Friday, July 31, 2020

That's All Folks!

After writing almost 3,000 blog columns for slightly more than 11 years, this will be my last blog entry. 

I have followed credit unions for approximately 25 years over my career. This blog was just one part of my career. 

I am an outsider. I never belonged to a credit union.  For some true believers in the credit union industry, my views may have been heresy. 

My first entry was on June 16, 2009 and it looked at the NCUA Board allowing corporate credit unions to retroactively backdate their capital levels. 

Over the years, I have written about the corporate credit union crisis, the credit union taxi medallion lending debacle, the merger of banks into credit unions, and other issues. 

I have decided that this is the right time to stop writing this blog. 

However, that does not mean that I will quit following credit unions and the National Credit Union Administration. I may even opine on arbitrary actions by NCUA. 

In conclusion, I wish to express my gratitude to the people who have read this blog.
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12 comments:

  1. jnhJuly 31, 2020 at 7:20 AM

    Keith - I found value in your posts and your perspective broadened my perspective as a "credit union person". I'll miss reading! Janice Hollar

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  2. jim blaineJuly 31, 2020 at 9:13 AM

    There is nothing more valuable to an individual than an honest, thoughtful, "nothing-will-be-overlooked" critic...that's why we marry - right?

    Credit unions also thrive best when forced to confront their - not infrequent - failings, inconsistencies, and hubris.

    Keith, you have served as the CU Cassandra with great distinction over the last dozen years. You frequently made us cringe and squirm - justifiably!

    So Keith, like it or not, your blog has been a tremendous asset to the CU movement!!! A nomination for a CU Foundation Wegner Award would be appropriate! All we need is a recommendation letter from the ABA, okay?

    Thanks for the intelligent, maddening mirror ...it will be missed.

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  3. Robin MarohnJuly 31, 2020 at 11:36 AM

    I, too, found value in your perspective though I'd be lying if I didn't admit to loud bursts of profanity. Good luck, have fun and stay safe!

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  4. Jason TaylorJuly 31, 2020 at 12:04 PM

    Thanks for all your work Dr. Leggett. Your blog is a treasure trove of information.

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  5. Grandmaster BJuly 31, 2020 at 12:05 PM

    Keith - while I don't agree with your views on Credit Unions I appreciate your passion and for making me stop to make sure I'm considering all points of view.

    To that end, I encourage you to join your local credit union and see what our true commitment to member service is really about.

    While there are larger CU's who have strayed from their original mission, the vast majority still exist to serve the under-served.

    Best of luck in your next adventure!

    Brad Barnes - CFO, Air Academy FCU

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  6. AnonymousAugust 3, 2020 at 7:09 AM

    Keith - I actually found your posts more balanced than what I have read from some CU advocates. For example, Chip Filson and the Bozo's at Callahan & Associates denying that there were any issues with the Corporate Credit Unions, especially WesCorp. At least with you we had someone that had the intellect to actually comprehend and issue, albeit we may have disagreed with you on your conclusion.denying that

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  7. Mike LordAugust 3, 2020 at 10:42 AM

    Keith, I've tuned in over the years to read your assessments and criticisms of credit unions.

    Frequently annoyed, but often informed, I found value in your shining a light on areas we could improve on to stay true to credit union philosophy and principles.

    My blood pressure may now improve, but your critiques made credit unions better. Thank you.

    Mike Lord, CEO SECU Raleigh NC

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  8. UnknownAugust 3, 2020 at 7:23 PM

    Hi Keith.

    As someone who has only recently discovered your blog, I wanted to thank you for your published works.

    I also hope that you can leave the archive up as I have found it to be a very helpful research tool (and your work will live on).

    All the best!

    James Hartmann

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  9. AnonymousAugust 4, 2020 at 10:12 AM

    As a former bank and current credit union regulator, I enjoyed reading your posts and found them informative. Good luck in retirement and I look forward to reading your opinion on future credit union related matters because I know you just won't be able to resist.

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  10. AnonymousAugust 4, 2020 at 11:16 PM

    You sir will be missed. I hope the storm did not cause too much damage.

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  11. AnonymousMarch 26, 2021 at 11:05 AM

    Some of your analysis and criticism was on point, but much was silly. Just think if you had spent an equal amount of time in critical analysis of the banks.

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  12. AnonymousNovember 10, 2021 at 9:47 AM

    Interesting commentary on credit unions

    https://www.slideshare.net/CarltonRoark/profiteers-of-taxexempt-banking-how-credit-unions-became-unions-of-discredit-250618653

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