Thursday, January 12, 2017

Jammin' in Jamaica

Credit union volunteers are Jammin' in Jamaica.

Credit Union National Association's Volunteer Conference is being held in Montego Bay, Jamaica at the Hilton Rose Hall Resort and Spa.

The all-inclusive resort is located between scenic mountains and turquoise Caribbean waters of Jamaica.

Hotel room rates per night are $319 for a single room or $375 for a double room.

The conference is scheduled to run from January 15 thru January 18. There is a pre-conference workshop on January 14.

Taxpayers are subsidizing this Caribbean junket for credit union officials.
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4 comments:

  1. AnonymousJanuary 12, 2017 at 7:42 AM

    Unpaid volunteers get some great vacations, and many get more than one per year.
    This IS the junket industry.
    That's why there are so many trade associations.
    Junkets.
    They get all that learnin that they need to improve all their leadership marketing and analytic skills.
    They get all motivated by ceos who speak about their great ideas but their cu hasn't grown in 10 years.

    Why do they do this?
    Because they can, at taxpayer expense..and or member expense.
    How many stressed homeowner members could've used their capital to make ends meet during the financial crisis?

    ReplyDelete
  2. TobyJanuary 12, 2017 at 7:39 PM

    Since credit unions aren't allowed to pay their board members, this is one way to compensate them. Hate it if you want, but if you would rather gouge account holders in order to pay overpriced salaries to part-time employees (board members), that's your prerogative. That's what banks do.

    ReplyDelete
    Replies
    1. Keith LeggettJanuary 13, 2017 at 7:35 AM

      Toby:

      While it is true that federal credit unions cannot pay their directors, a number of states allow their state chartered credit unions to pay their directors. This includes BECU, Trumark Financial, and Navigant.

      Delete
    2. AnonymousJanuary 14, 2017 at 11:00 AM

      Toby, wake up.
      If banks are gouging consumers then why do they have 95% of all deposits in America?
      The free vacations that credit union board members take (many take more than 1 per year on "member" money adds up to what most bank board members get paid). These junkets have added up to millions of member money squandered on "volunteers" who largely, though not all, have been weak stewards of cu member interests.
      How's that for gouging.

      Delete

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