| Title: | DCU |
| Notice: | 1996 BoD Election results in 1004 |
| Moderator: | CPEEDY::BRADLEY |
| Created: | Sat Feb 07 1987 |
| Last Modified: | Fri Jun 06 1997 |
| Last Successful Update: | Fri Jun 06 1997 |
| Number of topics: | 1041 |
| Total number of notes: | 18759 |
o Review the lending and investment practices that led to the current state of the DCU, and report findings to the membership.
| T.R | Title | User | Personal Name | Date | Lines |
|---|---|---|---|---|---|
| 566.1 | GUFFAW::GRANSEWICZ | Tue Jun 09 1992 12:31 | 4 | ||
Hmmm, reviewed them but not sure what can be said. DCU doesn't make
participation loans anymore.
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| 566.2 | NETATE::BISSELL | Tue Jun 09 1992 12:38 | 5 | ||
Are there documented rules in place that prohibit participation loans ? or is it that is the unwritten rules ? How is this enforced ? | |||||
| 566.3 | GUFFAW::GRANSEWICZ | Tue Jun 09 1992 13:54 | 13 | ||
My personal opinion follows:
They are not written in the Bylaws if that is what you mean. As a
member of DCU, I would prefer to have it stated in the Bylaws that the
funds of the credit union cannot be invested/loaned in this manner.
Or if they are, that the amounts be limited to helping credit unions
get started and the amount of participation be limited to a very low
percentage to spread out the risk with other CUs. I believe this was
the original purpose of these types of loans. There is a world of
difference between helping others get 'booted' and financing commercial
developers.
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| 566.4 | Still waiting for the findings to be reported | SMAUG::GARROD | From VMS -> NT; Unix a mere page from history | Tue Jan 19 1993 23:35 | 4 |
The review seems to have taken place but I'm unaware of any findings
being reported to members.
Dave
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