Thanks to a column by Stuart Perlitsh, CEO of Glendale Area Schools FCU, I was informed about a credit union education junket.
CU Conferences is hosting a 10-day Mediterranean Odyssey Credit Union Educational Cruise Conference aboard the Holland America ship ms Noordam from August 2, 2010 to August 12, 2010.
The educational cruise includes stops in Barcelona, Monte Carlo, Malta, Tunis, Florence, Naples, and Rome.
The cost per participant ranges from $2995 for an Inside Stateroom to $4695 for Deluxe Verandah Oceanview. Spouse or guest rate runs from $995 to $1495. These rates do not include taxes and fees of $377.40 per person.
Some within the credit union industry are questioning the wisdom of having such a cruise. Stuart Perlitsh wrote:
"Did Congress envision the savings credit unions realize from our federal tax-exempt status would be spent cavorting around the midnight buffet on Mediterranean cruises? Facing certain unknown NCUA assessments, is now the time to cruise the Mediterranean? The future of the credit union industry faces real threats; is now the time to cruise the Mediterranean?"