The NCUA is now defining a small credit union as being under $100 million!
As a $24-million dollar credit union this causes me real concern, while some may be celebrating. Credit unions under $50 million have been dropping like flies and I fear that raising this definition will make us little guys even more obscure and vulnerable. There is a huge difference between a $90-million credit union and a $15-million credit union. Treating them the same actually hurts the $15-million credit union and helps the $90-million credit union.
Why do I feel truly small credit unions are being overlooked by our regulators and trade associations?
Thomas C. Pinnow, President
County City Credit Union, Jefferson WI 53549