tag:blogger.com,1999:blog-319775530671726401.post1841305846675909020..comments2023-10-01T09:18:26.162-04:00Comments on Keith Leggett’s Credit Union Watch: Over Half of All CUs Saw Membership DeclinesKeith Leggetthttp://www.blogger.com/profile/14794334790117033547noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-319775530671726401.post-86920441301640284282014-01-17T08:46:37.389-05:002014-01-17T08:46:37.389-05:00The large credit unions are growing by merger and ...The large credit unions are growing by merger and liquidation of the small?<br />We are eating our young?<br />Really?<br /> Name one merger by a large credit union of a healthy small credit union.<br />If you can, you won't be able to name 5 others.<br />Here is what is eating alive credit unions....lack of need.<br />There are too many credit unions and banks.<br />Bluebird is only about a year old and probably has more members than 3000 small credit unions.<br />There is another thing eating credit unions...credit unions.<br />We have been paying dues to trade associations that have won us ZERO of the regulatory relief we need and while they've watched congress kill us with more <br />CFPB-S!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-16691108579274013652014-01-16T13:24:43.649-05:002014-01-16T13:24:43.649-05:00Perhaps the loss of membership in smaller CUs is d...Perhaps the loss of membership in smaller CUs is due to regulatory requirements mandated by failure of banks to act like good citizens (mortgages, privacy, truth-in-[fill in the bland]) which caused the CFPB to be created. Maybe because today's consumers want services that small institutions cannot afford due to low margins and high investment/people/regulatory costs. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-81883475750858865342014-01-16T11:39:55.658-05:002014-01-16T11:39:55.658-05:00Agreed. Methodical cannibalization. In this the ...Agreed. Methodical cannibalization. In this the real cu owners, NCUA and CUNA, are no different than bank owners. <br /><br />What was a cooperative system is now tyrannical and probably obsolete, just preparing to be absorbed into the banking system 10 years from now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-15942161086938553682014-01-16T10:15:23.661-05:002014-01-16T10:15:23.661-05:00keith - we are eating our young. the growth is du...keith - we are eating our young. the growth is due to credit union mergers and liquidations. the small credit unions are shutting down at the speed of light. the large credit unions are not growing organically. the large credit unions are growing by way of mergers and liquidations. Why spend money on organic growth when you can grow your membership by eating your young?Anonymousnoreply@blogger.com