Does this sound familiar?

Here is a quote from the chairman of a 3 million 320 member credit union facing a merger/buyout.

"The credit union Chairman  said the credit union faces challenges typical of its asset size: retaining management and compliance.

“We can’t produce enough income to hire decent help,” he said. “Every time we get a good manager trained, they move on to bigger and better things.”

Compliance also killed the 292-member credit union, he said.

“These days, it takes more manpower because there are so many new regulations.  Just trying to stay compliant is monumental for a little credit union like ours,” he said."

Does this sound familiar?

NCOFCU's goal is to each out to our fellow firefighters credit unions who may find themselves in this same situation. To encourage them to participate in a peer to peer organization of firefighters and CEO's managing their credit unions.

If you know of anyone or find yourself in this situation please contact Grant Sheehan CEO NCOFCU, 305-951-3306, grant@ncofcu.org  or visit our website at www.ncofcu.org and sign up so that a wealth of information and assistance will be available to you.