In mid-December I marked this article from Chip Filson about the legacy assets remaining from the corporate credit union takeovers in 2010 as something I would check again in March (here we are). The new year is underway. We whimpered at the OTR and the NCUA’s budget indifference to our industry’s consolidation. We marched on to GAC and left with a general acceptance to our fate. And now we are home and back to our day-to-day endeavors.
I keep wondering how this windfall will come back to the system, how this money will be invested, and how this money will give our industry some sense of wrongs balanced. Some sense that the NCUA’s actions were right or wrong. Or more importantly, a sense of confidence that the next time we face these kinds of issues we have history on our side for better outcomes.
Some of the most vested individuals and organizations in this issue will not be around to discuss the windfall or see its return to the industry. Some of the organizations that could gain the most from the sense of even a modest win here will be dismissed as lost causes, and some of the organizations that can afford to let the system accept the fact that the NCUA will simply find a way to claim victory and the money will simply move on to other things.
One day I hope I see our industry championed by leaders and organizations that can outlast those that govern us on topics like this. The day where our anger, indignation, and resolve to ensure that we diligently claim what is ours does not fade as time favors those who write history instead of those assigned to secure the future for our members and our communities.
Tell me why I’m wrong!
P.S. What will our system do when Chip Filson no longer stokes these fires and reminds us that we should stay engaged? Thank you, Chip!