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4 posts categorized "Townhall Meeting"

January 29, 2009

Guest Author: Jeffry Pilcher of The Financial Brand

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We've been following stories about credit unions and TARP in the CU Journal (like the one from earlier this week - click here) for what feels like ages. First, credit unions are in; then, they're out. We're up, we're down - it gets confusing. 

One person who's also confused about the role of credit unions in TARP is Jeffry Pilcher, E-I-C of "The Financial Brand", a very popular blog for finance news, branding and everything in between. In addition to being a successful branding and marketing consultant (His company, IconIQ, can be found here), Pilcher spends countless hours pouring over news sources and tracking what's "hot" when it comes to personal finance. 

He decided to share with us his thoughts on CUs and TARP. 
 
Do natural person credit unions need TARP money or not?
Who really knows? One thing that’s for sure is that the credit union industry’s leadership has not offered a consistent explanation about why credit unions should be included in the TARP bailout. The rationale bounces around with each week that passes. 
Here’s a look at the range of reasons -- some contradictory -- being offered by credit union leaders, in what appears to be a shotgun, try-anything-if-it-might-work strategy: 

Continue reading "Guest Author: Jeffry Pilcher of The Financial Brand" »

December 17, 2008

Joe the Plumber is Here to Stay

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by Ron Daly

Joe the Plumber - Photo from Washington Post

I don't suppose I have to tell you who this guy is. 

His name is Joe Wurzelbacher, better known as "Joe the Plumber". He was all the rage in November, calling out then-candidate Barack Obama on his "share and share alike" policy and standing up now-Senator John McCain on the campaign trail. He came back recently to tell the American people about his distaste for McCain's attitudes on the bailout (click here). 

But more important than who he was is what he is now, and what he will be from now on - the voice of the average American. Sure, Wurzelbacher himself isn't so average - most people don't go from being an aspiring plumber to a recording star/author overnight. But the idea of your average guy or lady who just wants to be able to say "I get it. I understand." About government, or taxes, or the economy, or anything. 

It's these folks that have made the difference in the past few months. It was all the "Joes" out there who were hurting when the economy dove out of the sky like a dead bird. Their mortgages went underwater, their retirements were crippled, their jobs were in jeopardy. And they aren't out of the woods yet. 

Continue reading "Joe the Plumber is Here to Stay" »

December 15, 2008

Just a SIP (or - "Folks? The Meeting's Not Over")

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by Ron Daly 

[Editor's Note -- Our popular Townhall Meeting page is still available for you to vent frustrations/ask questions/post links regarding HARP, SIP, CLF or any other CU related bailout topic. To visit the Townhall Meeting page, click the "Townhall Meeting" button here: 

Townhall_button

Or on the left-hand column. Now, back to SIP.]

When TIME magazine was making the case in November for "Person of the Year", I paused when they suggested Ben Bernanke. I read about what might make the case for him to get the nod:

"By studying the lessons of the Great Depression — don't let the banks fail — he might have prevented another one." - from Time.com's POTY candidate evaluator.


I'm not sure I've always been a big fan of Ben Bernanke. Or the Fed in general. But if this is, in fact, the reason Bernanke has done what he has done and has tried to push help toward large investment banks, then I suppose there's some merit to the idea of making him "Person of the Year". Although, frankly, we all know who that'll probably be (Hint: It starts with a "B" and ends with an "arack Obama"). 

So, with that in mind, we turn our eyes to SIP, or the CU System Investment Program. With this,the NCUA corporate credit unions that are racking up billions in unrealized losses (read this CU Journal article) can stem the downturn long enough to make it to a recovery cycle. 

Continue reading "Just a SIP (or - "Folks? The Meeting's Not Over")" »

November 18, 2008

The CUSoapbox Special Report: Townhall Meeting Page on TARP Now Open

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Is there anywhere we can tell CUNA, NAFCU or NCUA that we in the trenches think it's a bad idea and would like see if we can find a solution on our own? --Matt Vance, in response to yesterday's post on TARP


Wish granted, Matt. 

Today is your day. The TARP money is up for grabs as the Treasury tries to make up its mind and the CU industry is trying to get their share. Some think that for a credit union to receive TARP assistance would undermine the values and goals of a credit union and make them no different from the banks that started this crisis in the first place. 

Put your thoughts about CU access to TARP on this page, which we've created to let you, the CU professionals that will be affected by this decision, speak your mind and tell the folks in Washington what matters.