Conference 7.286::dcu

�     Consumer loans grew $3.1 million in November.  The major source of growth
�     was credit card loans which jumped from an annualized growth rate of -4.2%
�     in October to 8.8% in November.  This large increase can be attributed to
�     DCU's successful VISA promotion which has added $3.0 million to credit card
�     loans outstanding.  New autos loans and unsecured loans are additional
�     consumer loans which are growing at a rate greater than budgeted.
 
    Either there are alot of idiots out there or DCU is viewed by alot of
    folks to be competitive in these areas.
         
�     which along with lower than budgeted
�     dividend expense has contributed to DCU's profitability.
 
    I fail to understand why bonuses to members was voted down if dividend
    expense is still below budget.  Why not spend according to budget?
         
�     Cockburn added that DCU must attempt to increase relationships, rather than
�     drive the single-relationship members out of DCU.  Mr. McEachin noted that
�     the steps to achieve this goal must be reflected in the goals listing.  
    
    Are these steps available yet?
      
      
�     Mr. Kinzelman asked if there could be a waiving of
�     fees for those members who are not located near a DCU branch.  Mr. Cockburn
�     explained that the strategy will take at least three years to complete, and
�     at that time, DCU can consider waiving Network fees for various segments of
�     the membership.
 
    Why will it take 3 years?  Surely there is enough historic data
    accumlated by now to make some type of decision.
         
�     *  It was moved by Ms. Mann and seconded by Mr. McEachin to update DCU's
�     Loan Policy by reducing the total loans outstanding for one member from
�     $5,000,000 to $2,500,000.  MOTION CARRIED UNANIMOUSLY.
 
    Not that I'll have have this problem, but why the limit?  Lowers risk?

�     Consumer loans grew $3.1 million in November.  The major source of growth
�     was credit card loans which jumped from an annualized growth rate of -4.2%
�     in October to 8.8% in November.  This large increase can be attributed to
�     DCU's successful VISA promotion which has added $3.0 million to credit card
�     loans outstanding.  New autos loans and unsecured loans are additional
�     consumer loans which are growing at a rate greater than budgeted.
>>> 
>>>    Either there are alot of idiots out there or DCU is viewed by alot of
>>>    folks to be competitive in these areas.
    
    And can you imagine if THE ENTIRE MEMBERSHIP was using DCU's credit
    card how successful we'd be?!
    
�     which along with lower than budgeted
�     dividend expense has contributed to DCU's profitability.
>>> 
>>>    I fail to understand why bonuses to members was voted down if dividend
>>>    expense is still below budget.  Why not spend according to budget?
    
    Pick one:
    
    1) Because we don't have to.
    2) The market dictates price.
    3) The rates are already "competitive".
    4) Any or all of the above
         
�     Cockburn added that DCU must attempt to increase relationships, rather than
�     drive the single-relationship members out of DCU.  Mr. McEachin noted that
�     the steps to achieve this goal must be reflected in the goals listing.  
>>>    
>>>    Are these steps available yet?
    
    Please contact Chuck Cockburn directly.  He may read the conference but
    he can't reply.
    
�     Mr. Kinzelman asked if there could be a waiving of
�     fees for those members who are not located near a DCU branch.  Mr. Cockburn
�     explained that the strategy will take at least three years to complete, and
�     at that time, DCU can consider waiving Network fees for various segments of
�     the membership.
>>> 
>>>    Why will it take 3 years?  Surely there is enough historic data
>>>    accumlated by now to make some type of decision.
    
    "Taking 3 years" = "Thank you for your input."  (IMO)
         
�     *  It was moved by Ms. Mann and seconded by Mr. McEachin to update DCU's
�     Loan Policy by reducing the total loans outstanding for one member from
�     $5,000,000 to $2,500,000.  MOTION CARRIED UNANIMOUSLY.
>>> 
>>>    Not that I'll have have this problem, but why the limit?  Lowers risk?
    
    Yes, lower risk.  Too many of our eggs in one basket.  If two of these
    were to go into default, half of our equity would be at risk.  I,
    absolutely, positively support this limit.
    

�    And can you imagine if THE ENTIRE MEMBERSHIP was using DCU's credit
�    card how successful we'd be?!
    
    I can imagine but sometimes reality steps in.  What's that they say
    about leading a horse to water?  BTW, the Visa profit info you've
    posted -- is that direct profit for DCU or profit for VISA?
    
�    Please contact Chuck Cockburn directly.  He may read the conference but
�    he can't reply.
    
    Does this mean he hasn't provided it to the board yet or that you are
    not at liberty to post it?
    
    

    
    RE: .3
        
>    I can imagine but sometimes reality steps in.  What's that they say
>    about leading a horse to water?
    
    Think big, big things happen.  Think small,...  Not sure that credit
    card fees lead members to water, well maybe somebody elses water.
    
    >BTW, the Visa profit info you've
>    posted -- is that direct profit for DCU or profit for VISA?
    
    It refers to DCU profit.  Why would we care about profit to VISA?
    
>    Does this mean he hasn't provided it to the board yet or that you are
>    not at liberty to post it?
    
    It means that I cannot speak for him.  I don't want to interpret any of
    his words.  He is the best person to do that.
    
    RE: .4
    
>    in general session, as if there were something that happen yet is not
>    listed in the minutes.  are these more redated minutes?  are these
>    attempts to limit what we see?  or are these mini-executive sessions
>    or am I reading too much into the minutes or lack thereof?
    
    I had asked that the topic headings be maintained.  Guess it wasn't. 
    I'll try and get this corrected.  More fun.
        
>    I also would like to know more why it would take 3 years to study 
>    eliminating fees at foreign ATMs.  More importantly, I'd like to see
>    any director in the minutes challenging the idea.
    
    Again, probably best asked of Chuck.  A better statement might be that
    the minutes do not reflect any director challenging the idea.  Best to
    ask each one to make sure where they stand.
    
>    Are we really making $5million loans to a member?  wow.  no wonder why
>    the directors don't want to think of us scum small dollar savers!
    
    If memory serves me, loan policy limits individual loans to $1,000,000. 
    The $5,000,000 was an total of ALL loans to a member.  
    

�    It refers to DCU profit.  Why would we care about profit to VISA?
    
    Obviously VISA makes a profit.  I just wanted clarification on your
    numbers.  I don't want you to get accused of posting more
    misinformation.  Thanks for the clarification.
    
�    It means that I cannot speak for him.  I don't want to interpret any of
�    his words.  He is the best person to do that.
    
    Such a fuss over a very simple question.  The minutes stated that the
    steps for acheiving that goal would be published along with the goal. 
    Since over a month has passed and I assume there has been another board
    meeting, I was wondering if those steps have been defined.  Is it safe
    to assume that they haven't, or that at least they haven't as yet been
    presented to the Board?

    
�     Consumer loans grew $3.1 million in November.  The major source of growth
�     was credit card loans which jumped from an annualized growth rate of -4.2%
�     in October to 8.8% in November.  This large increase can be attributed to
�     DCU's successful VISA promotion...
    
    Or it could have been the leading edge of Christmas spending. The real
    story would be in a comparison against November of the previous year.
    
    
    By the way, I noticed our "peers" (who are they, by the way?) are up to
    a 9.2% capital ratio. Is that to become our new goal??
    

    What were the specifics of the VISA promotion?
    
    Thanks,
    
    Bob

�    It means that I cannot speak for him.  I don't want to interpret any of
�    his words.  He is the best person to do that.
    
    So should we consider "Take 3 years"="Thanks for your input" as
    interpretation or his words?

    
    RE: .9
    
�    It means that I cannot speak for him.  I don't want to interpret any of
�    his words.  He is the best person to do that.
>>    
>>    So should we consider "Take 3 years"="Thanks for your input" as
>>    interpretation or his words?
    
    	If you're going to cut and paste my statements AT LEAST CUT AND
    PASTE THE ENTIRE STATEMENT!  I wrote:
    
    "Taking 3 years" = "Thank you for your input."  (IMO)
                                                    ^^^^^
    
    I have seen and heard enough to form an opinion on the issue that
    statement referred to.  I have NOT done so on the issue you asked
    about so ASK CHUCK COCKBURN.
    

    I was just trying to understand why you feel qualified to interpret
    some of Chuck's statements and not others.
    
�I have NOT done so on the issue you asked
�    about so ASK CHUCK COCKBURN.
    
    One more time:  Should I take this to mean that Chuck, the Board,
    whoever has not come up with the steps to meet these goals yet?  
    
    I know this is risky but I'll follow on with a related question:  Any
    idea when these steps might be available?

    
    Since DCU management is reading this conference now, maybe you'll get
    a call if you list your DTN Keith.  Or maybe all the other Board
    members that are out there reading will comment?  Maybe they'll call
    you too.  Let us all know the answer.
    

    I guess I shouldn't ask any tough questions.

    
    Facts, facts, facts Keith.  Aren't you the man in search of facts? 
    You'll accept nothing but facts.  Well I'm telling you those people are
    better sources for those facts.  But as is the case with everything I
    reply to you, you simply play games with it.  Nothing but games Keith.
    I don't mind answering your questions but your games I just don't
    have time for.  Why do you refuse to seek information from those people?
    Let us all know your findings.
    

    
    Re .13:
    
    Tough questions are good.
    
    The word games and martyred-hero ploy are tiresome.
    

    
    Usual Keith, I HAVE answered your question.  You simply refuse to
    accept the answer.  Business as usual.  Please ask those who you feel
    comfortable believing.
    

    
    HEY!!!
    
    .16 used to be Keith's reply!  Now I'm .16 and my reply refers to
    Keith's deleted reply.  Oh well, I can only hope that this means Keith has
    accepted my suggestion.
    

    This is open and honest communication?  Why can't you just answer the
    question?  You've answered everybody else's questions about these
    minutes and I've answered plenty of your questions.
    
    I'll make it even easier:
    
    Pick one of the following:
    
    No, the steps that were requested at the December meeting have not been
    presented to the BoD yet.
    
    Yes, they have and here there are:__________________________
    
    Yes they have you can get them from:________________________
    
�    The word games and martyred-hero ploy are tiresome.
    
    Not as tiresome as all of the kneejerking going on.
    
    Wow, first I'm a friend of DCU managment, now I'm a hero.   Maybe I'm
    in line for an illegal loan.

>    Wow, first I'm a friend of DCU managment, now I'm a hero.   Maybe I'm
>    in line for an illegal loan.


Keith, PLEASE get off this crap about illegal loans.  That characterization
is a fabrication on your part that we're all getting real sick of hearing.

Chris

    Huh?

    
    Well Keith as you've clearly pointed out in .18, my answer to you is
    not listed in your list of valid answers.  Why am I not surprised?
    
    Chuck, please give Keith a call at DTN 225-6171 and answer his burning
    question.  At least you'll have a form to use...
    

�    Well Keith as you've clearly pointed out in .18, my answer to you is
�    not listed in your list of valid answers.  Why am I not surprised?
    
    I guess that's because you feel "Don't ask me" is a valid answer.  I'm
    sorry for mistaking you for an informed member of the Board of
    Directors.

>    Huh?

Which word didn't you understand?

-Glenn-

    All we need is something from Mark Buda and my day will be complete.

    
    Resorting to insults Keith?  How unfactual of you.
    
    Have you tried communicating with any of the people I have referred
    you to?  Probably not.  Much more productive to insult me I guess.
    Why do you expect me to be your errand boy for all your facts?
    Time for you to venture out into the cold, cruel world on your own
    Others done it, why not you?
    
    Let us know what you find.
    

>    I guess that's because you feel "Don't ask me" is a valid answer.  I'm
>    sorry for mistaking you for an informed member of the Board of
>    Directors.

That snipe is getting a little close to being under the belt ... and I think
that it was uncalled for.

Phil, do you have the info Keith is requesting ?

if no, Has ANY board member been provided, to your knowledge, with that info ?

if no, Have you or any board member asked for that info from DCU management ?

if yes, Have DCU management offered to get it for you and how long ago ?

If no or yes, then Keith, maybe YOU can be more successful than Phil or the 
other Directors in getting it from Chuck and DCU management by a direct call.

Now once we have the answers to this string of questions, perhaps we can
get past this seemingly childish behaviour!

Stuart

    All I want to know is if that information has been provided yet.  I
    really don't understand the big deal.  Maybe now that someone else is
    asking the question we'll get an answer.

    
>    All I want to know is if that information has been provided yet.
    
    Yeah, right.
    
    -Glenn-

    OK, Glenn, what is it that I want to know?  You seem to know more about
    me than I do.

re:  .31

.31 references .30...what happened to .30?

Chris

My guess is that Macneal cried to the moderator.

-Glenn-

    You guess wrong, Glenn.  I didn't even see the note in question, and I
    have never complained to the moderator about anything posted in here.

>                        -< after .33, maybe I'll start >-