tag:blogger.com,1999:blog-319775530671726401.post4340942394950321026..comments2023-10-01T09:18:26.162-04:00Comments on Keith Leggett’s Credit Union Watch: Gropaco Members Approve LiquidationKeith Leggetthttp://www.blogger.com/profile/14794334790117033547noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-319775530671726401.post-29152352082694051832013-10-21T10:24:38.073-04:002013-10-21T10:24:38.073-04:00smart members. CU is too small to continue, loans ...smart members. CU is too small to continue, loans can be sold with 2%-4% reserves for losses and members put 12%-15% in pockets along with all their deposit money. why not liquidate.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-37776272498107828692013-10-17T19:57:37.157-04:002013-10-17T19:57:37.157-04:00And keep in mind.
No other credit union wanted it...And keep in mind. <br />No other credit union wanted it. <br />None. <br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-9863239206787863052013-10-17T13:24:12.814-04:002013-10-17T13:24:12.814-04:00'Returned' to members. Who sent what when...'Returned' to members. Who sent what when?<br /><br />If they can get 90cents on the dollar liquidating during a glut of supply and declining demand, even if it has 10% net worth, no excess for owners.<br />If less than 90cents, then we cus all get to really own GFCU when the loss is 'returned' to us from the NCUSIF.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-44474677411811564502013-10-17T13:10:10.593-04:002013-10-17T13:10:10.593-04:00They get to own it but only at the end when it fai...They get to own it but only at the end when it fails to continue. Not what they needed.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-20023139817875068502013-10-17T12:09:41.609-04:002013-10-17T12:09:41.609-04:00And if there are excess funds remaining (aka capit...And if there are excess funds remaining (aka capital), they most likely will be returned to the members. Wow, what a concept!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-16834449048350723282013-10-17T11:34:15.322-04:002013-10-17T11:34:15.322-04:00Wait, the members had to approve the liquidation? ...Wait, the members had to approve the liquidation? But I thought the members didn't really own their credit union. I'm so confused....Anonymousnoreply@blogger.com