Credit Union Its Position in the Consumer Financial Marketplace

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The author, CFO of a major federal credit union, proposes a fee philosophy for credit unions compatible with the spirit of cooperation underlying the movement. Because of the failure to apply costs fairly results in one class of members subsidizing another, he details specific instances in which costs should be identified & fees applied to the members incurring the costs. He further proposes that credit unions, to survive, must position themselves as the transaction account provider to the average financial consumer, operating in conjunction with it. He makes concrete proposals for resolving specific problems such as the dichotomy between the Board & operating officers & the elusive definition of common bond. In the foreword, CONGRESSMAN PHILIP CRANE points out that attention directed at the magnitude of the savings & loan failure ignores the realities that Congress was facing in the early eighties. He points out that Congress was passing legislation which was designed to ameliorate the inevitable & more severe collapse of an industry that could no longer compete with the more efficient secondary mortgage market that had come to dominate the financial scene after World War II. To order FAX CU 1-703-971-1628.