Chip Filson Blog
Blog
Cooperative design is unique. It provides singular focus on the member value. It’s that member relationship that is the foundation of credit union sustainability. And enhancing member participation in credit unions is vital to maintaining a distinct cooperative choice for consumers.
This blog shares my passion and observations about cooperatives’ roles for consumers in the American economy. I highlight the responsibility of all participants in the credit union system to enhance the ever-expanding legacy of our common wealth paid forward for future generations.
Now, as just a member, these comments are fueled by the gratitude, compassion, and vigor of all the compatriots who have journeyed with me over the past four decades. Source
Actions
Media Outlet details
| Scope | Trade/B2B |
|---|---|
| Language | English |
| Country | United States of America |
Similarweb UVM
|
Request pricing |
Comscore UVM
|
Request pricing |
Recent Articles
Search ArticlesA Verteran’s Smile on Ukraine’s 35th Independence Day
Joan and I attended yesterday’s flag day services at nearby St. Andrew Ukrainian Orthodox Cathedral. The service and following community luncheon preceded the country’s Independence Day celebration today. A lunch was shared for the entire community. Here is a picture of several persons at our table. The double arm amputee who also has one leg was wounded in 2023. His name is Alexander. He is 46 and joined the Ukrainian military in 2019. His wife to his right has her hand on his knee.
Human Courage -A Potential We All Possess
Courage takes many forms in life. Sometimes it is emergency responders running toward disaster to provide help. Think of the New York fireman who climbed the stairs of the World Trade Center knowing full well the dangers. Emotional courage can be as simple as the ability to say “I’m sorry” when your words hurt another person, often in private. In a public contexts it is someone raising their voice to object. by openly standing against the current powers that be.
Life’s Ritual as we Grow Old Together
If you haven’t yet shared this older generation’s experience, it is a wonderful moment to see.
When Leaders Lack Confidence in their Organization
Note: This reprint of this July 2021 post is to recall as new leadership arrives at NCUA’s bpard to evaluate priorities and course corrections. (cwf) What would you think if you learned that Warren Buffet was shorting Berkshire stock? Or Elon Musk prefers driving a Lexus? Or Jeff Bezos doesn’t want to test fly his Blue Origin Space capsule? None of these situations is true. And because the opposite is the case, observers’ trust in these leaders and their organizations is sustained.
LAW LESS NESS & Free Markets
A longstanding virtue hailed by leaders in both the private and public sectors, is the power of the free market to adjudicate fair outcomes, especially but not exclusively for economic results. It is invoked by those in regulatory positions who are charged with protecting the interests of consumers, shareholders or even employees subject to the power of large organizations. The new NCUA chair has referred to the free market as a mechanism for the evolution of the credit union system.
Large Bills Coming Due for Credit Unions
The headlines scream about the new reality in NCUA’s regulatory failures. NCUA Call Report Reveals Stunning $103 million Loass at Jackson Area FCU (CU Today August 3) The first paragraph says it all: New NCUA Call report data shows Jackson Areas Federal Credit union has deteriorated financially showing the agency discovery of an alleged $95 mill fraud scheme, with the credit union reporting negative net worth of the $88.5 million and a negative net worth ratio of 125.5% as of June 30. . .
A Credit Union’s Obligations to Members with TPS Status
Temporary Protection Status is an option under US immigration law to admit migrants who face life and death threats in their home country. President Trump won a Supreme Court decsion saying he could reverse such status under his executive authority. Trump immediately used the ruling to revoke this legal status for hundred of thousands of Haitian and Syrian families living and working in the US legally. The order went in effect approximately ten days ago.
A Change at the Top of the Movement
There are a half dozen leadership roles in credit unions that have major implications for the entire movement. Among these are the leaders of several trade associations, a significant CUSO or two, TruStage ( formerly CUNA Mutual), a couple of large credit unions who exercised public roles, and of course the NCUA Chairman. The CEO position in any of these 6-10 positions does not confer leadership.
When the Call Comes, Will you Be Ready?
We live in an era of deep public distrust and overt, transparent corruption-by both public and private organizations and their leaders. The public has increasingly learned to accept publicly announced wrong doings and self-dealings. The result is passive acceptance. The logic is these actions can’t really be corrupt because disclosure would result in accountability or at least push back bythose whose duty it is to oversee.
A Credit Union Family Keeping the Faith
Many years ago a young financial executive working in a midwestern S&L wanted to explore opportunities in credit union land. He called Callahans to ask for a copy of our new Credit Union Directory which he bought. Shortly thereafter he began a career, first as a senior officer in an Indiana credit union, then as CEO in Kentucky and finally a longer tenure at a leading Michigan credit union from which he retired. He is a person who always sends you a greeting on your birthday.