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December 17, 2009
Dear Member:
As you know, the NCUA has released for comment its proposed revisions to the regulations pertaining to corporate credit unions. Totaling 253 pages, these new rules (if adopted) would have far-reaching impact on corporates in such areas as capital, investment activities and governance to name just a few. |
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Members United will hold a series of town hall meetings beginning in January 2010– please see the schedule for times and locations. In addition to a discussion of the key provisions of the new rules and how they would affect us (and in turn you), these meetings will allow us to have a candid dialog with you about our future plans for your corporate. John Fenton (Members United’s board chair) and I will present our thoughts and hear your views first hand.
We believe that Members United holds a unique franchise, adds significant value, and plays a vital role in the success of its members. It is time to begin together to rebuild your corporate credit union. Be assured that we will work tirelessly to repay, whenever and in whatever form possible, what has been lost. But we cannot do so without the support and input of our members. And that begins with these town hall meetings.
Each meeting is slated for two hours, and will start promptly at the scheduled time. Select the meeting that is most convenient for you without regard to geographic location. Light refreshments appropriate to the time of day will be served prior to each meeting. So that we may plan seating and food, we request you register your credit union and the number of attendees for the meeting of your choice by visiting www.membersunited.org/registertownhall.htm.
We appreciate how frustrating these times have been and your continuing support as we work through them. I look forward to seeing you at the town hall meeting of your choice.
Sincerely,
Joseph P. Herbst
Chief Executive Officer
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