I'm Back!; This and That

Posted by Anthony Demangone

Chicago was a great conference, and it reminded me how valuable in-person training events can be.  While presentations can provide a good deal of information, networking with fellow credit union peeps can be even more rewarding.  You see how other credit unions are organized, how they view the world, and how they solve problems.  It is very good stuff.  If you want to read articles about the conference, please scan through the news items at www.nafcu.org.

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NCUA Board Meeting.  The agenda for this week's board meeting is now available. 

Share insurance.  Not all of Reg Reform was bad.  The share insurance level of $250,000 is now permanent.    You may want to check on how your credit union had been advertising share insurance levels.  Some credit unions advertised it as $250,000, but noted via a disclaimer that the level was only authorized through the end of 2013.  Now that the $250,000 is permanent, such disclaimers are no longer accurate.  

Comparative advertisements.  I've always said that comparative advertisements that say that your credit union or that credit unions in general are better than banks run a bit of a risk.   People will see your ad, and they'll see if they can poke a hole in it.  I'm not saying credit unions should not run such ads.  But they should be aware of the risks involved.  One such ad was run recently, and here was the reaction. 

Comments

[Robert Joyner]

Keith Leggett - Vice President & Senior Economist of the ABA, would hardly be an impartial voice. Look up just about any proposed NCUA or Federal Reserve regulation and there will be a comment letter from Mr. Leggett praising the work of the ABA and objecting to any proposal from the NCUA. Perhaps Mr. Leggett's time and resources could be better put to use addressing the flood of failures in the banking industry, the banking industry's failure to lend when that need is most critical and treating customers as piggy banks when the industry needs to boost it's bottom line.

[Anthony Demangone]

That may be. But it is worthwhile to note that Mr. Leggett's blog is widely read in the financial services community. I wanted to simply highlight the fact that such advertisements can trigger unintended consequences.