Comments on: Credit Unions, Welcome to the Financial Crisis

By: The Financial Brand

The Financial Brand — Thu, 07 May 2009 14:19:13 +0000

Las Vegas Review Journal: “Nevada credit unions face losses”
http://www.lvrj.com/business/44444867.html

By: The Financial Brand

The Financial Brand — Tue, 05 May 2009 14:59:21 +0000

“Credit Unions Stressed Like Banks”
http://www.pe.com/rss/business/stories/PE_Biz_S_creditunions05.36305e3.html

By: Paul Stull

Paul Stull — Sun, 03 May 2009 16:34:03 +0000

Articles like this one in Tampa point up issues with losses, investments and everything CU’s don’t want to discuss. For many members this news story will be the first time hey start questioning their own CU. Many CU’s choose to ignore the situation…what is your CU doing?
http://tinyurl.com/cy9cwl

By: The Financial Brand

The Financial Brand — Sat, 02 May 2009 14:00:02 +0000

And this story about Bay Fed comes from the San Jose Mercury News: "Bay Federal Credit Union posts $12.5 million loss"

By: The Financial Brand

The Financial Brand — Sat, 02 May 2009 13:48:19 +0000

Another example from the St. Petersburg Times: "Some credit unions -- like banks -- pursued risky ventures and lost."

By: The Financial Brand

The Financial Brand — Sat, 02 May 2009 13:44:29 +0000

This one from the Seattle Times dwells on BECU in Seattle: "Corporate troubles prove costly for BECU."

By: The Financial Brand

The Financial Brand — Sun, 19 Apr 2009 15:14:45 +0000

Another example: "Iowa credit unions pay price for others' bad choices."

By: The Financial Brand

The Financial Brand — Sat, 18 Apr 2009 17:56:50 +0000

Article in the San DIego Union Tribune: "Economic heat encroaching, credit unions seek U.S. help." It details the local impact of the corporate credit union meltdown.

By: Paul Stull

Paul Stull — Fri, 10 Apr 2009 17:13:12 +0000

I can’t leave Bill’s comment on April 9 alone. So lets see, government $$ should be used to bailout FOR PROFIT companies so they can continue to pay shareholders and executive bonuses….but it should not be used to help NOT for profits that serve the average guy? I see that really makes sense. I am writing my congressman now asking to have the fed pump more $$ into all of the DJ top 100. It only make sense.

CU’s pay state and local property taxes, sales and use taxes and payroll taxes. They do pay taxes. Many banks, under sub chapter S, pay little or no taxes and many are getting TARP money.

If I use Bill’s logic, banks getting tarp $$ is finally leveling the playing field…they are getting the tax break they need to compete with CU’s. Afterall an industry that serves less than 2% of all American HH’s is a giant thret to all banks and should be eliminated as quickly as possible.

I dont care if CU’s get Tarp $$, but this dude is just wrong. Sorry Bill, you just are.

Check out this TV News story…you will get the picture
http://www.ky3.com/news/contactky3reports/42704847.html

By: Editor

Editor — Fri, 10 Apr 2009 14:25:58 +0000

Here's a great example: Security Service FCU takes a positive story about itself and CUs to the press following the failure of 2 corporates.

By: Bill

Bill — Thu, 09 Apr 2009 20:31:23 +0000

Creidt unions are now in the game just like banks. For those not aware, most credit unions do not pay federal or state income taxes like banks, however they offer all the same services as banks and in many cases to all the same customers as banks. Until Credit Unions pay taxes they should not be eligible for Government assistance. Credit Unions pushed to get into the banking business including commercial lending so they should work through their problems or joing the party and pay into the federal and state payrolls.

By: Editor

Editor — Mon, 30 Mar 2009 14:15:24 +0000

Example of a local article here, referencing higher insurance premiums:
http://sarahpalininformation.wordpress.com/2009/03/29/alaska-dodges-banking-collapse/

By: Editor

Editor — Wed, 25 Mar 2009 15:28:25 +0000

Here's a good example of something that came out Monday.

By: Shared iDiz » Posts » Public resentment is a terrible thing to waste

Shared iDiz » Posts » Public resentment is a terrible thing to waste — Wed, 25 Mar 2009 13:13:19 +0000

[...] for you. If you’re not sure how to proceed, Jeffrey Pilcher of The Financial Brand wrote a great post on how to communicate to your members and the media. But the important point to remember is that [...]

By: Editor

Editor — Tue, 24 Mar 2009 11:18:25 +0000

Good point Paul. As you said on Twitter yesterday and intimated above, ultimately it will be members who pay for this mess with their own money. They should be informed about what’s happening with their money by the people who are responsible for managing it.