Quantcast
Opinions

Should CUs Trust Their Corporates?

Should natural person credit unions continue to support corporate credit unions? A better question may be: can credit unions trust corporate credit unions to operate in their best interest? If the answer is yes, than I believe credit unions should support corporate credit unions. All cooperative organizations, not just corporate credit unions, should constantly ask this question - are they trustworthy?

Corporate credit unions have a lot of trust that will need to be rebuilt. If you can't trust your corporate management team or board - fire them! But, I don't think we should be too quick to give up on the cooperative corporate structure. I think it has a lot of value, just like the natural person credit union structure has a lot of value.

If we look for the beauty in the cooperative structure for both corporate and natural person credit unions, I don't think we will be quick to walk away from either.

Sam Whitehurst, CEO
Summit CU, Greensboro, N.C.

LETTERS TO THE EDITOR
Credit Union Journal encourages reader feedback. Letters to the Editor can be sent to Managing Editor Lisa Freeman at lfreeman@cujournal.com. Letters can also be faxed to 561-832-2939.

SEE MORE IN