Friday, September 19, 2014

No Follow Up Report on September 2013 Community Charter Approval

A year ago, the NCUA Board approved an expansion of the community charter for Peoples Advantage Federal Credit Union to serve the Richmond (VA) Metropolitan Statistical Area.

But the transcript from the September 2013 NCUA Board meeting shows that Board member Michael Fryzel expressed deep reservations about the ability of the credit union to serve this expanded community charter. He requested a follow up report from staff to the NCUA Board one year after the community charter approval on how the "credit union is doing and what part of their new market they're penetrating and if they are achieving the goals they said they would in their marketing plan."

Well, it is one year later. Fryzel is no longer on the NCUA Board and there was no report to the NCUA Board at its September 2014 meeting on how the credit union is doing in serving this expanded community.

Out of sight, out of mind.
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1 comment:

  1. AnonymousSeptember 20, 2014 at 8:21 PM

    No follow up, no surprise. If they do now, it's only because of your blog. So thanks. They should be made to keep their commitments and be accountable to something.

    ReplyDelete

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