tag:blogger.com,1999:blog-319775530671726401.post4015466408068609970..comments2023-10-01T09:18:26.162-04:00Comments on Keith Leggett’s Credit Union Watch: Not a Credible ThreatKeith Leggetthttp://www.blogger.com/profile/14794334790117033547noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-319775530671726401.post-16240730227933179492012-07-31T12:23:06.604-04:002012-07-31T12:23:06.604-04:00What is far more silly than the "threat"...What is far more silly than the "threat" of VSECU going to a federal charter is the state regulator of BANKING not allowing a credit union to use the term banking to describe the services it offers.<br /><br />Here is an excerpt from the regulator's own web site. Draw your own conclusions about the fact that the division of this department's title is "Vermont Department of Financial Regulation - Banking Division"<br /><br />From their own web site:<br />http://www.dfr.vermont.gov/banking/home<br /><br />"The Vermont Banking Division regulates and examines a variety of entities that include banks, credit unions, lenders, mortgage brokers, sales finance companies, debt adjusters, and money servicers. The Division also provides consumer assistance, education, and outreach to protect consumers from financial fraud."<br /><br />Notice that the Banking Division includes banks, credit unions, and other financial services. Then sit back, chuckle, and enjoy the irony.<br /><br />~Morriss M. Partee<br />CEO, EverythingCU.comMorriss Parteehttp://blog.everythingcu.comnoreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-50505464222984918322012-07-24T10:19:35.537-04:002012-07-24T10:19:35.537-04:00Going to a federal charter would limit its field o...Going to a federal charter would limit its field of membership. It currently has both a multiple SEG and a community charter that includes anyone who lives or works in Vermont. <br /><br />As I said, a hybrid charter is not permissible. It cannot do the state of Vermont as a community. <br /><br />Anyway you dice it, its FOM would be more limited at the federal level.Keith Leggetthttps://www.blogger.com/profile/14794334790117033547noreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-31025200350473818592012-07-24T10:15:20.654-04:002012-07-24T10:15:20.654-04:00A federal charter would likely widen their field o...A federal charter would likely widen their field of membership to the entire 'community' vs SEG membership. Federal chartered example --- membership is open to an entity or person who lives, works, worships, or attends school in the #xx chartered counties.Anonymousnoreply@blogger.com