While credit unions talk about how their board members are volunteers, many of these volunteers are handsomely rewarded with perks, such as trips to conferences in exotic locations.
For example, CUNA is offering its Volunteer Institute in Punta Cana, Dominican Republic at the Paradisus Palma Real Golf and Spa Resort. The Institute will run from May 19 through 22, 2013.
If a credit union volunteer cannot attend CUNA's Volunteer Institute, there are plenty of other junkets available.
Volunteers can get their credit unions to pay for an all inclusive junket on The Panama Canal Credit Union Educational Cruise Conference (February 15 - 25, 2013). The educational cruise will stop in the Bahamas, Aruba, Curacao, Panama, and Costa Rica. The cost of the cruise begins at a price of more than $3,000 and does not include airfare.
Another possibility for credit union volunteers is to explore the Galapagos Islands with CU EduCruises. This educational excursion will take place during June of next year at a tidy price of over $7,000 per one volunteer per cabin. If the volunteer brings a guest, the price per cabin jumps to over $12,000.
CU EduCruises also offers a cruise to the Canary Islands.
Dykstra, calif league CEO, will be on everyone of those junkets. She is a junkie for junkets.
ReplyDeleteDiane has not met a junket yet that she does not like. Diane's CCUL travel expense budget exceeds what most credit union CEO's in CA earn. On her next World Trade Council Junket how about providing her with a 1-Way ticket? Last time I looked at CA CU Call Reports over 25% were reporting negative income through 9-2012. I am glad to see this has not slowed Diane down from her global out of state travel. Someone at the CCUL should encourage Diane to stay in CA and try to help out her dues paying card carrying constitutients. Pretty soon these credit unions will recognize where all their dues money is going and might shut down Diane's extravagent travel by way of disaffiliation from the CCUL. She is built for comfort not for speed.
ReplyDeleteCredit unions all over, of all sizes should take notice and perhaps follow the lead of others and disaffiliate.
ReplyDeleteWe haven't held leagues and Cuna accountable.
There must be a reason that the following are not affiliated anymore.
Navy.
Pentagon.
Texas Dow.
New Mex Educators.
Johnson Space Center.
Wings.
I believe there are others.
Let's continue the list, what other credit union has put the membership ahead of the trade association?
I'd like to find the source info for travel for the California league. Is there an article? Could only find a 990 from 2010...
ReplyDeleteI find it more distasteful. At my CEO (near $200M) we ban out of state travel unless somebody has one incredibly good story.
Keith-
ReplyDeleteCut these folks some slack. You see we are tax exempt not for profit federal credit unions. The money we don't pay in federal taxes we spend on Director travel. Now we would like to travel local but some of these foreign country junkets are just too good to pass up. The directors serve as volunteers on the credit union board so we should "indirectly" compensate them with a nice balcony cruise cabin and the midnight buffet, too. And we are stimulating the U.S. economy because they have to board a plane here in the U.S. in order to reach these exotic destinations. They will probably buy a key chain at the airport gift shop since the credit union has a generous expense reimbursement policy. And look at what the NCUA has been spending on travel as of late. So we are merely keeping up with our friendly federal regulator at the NCUA. And since the Directors are getting greased like pigs at the trough how can they complain when their CEO expects to go first class, too? So stick the members with more fees, less dividends increase the spread and book the next junket. Questions? Call NCUA and speak to Fryzel or Matz for expense voucher reimbursement instructions.
The individuals that attend these "conferences" deserve the spotlight they receive...
ReplyDeleteI can't think of one credit union that engages in international banking. "Educational" trips outside of the US are obviously not needed.
ReplyDelete