Conference 7.286::dcu

868.0. "868 reposted" by ROWLET::AINSLEY (Less than 150 kts. is TOO slow!) Thu Aug 25 1994 14:18

This is the reposting of the 3G's mailing.  Deleted text is represented by a
series of ".....".  The length of the series of dots is random.  It is
determined by how long I happen to leave my finger on the "." key.

Bob - Co-moderator DCU

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Note 868.0         Letter from Phil Gransewicz to DCU members         No replies
ROWLET::AINSLEY "Less than 150 kts. is TOO slow!"   191 lines  21-AUG-1994 15:36
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From:	US1RMC::"[email protected]" 21-AUG-1994 00:25:57.95
To:	rowlet::ainsley
CC:	
Subj:	3Gs mailing


Bob & Bill,

Please post this message in the DCU notes conference.  It pertains
to the current election.

In accordance with DCU's Election Rules, I have request that the
following letter be mailed to selected DCU members.  I regret that
I did not have the funds to send the mailing to the entire membership.
Given the results of the recent telephone survey that indicated that
many DCU members were unaware of the new "Relationship Banking"
approach at DCU, 

...............

The mailing was sent to approximately 9,400 DCU members who have
paid checking fees since DCU implemented "Relationship Banking" in
January, 1994.  I have been told that the original sort was approximately
10,300 members, however, almost 1,000 members that were charged
fees are no longer DCU members.

Thanks,
Phil

------------------------------------------------------------------------------


                          August 15, 1994


Dear DCU Member,

You are receiving this letter because you are one of the thousands of DCU
members that have paid the new checking account fees that were implemented
in January, 1994 under DCU's new way of doing business, i.e. "Relationship
Banking".  In a recent telephone survey conducted by DCU, 73.3% of the
membership were either unaware of this major change or didn't think DCU had
a "Relationship Banking" approach.  

.........

As a Director on the current Board of Directors I have always considered
myself to be a representative of all DCU members and have tried to carefully
balance the needs of the credit union with the financial needs of the
membership.  As a DCU Director, I voted against the implementation of
"Relationship Banking" and its new checking account fees because, after
careful review of all the information presented, I believed that it was not
in the best interests of the membership and the credit union.  The class
structure that it has created within the organization you own grants many
members free checking (as well as other services) while others pay checking
fees which are more than the amount required to maintain the checking
account.  I believe this over payment is a form of subsidization for other 
DCU members, who pay nothing for their checking accounts.  I believe that
fees on basic credit union services are inappropriate in a credit union.  If
DCU management could present a valid case for the financial need for these 
checking account fees, I would examine the information carefully and evaluate
appropriate actions.  However, given DCU's record profits over the last two
years (over $10,000,000), I believe no valid financial need exists.

In November, 1991 the membership spoke loud and clear at a Special Meeting
that was called to, among other things, rescind checking account fees.  It
is very important that your elected representatives to the Board adhere to
the will of the membership when membership expectations are reasonable, given
the financial condition of the credit union.  

.......

current Board Chairman, Lisa Demauro-Ross campaigned two years ago
and put her name on a joint statement that stated "Focus on loaning money to
members at good rates and try to hold the line on fees".  Yet, only six
months after taking office, Ms. Demauro-Ross (as well as incumbent Paul
Milbury) voted to implement "Relationship Banking", including its new
checking account fees.  I was one of only two Directors (Paul Kinzelman also
voted against "Relationship Banking") that voted against DCU management's
recommendation that "Relationship Banking" be implemented.

........

We stand ready to implement the will of the membership.  If we are elected,
then a majority of Directors on the DCU Board will not support the continuation
of the checking account fees or fees on basic services.  

................

This mailing is being sent to all DCU members that have been charged a
checking account fee since January 1994 and who have received a ballot for
the election currently in progress.  The cost of this mailing (almost $4000)
has been borne by the myself, Christopher C. Fillmore-Gillett and David J.
Garrod.

.........................

Regards,

Philip J. Gransewicz
Member, DCU Board of Directors

------------------------------------------------------------------------------

----------------

(backside of folded mailer)



...................



3G's Election Campaign
P. O. Box 615
Bolton,  MA  01740


DCU Member:
Please read the important information inside.









This material was produced using the private funds of Philip J. Gransewicz,
Christopher C. Fillmore-Gillett, and David  J. Garrod, candidates for the
DCU Board of Directors.  The opinions expressed are solely those of the
candidates.   

...................

This material may not be reproduced in part or in its entirety without the
expressed written permission of the authors. (COPYRIGHT SYMBOL)




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