Wednesday, September 28, 2011

Credit Unions and ALEC

Everywhere you look and on almost every radio station you hear financial people pushing you to join a credit union.  Everyone is saying it's a better option to the traidional banks.

I know a lot of the banks belong to the American Legislative Exchange Council - but this particualr Corporate Sector member really bothers me - and has bothered me for quite some time.

The Credit Union National Association (CUNA) based in Washington, D.C., and Madison, Wisconsin, is the premier national trade association serving America’s credit unions. The trade group is governed by volunteer directors who are elected by their credit union peers. CUNA provides many services to credit unions, including representation, public relations, continuing professional education, and business development.

The American Legislative Exchange Council (ALEC) met the week of Aug. 1 in New Orleans. CUNA's State Government Affairs staff met state legislators from across the country, discussing credit union issues.

"ALEC created a new financial services subcommittee and CUNA attended the first meeting," Pat Sowick, CUNA vice president of league relations, told News Now. "It's important to have a credit union presence in these forums where financial services issues are discussed. A highlight this year at ALEC was the attendance by more than 600 state legislators--many of whom were freshman members."

What else bothers me is what I found on their webpage
              Credit Union National Association
              (CUNA), the premier national trade association serving credit unions.
              Ninety percent of America’s credit unions are affiliated with CUNA.

And the fact that CUNA has a "directors only" webpage for their "legislative actions" that you and I can't see, bothers me - too ALEC-esque.

I thought credit unions were suppose to be concerned about their members. 
I thought MY credit union was concerned about me.

Is this another scam by ALEC - pushing us toward credit unions - just like their "model legislation" and tax credit legislation pushed us toward IRA's and 401k's to prop up their banking and investment members in the past?

If so - why? 
But I guess that question has been answered multiple times over the course of ALEC's history - to spread the wealth to the Private Enterprise members and screw the general public.

I REALLY don't like this one!
Everywhere I turn - ALEC shows up.

1 comment:

  1. Perhaps we should start pushing for state banks. Like the one in N. Dakota.

    And if we get money out of politics by outlawing campaign contributions and closing the revolving door, ALEC will have no power.

    And if we bring back the regulations we once had on Wall St, the banks won't be so evil.

    And if we get a consumer protection agency, that will help protect us from bad banking practices.