Conference 7.286::dcu

It appears as if the DCU staff is constantly growing at least as evidenced by 
the large numbers of staff attending the Board meetings.

Has anyone on the BOARD OF DIRECTORS seen any INDEPENDENT comparison of a 
similar CU in terms of number of HQ employees.

Branches are being reduced, hours are being reduced, membership is being reduced
while it appears that the HQ staff is bloating.

I would like to see some figures on direct customer contact people vs number of 
HQ people over the last two years.

>           - Overall, loans held in our portfolio decreased.  The best measure
>             of loan growth, however, is to compare the total of consumer
>             loans, portfolio real estate loans, and real estate loans sold to
>             the secondary market in 1991 with the total figure as of
>             November, 1992.  This comparison shows a 15% overall year-to-date
>             growth.



Why is this the "best measure"?  

Why has DCU's portfolio of loans decreased?



Thank you,

  Scott

Is is possible to find out what goes on or is discussed at executive sessions?

If this has been asked before, I will understand. As a member I would like to
know what is being discussed.

I am part owner in this credit union.

Thanks Dave

      d.  Nominating Committee

   After some discussion, the Board requested that management look into
   amending the applicant criteria for next year's election.

I would like to know what sort of amendments to the applicant criteria
the noter board members think is desirable.  


      a.  DEC Employees Time Policy

   Mr. Cockburn informed the Board that DCU's Liaisons (Ilene Jacobs, Thomas
   Siekman, and Robert Ayres) have reviewed and recommended minor changes to
   the DEC Employees Time While Serving as a DCU Volunteer Policy.

It would be nice to see this document.

	Thanks,
	Larry

Re: .2
I'll let Tanya give you a more precise answer than I could...

Re: .3
The minutes should reflect the topics discussed in executive session. But
that's why it's an executive session because the details are confidential.
Examples of topics are: legal strategy concerning the loan fraud, loans to
senior management, and internal personnel issues of DCU.

Re: .4
Some of us felt that the nomination committee criterion was overly strict -
one of the requirements as I recall was something like you must not have
missed any payments on any loan for the past 3 years. DCU can give you the
details. The ammendment request was to remove some of the requirements.

I don't see why DCU can't release the information about the volunteer time
policy, why not call them and ask?

    
    RE: number of DCU employees
    
    The number of DCU employees has declined.  I believe there are a little
    over 200 total employees.  I believe it is best to hear and see as many
    DCU employees as possible in our meetings (within reason).
    
    
    RE: Executive session
    
    There are some issues which must be kept confidential.  To disclose
    them would do damage to individuals and/or DCU as a whole.
    
    
    RE: Volunteer Policy
    
    This is a *Digital* policy, not a DCU policy so you might want to
    start with Digital H.R..

RE: 650.2

>           - Overall, loans held in our portfolio decreased.  The best measure
>             of loan growth, however, is to compare the total of consumer
>             loans, portfolio real estate loans, and real estate loans sold to
>             the secondary market in 1991 with the total figure as of
>             November, 1992.  This comparison shows a 15% overall year-to-date
>             growth.



>Why is this the "best measure"?  

It is the "best measure" because it reflects true growth.  We sold $128M
in primarily thirty-year fixed rate mortgages in 1992 vs only $52M in
1991.  We have the opportunity to hold these loans on our books vs selling 
them on the secondary market but doing so would increase DCU's sensitivity 
to a rise in interest rates.

>Why has DCU's portfolio of loans decreased?

We did not replace many fixed-rate mortgages coming off our books due to
the low interest-rate environment.

Regards,

Tanya


    

    Tanya,
    
    Thanks for the information.  Now I understand it better.
    
    
      Scott