Bravo to Corporate America CU in suing U.S. Central. Finally, some natural person credit unions will be represented by their Corporate credit union in prosecuting these corporate pseudo-intellectuals. It is about time to hold these Corporate clowns accountable and responsible. Both U.S. Central and WesCorp have engaged in misrepresentation and omission of material information. They have breached their fiduciary duty to those they were elected to represent. These two corporates have engaged in economic terrorism of natural person credit unions. For proof just look at our collective balance sheet and income statement. Capital wipe out. PIC wipeout. Huge, on-going annual, NCUA assessments to stabilize the corporates.
Corporate America CU is taking charge of its fiduciary duty and responsibility on behalf of its membership. A Corporate CU with testosterone. Where are the other corporate credit unions? Damned by their silence. Shame on them. Shame on us for continuing to support them.
Stuart Perlitsh, CEO
Glendale Area Schools FCU
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