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View Diary: Open thread for night owls: When Forbes is indistinguishable from parody (139 comments)

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  •  Anyone paying attention to Credit Unions? (8+ / 0-)

    I haven't seen it diaried.

    http://www.creditunionsonline.com/...

    They are in danger of losing their non profit status.

    Tracy B Ann - technically that is my signature. If I had Bill Gates money, I'd buy Detroit.

    by ZenTrainer on Wed Sep 18, 2013 at 08:53:19 PM PDT

    •  They ran that one thru Utah a few yrs ago (4+ / 0-)
      Recommended by:
      viral, JeffW, Aunt Pat, ZenTrainer

      there was enough serious push back to make the Rs drop it. They haven't returned to it that I know of, but I'm sure the banks are still pushing for it.

      And daddy won't you take me back to Muhlenberg County Down by the Green River where Paradise lay. Well, I'm sorry my son, but you're too late in asking Mister Peabody's coal train has hauled it away. John Prine

      by high uintas on Wed Sep 18, 2013 at 09:24:52 PM PDT

      [ Parent ]

    •  Technically and professionally I shouldn't comment (1+ / 0-)
      Recommended by:
      high uintas

      But I will.

      There comes a point (say, a $50 Billion plus credit union) when it becomes necessary to reconsider non-profit status.  Or the CU board should make a decision to reincorporate as a full banking institution, for a lot of sound financial reasons that benefit both members and investors and the communities the CU services.

      I can think of more than one that meets this financial definition.

      UID: 14791 Join Date: 7/7/2004 Status: Lifetime member Mojo: nearly infinite Any questions?

      by Richard Cranium on Wed Sep 18, 2013 at 09:31:54 PM PDT

      [ Parent ]

      •  I have no idea if what you are saying (0+ / 0-)

        is right or wrong but I suspect it's correct. Our CU was once a small locally based institution, it's been bought up by a much bigger CU and I can't for the life of me see the difference between it and a bank.

        I don't like it much, I can't say that they have treated us poorly or inconvenienced us but I really don't like the vibe now.

        And daddy won't you take me back to Muhlenberg County Down by the Green River where Paradise lay. Well, I'm sorry my son, but you're too late in asking Mister Peabody's coal train has hauled it away. John Prine

        by high uintas on Wed Sep 18, 2013 at 09:48:22 PM PDT

        [ Parent ]

      •  $50 billion in assets? (2+ / 0-)
        Recommended by:
        PsychoSavannah, ZenTrainer

        or some other measure? According to this only one credit union exceeds $50 billion in assets.

        Gondwana has always been at war with Laurasia.

        by AaronInSanDiego on Wed Sep 18, 2013 at 11:11:40 PM PDT

        [ Parent ]

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