ


As your representative on the Board, I will advocate high quality, 
competitive services; open communications; and effective, professional 
management for our Credit Union.

I believe the Board should actively oversee and advise DCU management to 
ensure that our Credit Union is continuously improving its quality of 
services and financial offerings. 

My background will make me an effective Board member. 

	* 18 years financial management experience at Digital,
	  including:

	 	-Corporate Credit: Worldwide functional management, 
		 including approval of major customer credit lines.

		-Customer Finance: Managed organization providing 
		 customer leasing.
		 
		-Pension Investments: Develop investment strategy, select 
	         and measure performance of investment managers for
		 $2 billion of employee pension funds.

		-Benefits Finance: Work with Personnel to determine best
		 balance between employee needs and cost of benefits. 	 
		
		-M.B.A., Stanford, B.S.,Engineering, Lehigh


I have the experience to make immediate contributions to the Board. I ask 
for your vote.


RESUME FOR RAY SCHMALZ

			Ray Schmalz
			MSO2-2/F19
			FIDDLE::SCHMALZ
			DTN: 223-7736
			(508) 493-7736


Business Experience:

1974 - Present		DIGITAL EQUIPMENT CORPORATION, Maynard,
			Massachusetts.

     1989 - 		Manager, Benefits Finance.  Responsibility for the 
                        financial management of Digital's worldwide 
                        retirement and welfare benefit plans.

     1986 -		Manager, U.S. Pension Investments.  Responsibility 
                        for the strategic investment of pension assets in 
                        the U.S., Canada and Brazil including asset 
                        allocation and the selection and measurement of 
                        investment managers.

     1983 - 1985	Manager, U.S. Customer Finance.  Managed the 
                        development of Digital's in-house customer leasing 
                        group into a full-service financing services 
                        business unit servicing Digital's customers across 
                        the U.S.

     1982 - 1983	Manager, Real Estate Planning(July, 1982) and 
                        Finance and Administration(December, 1982).

     1981 - 1982	Corporate Credit Manager.

     1979 - 1981	Regional Treasury Manager, United Kingdom. Managed 
                        credit, leasing, pensions, insurance and banking 
                        and cash management for Digital's operations in the 
                        British isles.

     1976 - 1979	Manager, Treasury Analysis.

     1975 - 1976	Manager, Software Services Finance.

     1974 - 1975	Senior Financial Analyst, Software Services Group.


1970 - 1972		EASTMAN KODAK COMPANY, Rochester, New York.
     			Cost Engineer.


Education Summary:

1972 - 1974		STANFORD GRADUATE SCHOOL OF BUSINESS, Stanford, 
                        California.  M.B.A. in June, 1974.  Finance 
                        emphasis.

1965 - 1970		LEHIGH UNIVERSITY, Bethlehem, Pennsylvania.  B.S., 
                        Industrial Engineering in June, 1970.  B.A. in 
                        Applied Science, June, 1969.


Professional
Information:		Member, State Treasurer Joe Malone's Oversight 
                        Committee for Economically Targeted Investments,
     			1991 - Present

     			Certificate of Management Accounting, 1976.

     			Kodak Masters' Support Program.


Additional
Information:		Member, U.U.A. Pension Committee.

     			Treasurer, Rotary Club of Lexington.

     			Past Moderator of Church.

     			Past President, Lehigh Club of Boston.


     					


     								March, 1992

From:	MCIS3::MCIS3::MRGATE::"A1::MUHM.CLAIRE" 15-MAR-1992 13:51:11.49
To:	ERLANG::MILLEVILLE
CC:	
Subj:	Statement for Posting in the DCU Notes File

From:	NAME: Claire Muhm @MRO              
	FUNC: U.S. Sales Personnel            
	TEL: 297-5051                         <MUHM.CLAIRE AT A1 AT MCIS3 AT MRO>
To:	MILLEVILLE@ERLANG@VAXMAIL
CC:	CLAIRE MUHM @LKG


Dan, I'd appreciate your posting the following statement in the DCU
Notes file. 

Thank you,
Claire
-----------------------------------------------------------------------

My name is Claire Muhm, and I am one of the Nominated Candidates for 
the DCU Board.  I have heard from many employees and DCU members 
regarding their concerns with the Credit Union in general and with 
the BOD election in particular, and I have also been reading the Notes
conferences on these subjects.  I can well appreciate why people would
like to know more about the BOD candidates than can be provided in a 
150 word statement, and I am happy to provide the following information
about myself.  I hope it is not too late for this to be added to Dan
Milleville's Notes conference.

I have worked for Digital for over thirteen years, between 1976 -
1983 and again between 1986 and the present.  In between I spent 
almost three years working for a Digital customer and supplier, 
Analog Devices.  Prior to joining Digital I worked for a division 
of ITT.  

I am a Phi Beta Kappa graduate of Indiana University (my degree is
in English), and I earned an MBA by studying nights at Northeastern
University.  While my entire career is in Personnel, I have worked
in a variety of organizations and also have three years of 
international experience (Galway, Ireland).  Within Digital I have 
worked in Manufacturing and the Field, and I have just joined the 
NaC Engineering organization as its Personnel Manager.  I have a 
keen awareness of employee and DCU member concerns, and my years
of experience on management teams have helped me to gain a solid
understanding of organization and management effectiveness.  I 
have seen and experienced both effective and ineffective management, 
and have been part of organizations that have been successful and 
ones that have failed.  I know the difference, am aware of what it 
takes to build a successfully functioning organization, and am not 
afraid to speak up and push for positive change.

People who have worked with me describe me as an honest and clear 
communicator who is responsive to employee concerns and willing 
to take a stand on issues that count.  I do not approach my work
as simply a "staff" person - I understand and am involved with the 
business, and am well respected cross-functionally.  

I think that it is critical to restore member confidence in the
substance and integrity of the DCU.  Towards this end, I am in
favor of full and open communications, e.g., disclosure of BOD/
DCU Management loans through the DCU, results of regular independent
audits, and a timely, "straight-talk" approach to providing
relevent information to members.  If elected, I would approach my
duties with a spirit of effective teamwork and cooperation
between the DCU Board, Management and Membership, and would work 
hard to improve two-way communications between all of the above.  

As my 150-word statement indicates, I would commit myself to:

- Outstanding customer service, competitive rates
- Listening to members, responding to your concerns
- Straight talk, honest feedback
- Excellent management, fiscal integrity
- Providing financial services which respond to the diverse
  needs of DCU members

I am prepared to devote lots of effort and hard work to the DCU
Board.  Feel free to contact me directly:

Claire Muhm
@LKG, or DELNI::MUHM
dtn 226-5869
LKG 1-1/D07

I would appreciate your vote of support.

Sincerely,
Claire Muhm

From:	BLUMON::GOYAL        16-MAR-1992 09:27:07.28
To:	ERLANG::MILLEVILLE
CC:	
Subj:	Dan: Please add this note to my DCU Election Statement in the DCU Notes File.  Thanks . . . Deepak Goyal

                             CORRECTION ON

                  "VOTE FOR A QUALIFIED BOARD" FLIER



Dear DCU Members:

It has been brought to my attention that my name is listed on the
"Vote for a Qualified Board" campaign flier.  I DID NOT AND DO NOT
ENDORSE THIS CAMPAIGN ACTIVITY.

Approximately, 10 days back, Mr. Mark Steinkrauss and Mr. Ray Schmalz
contacted me to obtain my approval to include my name on their flier.
In a written note, I told them that I considered this kind of activity
improper, especially since it was being endorsed by a BOD Member.  The
role of a BOD Member is to promote a fair and open election.

I told them they had two options: either delete my name from their flier,
or add the qualifier "DOES NOT ENDORSE THIS CAMPAIGN ACTIVITY" against
my name.  My position on such activities is that if some group of members
wants to campaign for a particular set of candidates, then it is that
group's prerogative.  However, that group should first discuss the
planned activity with each candidate and incorporate any special instruc-
tions from a candidate in order to correctly project a candidate's
position and philosophy.

The organizers of the "Vote for a Qualified Board" are conducting their
campaign in a manner inconsistent with my instructions.  I am upset over
it because, per my election statement posted in the DCU Notes File, I do
not associate myself with any faction.  My Ray Schmalz called me this
morning to apologize for not incorporating my instructions in their 
campaign.

I hope you will cast your vote based on my Election Statement posted in the
DCU Notes File, and not based on campaign activity by any group.

Sincerely yours,

Deepak K. Goyal

March 16, 1992 

From:	BLUMON::GOYAL        16-MAR-1992 10:19:57.21
To:	ERLANG::MILLEVILLE
CC:	BLUMON::GOYAL
Subj:	Reply to Bob Ainsley's comment

Bob:

I am certainly open to your suggestion.  The reason I am hesitant to take a
stand on member participation on any specific committee is because I don't
understand the various DCU committees and the nature of BOD/Member partici-
pation that would be required on each.  If elected, I would seek further
input from DCU members and DCU management before taking a stand.  The best
people should participate.

The above statement should not be interpreted as my lack of commitment to
open communications and member involvement, or my inability to make a decision.
I need more information because I want to do what is right for the DCU.  

Thank you for your input.

Regards,

Deepak

March 16, 1992

From:	AOSG::ALPHA::gillett "Chris Gillett AOSG Compilers" 16-MAR-1992 14:05:04.49
To:	aosg::erlang::milleville
CC:	alpha::gillett
Subj:	Revised statement as promised...

Hello Dan:

As I indicated earlier, I wrote a substantially longer and
more informative statement over the weekend for inclusion into
your "No 150 word limit here" note in the DCU conference.
Would you please delete my old statement (which was what I 
circulated during the petition drive), and replace it with this
much more detailed and informative statement?

Thank you very much for posting statements from all the candidates.

Regards,
/Chris Gillett

Christopher Gillett - Petition Candidate for DCU Board of Directors
===================================================================

As a candidate for the DCU Board of Directors,  I'd like
to use this note to provide you with more information about myself and
to discuss my philosophy and beliefs about how DCU should be run.

Please review all the election material you receive from DCU, learn as
much as you can about all the candidates, and vote your conscience in
the election.  This is the most important election in the history of
DCU, and your participation is vital in determining the direction and
future on DCU.

This is a long document, but necessarily so.  I thank you in advance
for reading through it.  I'm eager to answer questions and will try to
be as open and communicative as possible.  My email address is
ALPHA::GILLETT, and my DTN is 264-0696.

Permission to forward this statement to others is granted, provided
that all forwarding headers are maintained, and that the message is
forwarded in accordance with Digital's policies and procedures.


Affiliations:
=============

I believe very strongly in the concept of membership involvement and
ownership of credit unions.  I've been a very vocal critic of past
policies and practices within DCU, and I'm proud to be affiliated with
the REAL CHOICES candidates.


Biographical Background:
========================

I've been with Digital Equipment Corporation, working as a Senior
Software Engineer, since August 1989.  Currently, I work in the Alpha
Open Software Group.  I worked previously in the Semiconductor
Engineering Group in the CAD space.   My work for Digital has been
primarily on the design and implementation of compilers and
optimizers. 

I've worked for a variety of small companies before coming to Digital:
Nastec Corporation (Southfield, MI), Absoft Corporation (Auburn Hills,
MI), and Crowe, Chizek, and Company (South Bend, IN).  I also
participated in the founding of an East Lansing, MI company called
Software Design Laboratories.  

I grew up in the middle of Michigan, and attended Central Michigan
University from 1981-1986.   I hold a Bachelor's degree in Computer
Science, and a minor in Business Data Processing.  I also studied at
Business Administration at Mid Michigan Community College while in
high school and immediately after graduation.

During the 6 years that I was in college both full and part time, I
worked at a variety of jobs ranging from salesperson to manager of a 50
unit hotel to computer programmer.


Qualifications & Philosophy:
============================

While I don't have a Harvard MBA, I have a common sense, nuts and
bolts, understanding of business administration, accounting, and
finance.  I participated as a principal in a small start up company,
and found myself immediately caught up in all aspects of business
management.  I balanced the books, counted the money, marketed our
services, and guided the company towards pre-established goals.  I
wrote business plans, met with investors, and worked on capitalization
plans.  This was an intense and highly educational experience. 

I've worked for small companies where business planning and
profitabilty were the responsibilities of all employees.  I've managed
multi-million dollar software projects, and seen them pay off for
management.  I've also watched managers lose enormous amounts of money
and drive companies into financial distress.  I know what it takes to
make a business run, and I know what pitfalls to avoid.

I manage my own investments, and pay close attention to economic
trends and business conditions.  I study the markets carefully and
spend much spare time reading annual reports and doing fundamental
analysis of companies in which I invest (or would like to invest).

I've done a lot of different things in my life.  I've been a
bartender, a hotel manager, a computer programmer, a software
engineer, a drummer in a rock band, and more.  I know what it's like
to be well-off, and I know what it's like to experience hardship.  I
am a good communicator, and can interact well with people off all
levels, whether they're average laborers or boardroom executives.

As I have written before, I offer DCU a philosophy that member
involvement is key to the success of the organization.  The enabling
legislation enacted by Congress which estabished credit unions makes
clear that they are not banks, but are unique entities.  They are
financial cooperatives in which the members/owners pool their money
for the purposes of saving and borrowing.  I believe that credit
unions the size of DCU should be run by paid professionals, and
overseen by a board which is representative of the membership.

A copy of my professional & technical resume 
is available, in text form, at:

	AOSG::AOSG_USERA:[GILLETT]GILLETT_RESUME.TXT


What Needs to Happen at DCU?
============================

It's easy to write about open communications, conservative policy, and
other ideals.  It's more challenging to talk about specific issues and
how they should be addressed. 

The following outline my specific proposals and ideas for:

	a.  Restoring Member Confidence
	b.  Restoring DCU Employee Confidence
	c.  Restoring DCU to profitability
	d.  Planning for the future

a.  Restoring Member Confidence:
The events of the past year has been exceedingly difficult for both
DCU and its membership.  The present Board of Directors has been under
ceaseless pressure since it announced the termination of Richard
Mangone's presidency.   The battle lines have been clearly drawn for
some time now, with all sides working hard to make their beliefs and
points well known.  There has been open hostility between the members
and employees of DCU.  There have been serious allegations made
against the present Board by members, and against members by the
present Board.  It is time for this siege mentality, and the "us against 
them" feelings to be set aside.

As a member of the DCU Board of Directors, I will immediately go to
work to restore membership confidence in DCU, and to encourage
disgruntled former members to trust us with their money once again.  I
will take steps to provide members with a complete accounting of the
Richard Mangone affair, and will seek to provide as much information
to the membership as is legally possible.  I will make inquiry into
litigation against Mangone to insure that DCU can prevail, and can
recover damages that will benefit the credit union.  I will advocate
further exploration of issues of responsibility for the participation
loan fraud, and will recommend and encourage appropriate action when
necessary. 

Member involvement is critical to restoring controls that will prevent
another incident like the Mangone affair.  I will immediately work to
understand the levels of member involvement that are legally possible,
and will take steps to get members involved in oversight and advisory
committees as quickly as is possible.   I will immediately work on
restoring member control by advocating and voting for by-law changes
which undo the recent 5,000 signature requirement to call a special
meeting.  I will actively work for allowing the membership to vote on
by-law changes.

Open communications is the key to restoring member confidence.  I will
work to disclose as much of the Board's deliberations as possible, and
alternatively will work to bring member concerns to the Board.
Additionally, I will take steps to be accessible, at least
electronically and via the telephone, to members who have concerns or
want to make their opinions known.  I will also encourage the Board to
have regular informal meetings open to the membership, to answer
questions, and provide information.

One long term goal as a Board member will be to put as much sunshine
as possible into the decision making process.  Much of the Board's
work can be disclosed to the membership without compromising the
credit union's competitiveness and in keeping with laws and policies
about protecting the privacy of individual members.  I will encourage
the Board to disclose as much of its monthly meeting minutes and
deliberations as possible.


b.  Restoring DCU Employee Confidence:
DCU has great employees at all levels.  They are hard-working,
helpful, creative people who deserve excellence in the Board, and who
want and need a supportive work environment.  The new Board needs to
reach out to employees and help heal the wounds caused by the siege
mentality of the past year.  

I do not know what the present Board has told DCU's employees about
the REAL CHOICES or other petition candidates.  I do not know what the
employees have been told about the Special Meeting, or the Richard
Mangone affair.  I do know that some employees believe that replacing
the current Board will mean the end of the credit union, and the
eventual end of their jobs.  I know that employees are hostile towards
petition candidates.  I don't necessarily blame them - people tend to
fear the unknown, and to react with hostility toward change where the
goal of the change is not well understood.  It is important that the
new Board members, whoever they are, realize this and take steps to
reach out to employees and reassure them as much as possible.

As a member of the Board, I will work to help educate the employees
about the new Board and it's intentions.  I will move to schedule an
open meeting between all DCU employees and the new Board, to give the
Board a chance to meet the employees, to answer their questions, hear
their concerns, and let them know that the Board cares about their
futures, and wants the credit union - and their careers - to continue
to prosper.  

I do not expect this process to be easy, and I do not
expect people to respond easily or immediately favorably.  But
nevertheless, in our efforts to bring positive change to DCU, we
cannot afford to ignore the concerns of DCU's employees.


c.  Restoring DCU to profitability:
As you are no doubt aware, the recent participation loan losses have
seriously impacted DCU's fiscal ratios (an example of this is DCU's
rating as determined by IDC) and bottom line.  We need to work hard to
restore DCU to profitablity, return our ratios to safe and proper
levels, and return to a position where DCU can once again distribute
dividends to its members.

In my opinion, DCU's best investment is with it's members.  DCU enjoys
an almost amazingly low member loan default rate.  President Cockburn
has commented on this, and has indicated that he wants to deploy
programs and products to take advantage of this.  I intend to be very
supportive of programs which invest in the average DCU member, and
which provide good returns for the credit union.  I am less inclined
to support programs where the average member cannot directly benefit.

It will be tempting to go off in search of fast ways to make money for
the credit union.  It will be tempting to consider alternative
investment to make money.  DCU has had it's flirtation with such
investments and the results have been disastrous. The "quick fix" idea
to restoring profitablity is very seductive, and I believe must be
avoided.  The only way to return DCU to it's former profitable self is
the old fashion way:  earn the money.  By using the spread between
return on investments/loans and interest paid to members, we can
gradually rebuild our equity base and achieve the performance and
profitabilty that we required.

I advocate conservative fiscal policy.  Investments should be made in
loans and products available to members of the credit union, in
federal funds transactions, and in the purchasing of government bonds.
I will not support or vote for investment plans which include
participation loans, real estate ventures, or other high-risk
undertakings.  


d.  Planning for the future
The trend in Digital these days, and into the forseeable future, is
for continuing down-sizing.  Our employee population will continue to
decrease by attrition, early retirement, and possible additional
transition plans.  DCU's growth is directly tied to Digital's growth.
In my opinion, it is unreasonable to expect DCU to continue to get
larger.  

Given this outlook, what can be done to maintain DCU in a strong
position?   DCU will not continue to thrive if efforts are directed at
providing average service to a large number of shareholders.  Instead,
the emphasis must be placed on providing outstanding service to a
potentially smaller number of shareholders.  I think it is important
for DCU to continue to work on improving service, while maintaining
its current levels of member support at branches and ATM's.  I am
concerned about attempts to grow the credit union in the face of a
shrinking potential member base, and will continue to lobby for a
conservative growth posture unless and until Digital begins to grow
again. 


What Have I Done for You Lately?
================================

I became involved with DCU when the "More Choices" brochures which
introduced checking account fees came out.  The more I learned about
the Richard Mangone affair, and the more I saw of DCU's emerging
financial picture, the more unhappy I became.  I participated actively
in the Special Meeting petition drive, along with many other
volunteers.  I've spent hundreds of hours on the phone, writing
letters, reading law books, sorting through meeting minutes, reviewing
court documents, and analyzing financial statements, all in an effort
to put together a comprehensible and clear picture of what has been
going on within DCU for the past few years.  I've spent vacation time
meeting with Mark Steinkrauss, Chuck Cockburn, and Rob Ayres trying to
resolve the conflicts between shareholders and DCU prior to the
special meeting.  I've spent additional vacation time sitting in the
federal courthouse in Boston scouring through legal briefs associated
with various facets on the Mangone affair.  

I've spent several hundred dollars (as have many others) on legal
documents, DCU information requests, and attorney fees.  I've worked
hard to get all this new information into the hands  of shareholders,
and tried to educate DCU members about the current situation.

I've also spent time reading credit union legislation, and studying
other credit union documentation to better understand how Congress and
the NCUA intend for credit unions to operate.


Pleae Don't Listen to Scare Tactics:
====================================

You've heard people associated with the Special Meeting referred to as
"Witch Hunters."  You've heard that those of us who choose to call
ourselves REAL CHOICES candidates are out to "take over" the credit
union and to "discredit" it.  Campaign flyers are now circulating
which question the qualifications of candidates.  Campaign literature
may be mailed to you which implies that the best candidates are those
placed in nomination by the Nominating Committee.

I do not believe in scorched earth policies as a means of achieving
success.  My candidacy is not about "taking over" the credit union, or
bringing discredit upon it.  My objectives are not to hurt DCU, or
Digital.  I'm running for the Board because I believe that I can make
a valuable contribution to the future of DCU.  I'm running to give
you, the member, a stronger voice in the management of your credit
union.  I'm running to bring a voice of common sense conservative
fiscal policy to DCU, and to encourage it to move away from past
failed policies.  And I'm running to give members more choices.  I'm
approaching Board membership with an open mind, not with a grudge.
I have no axe to grind, and no individuals to discredit.

Please, review the information you have about candidates carefully and
vote based on the candidates beliefs, philosophy, plans, and
qualifications.   Please vote on the facts, and on what you can learn
about the candidates from the candidates themselves.


Conclusion:
===========

I believe that DCU members want a Board which will talk to them
frequently and will let them know where things stand.  I believe that
the membership deserves straight talk during tough times, and should
reap the rewards for their patience during good times.  I believe that
the members want their money managed carefully, with immense
forethought and due care, and in a way consistent with conservative
fiscal policy and common sense.  I believe the membership wants
individual Board members who will talk with them as individuals, who
will not hide in the boardroom but will instead be accessible and
open.  I believe the membership deserves better than they have
received in the past.

As a REAL CHOICES candidate, I stand ready to work hard with you as we
move DCU away from these troubled times and into a better future.

Thank you for taking the time to read this.

Chris Gillett
REAL CHOICES Petition Candidate for the DCU Board of Directors

   I have  received  mail  from  somebody  asking  me  about  my  financial
   experience.   My  150  word  statement  did not include that experience,
   because  I  felt there were more essential things to say when limited to
   150 words.

   From 1972-1974   (approx)   I   was   treasurer   of  my  fraternity  at
   Carnegie-Mellon  Univ  (DTD)  handling  about  $60K/year.   I  had to do
   budgets  based  on  number  of pledges, etc., for the house expenses.  I
   also took a semester of accounting.

   From 1980-1985  (approx)  I  handled  the books on a small business.  At
   this  point I can't remember the $/yr off hand, but was someplace in the
   area  of  $50K.

   I believe  that  having  all  the  board members heavy in finance is not
   necessary.   I  believe personal integrity, especially in this election,
   is  paramount.   Granted,  the  board  must have some members with heavy
   financial  experience.   But  our set of 9 alternate candidates includes
   one  ex-bank examiner and one DEC finance person, as well as others that
   have gone to MBA's and have run small businesses.

   I feel  that  my main contribution would be in the area of integrity and
   direct   communication   with   member's   concerns.    I  believe  I've
   demonstrated  my  level  of  commitment  to  improving  things  with  my
   involvement  with  Jack  Smith.   First  I  wrote  a  memo that was well
   received  by  "the  network", and this memo resulted in a 1 on 1 meeting
   with  Jack  for  an hour last summer to express concerns which I believe
   are  common to workers not plugged in to the management political chain.
   I  believe  that  one  of the outcomes of the meeting is the revitalized
   open  door  policy.   While  this  revitalized policy is lacking in some
   important  areas,  I  feel  that  at  least  Jack somewhat addressed the
   problem.

   If I  am elected to the board, I guarantee that DCU will be audited to a
   depth they have never seen before or I will resign.  I believe the first
   order  of  business  is to find out exactly what happened and what we do
   have  and report back to the members.  We can't restore the integrity of
   the  credit  union  without  a  full accounting of the past.  One cannot
   build a house on a foundation of unknown integrity.

   If you  have  any  further questions, don't hesitate to ask, that's what
   I'm here for! :-)

From:	CVG::THOMPSON "DCU Board Candidate" 17-MAR-1992 08:31:14.13
To:	ERLANG::MILLEVILLE
CC:	 
Subj:	RE: DCU Loan status of all candidates

I currently have a second mortgage with the DCU. In the past I've had
a number of other loans (car, home improvement, computer) which were
all paid off.
 
		Regards,
			Alfred Thompson

From:	CVG::THOMPSON "DCU Board Candidate" 17-MAR-1992 08:33:21.76
To:	ERLANG::MILLEVILLE
CC:	 
Subj:	RE: DCU Loan status of all candidates

Sorry I forgot to state permission to post. Go ahead. No problem.

As to the request for financial disclosure, I have no loans with DCU
currently. I do have a home equity line of credit with DCU but
the balance has been $0 since I received it.

From:	RENOIR::HOM "Gim Hom MLO 5-2/G1 223-7044  17-Mar-1992 0837" 17-MAR-1992 
08:36:52.48
To:	ERLANG::MILLEVILLE
CC:	HOM
Subj:	DCU Loan status of all candidates

I currently have no loans outstanding from the DCU.  If I am elected to
the board, I will authorize the DCU to disclosure in full detail the
amounts of any loans made by the DCU to me or any members of my
immediate household or trusts where the beneficiaries are the
forementioned. I consider it extremely important that any board member
avoids even an appearance of impropriety.

You have my permission to post this response. Thanks for your efforts in 
get information from ALL the candidates.


Gim

From:	DZIGN::DAWKINS      "TANYA.L.DAWKINS, ESB FINANCE, 223-2234" 17-MAR-1992
 09:10:28.31
To:	ERLANG::MILLEVILLE
CC:	DAWKINS
Subj:	RE: DCU Loan status of all candidates

I'm not sure what your'e asking...Gim's note refers to whether all
candidates stand for full disclosure of loans to Board members while
your note is asking candidates to fully disclose any loans.

Yes, I stand for full disclosure and at this time, I have no loans
outstanding with the DCU.  Permission is granted to post this note.

Regards,

Tanya L. Dawkins

From:	FSOA::SAMPLE       "RICK SAMPLE MRO1 297-9765" 17-MAR-1992 09:50:41.93
To:	ERLANG::MILLEVILLE
CC:	
Subj:	RE: DCU Loan status of all candidates

Dan,

I give you my permission to post this response in the notes file.

In the almost twelve years I have been a member of the DCU, I have had
one loan.  In the fall of 1980 in September or October, I borrowed $5600
as a new car loan.  I paid it off in full approximately six months later
in March or April of 1981.

Although not technically a loan, I have a regular VISA card with the
DCU.  I believe I have a $1500 credit limit.  However, to my knowledge,
I have never used it as a credit source, but have always paid off the
new balance each month in full.

Regards,

Rick

Just a note, and not a criticism of anyone's financial lifestyle:

Without formally inventorying the responses, I get the feeling that most of
the candidates seem to have few or no loans with DCU.  There's nothing wrong
with that.  But in light of previous conjectures about what might or might
not have been done at top levels (and there has been nothing more than
conjecture), it might be worth noting that having a loan with DCU is in
no way a bad thing.  In fact, more shareholders taking out loans is exactly
what DCU NEEDS to improve its ratios.

I've been getting a subtle feeling that candidates may have been getting a
subtle feeling that having loans with DCU would somehow be a dis-recommendation
for ascending to the Board.  Only a feeling, and if unfounded, appropriate
retraction is hereby offered.  But other things equal, I'd kinda like to see
some Board members with at least a loan or two from DCU.  It would make them
more like a typical member.  (Me.  :)

I don't mean "special" loans to Cape Cod real-estate trusts, of course.  But
then no candidate statement is likely to volunteer that kind of information.

(I guess what what everything above ends up saying is that I need to trust a
candidate's overall posture of integrity, doesn't it?  That's probably right:
I don't really want to hear very much about honest personal finances, and
Mangone-grade stuff wouldn't appear in anyone's statement, no-how.)

Re: .31

I think the fact that so many of the members do not have loans with DCU is
an indication of what is wrong with the credit union.  As Phil G has said so
many times, DCU members should use DCU as their institution of choice.  The fact
that DCU is restrictive with the types of loans it gives sends people elsewhere
for their loans.  Also the fact that we don't get the rate break we deserve
as members of a CREDIT UNION sends people elsewhere.

In a member-owned institution, members get their loans from other members, to 
the advantage of the member getting the loan, and the membership getting the 
loan interest.  Such a system, when working properly, is so attractive that
no glossy brochures are needed, just word of mouth and branches to take the
loan applications.

I have had at least 4 loans (2 house, 2 car) in my tenure as a DCU member, but
never have I found the DCU a good place to get a loan.  That's a different
topic.

Elaine

FWIW, I have no loans with DCU.  Instead, all my loan action
(car, personal, etc) is at the Hudson Savings Bank in Hudson, MA.

I agree with Bill that having loans with DCU is in no way a bad
thing.  I have my loans with a different institution because the
loan rates were superior, and because the processing time from
request to check was handled in a matter of hours rather than days.

./Chris

Maybe we should be asking how many times they tried to get a loan from DCU, but
gave up?

:-)

Bryan

Re: .31-33 or so
I agree, excellent point Bill.

As soon as I believe that there is motion to restore the integrity of
DCU, I will pay off the rest of my house with my home equity loan from
DCU using the going (variable) rate of the equity loan (unless it goes back
up to 15% before I do it :-). That would be about $20K.

I agree, to restore DCU, we must begin doing business with it. I hope to
encourage that if elected.

Personally I don't like loans - from DCU or anywhere else and only borrow
money if I must (like for a house). But that's a personal preference.

    
I had an auto loan with DCU that was fully paid last year. As requested
in earlier replies, let me explain what happened when I initially applied for
for this loan. I applied for the auto loan in March 1989 for 90% of the
value for new car. I was turned down but DCU made a counter offer of providing
me a loan for 80% of the value of the car. At this point I was forced to to
obtain a loan from the dealer (who arranged it through Bank of New England)
at higher rate but for 90% of the car price.

However, in next few months, I was able to save another 10% and then I applied
for re-finance at DCU. According to their rules, if the car is less than 6
months old, it is treated as a new car. Finally, I obtained the financing from
DCU and here I would like to mention that Hudson manager was very helpful in
re-financing the loan. Also I liked the convenience of touch tone
service which I used it almost every week to transfer excess money from my
checking account towards the loan, thus prepaying me loan much faster. In the
loan through the dealer, I had to mail checks and wait for them to post the
checks, thus making extra payments a tedious task. The point I would like to
mention here is Digital is good at customer services and is quite ahead in
employing new technologies. Only in approving loans are they too conservative.

The above story was repeated two years ago to two of my friends. Both persons
were newly hired by Digital and when they applied for loan they were asked to
put down 40 (yes, forty) percent down. They went for loan outside DCU and
later re-financed with DCU once they had total of 40 % down payment. At least
they (and I) came back to DCU because we were able to save money and didn't
think too much about been turned down initially by DCU. Others in similar
situation would probably have been disgusted and may decide never to apply
for loan at DCU.

The above examples illustrate why I would like to make loan accessible to DCU's
own members. If elected, I would propose member participation in Credit
Comittee and take other steps so at least small loans are easily available
to the members.
    

    
    
    	It would be very informative to know why 90% of the folks
    	running for election do not have loans with the DCU. Have
    	they found the process as painful as most of us??
    
    	What will they do to change it?? More rules, tables and
    	insane questions?? 
    
    	Feel free to answer in one liners.
    	rth

>    
>    	It would be very informative to know why 90% of the folks
>    	running for election do not have loans with the DCU. Have
>    	they found the process as painful as most of us??
>

1.  Perhaps they have paid off any loans that they had.

2.  Perhaps they currently are not in a financial situation requiring
    a loan.

3.  Perhaps the process is painful.

4.  Perhpas they got a better deal elsewhere

I don't have any loans with DCU currently. My only loan is for my house which
I got before DCU started. It's my personal philosophy not to borrow money
unless I really need to like for a house. When I want something, I save up
for it and then buy it with cash. I have not refinanced my house with DCU
because I'm waiting to find out whether DCU members will vote for a
significant change of attitude on the part of the board (whether I win the
election or not is less important than *some* alternate candidates winning).
If that happens, I will probably pay off the rest of the mortgate of my
house (about $20K) from my DCU home equity loan (currently at zero balance).

    
    At this point I am relatively debt free also.  I have a mortgage that I
    am refinancing at this point in time with another institution because I
    didn't feel very comfortable at this point in time with DCU.  I'm sure
    you can understand this.
    
    In 1988 I went to DCU to see what they were offering for new vehicle
    car loans.  I was surprised that they couldn't even beat the rate I
    could get at the dealer (even when the car loan was variable).  I
    thought it strange so decided to check Workers Credit Union since I'd
    heard so many good things about them.  Their rate was *1.5%* lower than
    DCU's at the time, and it was a fixed rate.  I guess I don't have to
    tell you who got my business.
    
    This is why I have been very displeased with statements made by DCU and
    the Board that the membership of DCU isn't borrowing money.  I have 
    maintained for some time that DCU members ARE borrowing money.  They
    are borrowing money from OTHER places because DCU's rates aren't
    competitive.  Unfortunately (?), I never got to experience first hand
    the DCU loan process.  But from what I have been told, that might also
    contribute to many members taking their business elsewhere.

I have no loans with DCU.  I found more favorable terms elsewhere.
At the time that I was interested, DCU was measuring turn-around on
loans in days, while the institution I chose was able to respond in
hours.  

I wanted to take out a fully collateralized loan against a certificate
of deposit (that is, I wanted to purchase a $15,000 CD and borrow 
approximately $13,000 against it.  The objective here is to essentially
borrow money from yourself:  the interest rate on such an instrument is
typically 2% above the CD rate, but the difference in compounding 
factors means that you *MAKE* money on the whole deal). The rates on the 
CDs were lower, and DCU insisted that it would take several days, 
applications, etc., to get the loan.  The Hudson Savings Bank opened the 
CD, processed the loan paperwork, and cut me a check in a matter of 20 
minutes.  I was able to complete the bank transactions, and all the other
matters related to my purchase, in the same day.

Also, though not a key factor, me and my money were warmly received by
the Hudson Savings Bank, while DCU came across as though the very thought
of processing a loan was a nuisance.

./chris

    	Perhaps 90% of the candidates don't have loans because 90%
    	of the DCU membership also don't have loans?

    I've moved several non-candidate notes from this topic to topic 216
    where house loan problems are discussed. Let's keep this for the
    candidates.

From:	DELNI::MUHM         "CLAIRE MUHM - NaC PERSONNEL LKG 1-1/D5 226-5869" 20
-MAR-1992 19:45:59.37
To:	ERLANG::MILLEVILLE
CC:	MUHM
Subj:	DCU Loan disclosure - Muhm

Dan, you are welcome to add the following statement to the note I've
posted in your DCU discussion #489:

I have only one loan from the DCU - it is a home equity line of credit
not to exceed $39,000.  This line of credit was granted in September, 
1990 when my husband and I were doing an extensive remodelling project
on our home.  When the line of credit was first issued I borrowed the
full $39,000;  since that time, I have paid it down to just over $27,000.

regards,
Claire Muhm
DCU candidate

From:	MRKTNG::MRKTNG::MRGATE::"A1::LUCIANO.RICH" 23-MAR-1992 15:48:31.13
To:	ERLANG::MILLEVILLE
CC:	
Subj:	RE: DCU Loan status of all candidates

From:	NAME: RICH LUCIANO  @TTB            
	FUNC: FABS/BOIS                       
	TEL: 264-2277                         <LUCIANO.RICH AT A1 at NUTMEG at T
TB>
To:	NAME: MILLEVILLE <MILLEVILLE@ERLANG@MRGATE@MRKTNG@MKO>


    I had received my home loan from the DCU....the DCU sold that loan to a 
    third party...so currently I have no DCU loans.
    
    RIch