| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 907.1 | how quickly can I move my money.... | RANGER::TRYST::Rozett | We're of difn't worlds, mine's EARTH! | Tue Dec 13 1994 12:36 | 15 |
| >> redirection of funds as long as it is properly planned. Mr. Trott
>> explained that the Board's responsibility is to ensure DCU's future.
>> There
>> are 180 employees counting on the Board to ensure that they have jobs to
>> go
>> to every day - without employees and a stable credit union, there will be
>> no services for members.
It is really comforting to me to know that the NCUA has a firm grasp on why the
DCU exists and who it is meant to serve.
NOT!
//bruce
|
| 907.2 | NOW they show up? | AWECIM::MCMAHON | Living in the owe-zone | Tue Dec 13 1994 13:17 | 18 |
| I find this meeting very interesting. Now that the 'fun and games' with
the election are over, the NCUA pops in and flexes their muscles.
They're just now becoming aware that the sponsor had a bad quarter.
Where were they the last 4 years? Did they have such a meeting with the
then-current board 3 years ago? 2 years ago? 1 year ago?
The capital ratio is at an all-time high but that's not good enough,
they want to make sure that we continue to grow that at (virtually) all
cost? Also, they don't really care if we try to strengthen the
membership or get as many of the previous owner-members back as we can
so the CU can once again be a real benefit - just make sure the 180 DCU
employees have a job.
This just seems vey bizarre to me. They admit that the CU was 'in
trouble' before and during the election (that's what they attributed
the high member-owner participation to), but they wait till the dust
settles and the blood dries before bellying up to the bar? Give me a
break.
|
| 907.3 | Chuck's last shot??? | ROWLET::AINSLEY | Less than 150 kts. is TOO slow! | Tue Dec 13 1994 13:50 | 7 |
| I'll give the BoD credit for not telling the NCUA to .... (maybe I'd better
not finish this sentence).
I wonder what (or who) brought this on? Take care of the employees and
the almighty capital ratio and ignore the owners...yeah right.
Bob
|
| 907.4 | | SHRMSG::BUSKY | | Tue Dec 13 1994 14:01 | 12 |
| > do what is good for the financial stability of the entire credit union as
> well as focus on what the members desire. He explained that a benefit to
> the entire institution is far better than a benefit to a select group of
> members.
Hmmm, so the NCUA is saying that the "Relationship Banking" model
which provides benefits for a "select group" is not a good idea!
Looks like the new board is on the right track. Keep up the good
work!
Charly
|
| 907.5 | | WRKSYS::SEILER | Larry Seiler | Tue Dec 13 1994 15:17 | 3 |
| Fascinating meeting -- wish I'd been able to be there!
Larry
|
| 907.6 | | RLTIME::COOK | | Tue Dec 13 1994 16:41 | 6 |
|
Does anyone know if they have ever called a meeting like this?
al
|
| 907.7 | | MOLAR::DELBALSO | I (spade) my (dogface) | Wed Dec 14 1994 08:44 | 7 |
| I'm beginning to miss -
X
X
X
X
|
| 907.8 | Membership loss | WRKSYS::SEILER | Larry Seiler | Fri Dec 16 1994 12:24 | 17 |
| The meeting minutes contain a detailed explanation of why we lost so
many members in September of last year. There is an important point
that was left out of the report in the minutes -- hopefully those
present at the Board meeting understood it. The point is that each
of those inactive accounts was at one time an active account. So
although we do not know exactly when each member decided to become
inactive, we do know that they all made that decision. The closing
of the inactive accounts *does* represent a loss of members. It is
valid to explain away the abrupt loss of formal members in September,
but only if we acknowledge that all of those people in effect ceased
their membership at some earlier time. In my personal view, the
Board should not worry about the sudden loss of those members in
a single month, but should worry about the loss of those members.
I am confident that the Board is keeping this issue in mind.
Regards,
Larry
|
| 907.9 | | CADSYS::RITCHIE | Gotta love log homes | Tue Dec 20 1994 15:46 | 4 |
| I thought some of those accounts that were closed were dummy checking accounts
created for loans only, and that no members were lost.
Elaine
|
| 907.10 | | MIGHTY::WILLIAMS | Bryan Williams | Thu Dec 29 1994 02:43 | 11 |
| > Mr. Garrod reiterated that capital growth is important and asked Mr.Cantor
> what he considers to be a bad capital position. Mr. Cantor explained that
> the burden of that decision is on the Board - the NCUA makes a judgement
> call based on available information thereafter.
Typical government bureaucrat doublespeak. "You do what you think is right, and
we'll screw you over AFTER you make a mistake, because we have the benefit of
hindsight." Sounds almost like the IRS or BATF. Typical since all three are
functionaries of Treasury...
Bryan
|