Wednesday, December 24, 2025

Credit Unions: Now That's The Spirit!

 ... A Wonderful Gift!

🎁🎁🎁 All credit union members in America have just received a wonderful gift for the holiday season!!

 

  -  "Members of Spirit Financial CU Reject Merger Into Credit Union 1" [link] 

 

😎 "It's A Wonderful Life!" [link] : "Remember, every time a bell rings, an angel gets his wings"  Ring the bell, 'tis the Season!


 Ho, Ho, Ho...  Merry Christmas!!!! 

 

 

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11 comments:

  1. AnonymousDecember 24, 2025 at 9:44 AM

    keep the credit union can the board

    ReplyDelete
  2. AnonymousDecember 24, 2025 at 11:13 AM

    How come they didn't vote to require the acquiring credit union to pay out all their capital? Is it perhaps because it doesn't work that way?

    That said, Board and CEO gave up. Now they should dissolve and distribute their capital. CU's like this will have no place in the industry within a few years.

    ReplyDelete
    Replies
    1. jim blaineDecember 24, 2025 at 1:29 PM

      11:15 Well there's an interesting idea! In the future in all mergers, require including the option to dissovle and distribute the capital to the owners.

      Delete
  3. AnonymousDecember 24, 2025 at 11:16 AM

    If we’re testing your stupid capital theory - - Spirit members just voted to keep their capital trapped. Makes sense.

    ReplyDelete
    Replies
    1. jim blaineDecember 24, 2025 at 1:37 PM

      11:16 am Alert!!! This is one of those Grinch-trolls!

      Believe you got that half-right and half baked.

      Correctly stated: "Spirit members just voted to keep their capital."

      ... and yes, agree that: "Makes sense."



      Delete
    2. AnonymousDecember 24, 2025 at 1:47 PM

      And they’ll never see a dime of it if and until they give up and dissolve, which is inevitable for a member base that can’t see the CU lacks future viability.

      Delete
    3. AnonymousDecember 24, 2025 at 6:49 PM

      well they saved 4 mil from the clutches of a CEO who "cares" more about the members over his personel interest in the merger ...
      "Had the merger been approved it would have meant a more than $4-million payout to its CEO"

      Delete
  4. AnonymousDecember 24, 2025 at 11:31 AM

    Thanks for fighting for us members!
    Merry Christmas!!!

    watched that movie yesterday ... :)

    ReplyDelete
  5. jim blaineDecember 24, 2025 at 4:21 PM

    https://chipfilson.com/2025/12/christmas-eve-2025/

    ReplyDelete
    Replies
    1. AnonymousDecember 24, 2025 at 6:43 PM

      His Eye Is On The Sparrow ... and the CU ... ;)

      Delete
  6. AnonymousDecember 26, 2025 at 11:16 AM

    Maybe it would be good for the Regulator to impose a penalty on excess accumulation of earnings like the IRS does C Corps? I believe that the IRS has a 20% penalty called AET on unjustified accumulations in excess of $250,000. If Boards had to justify or return to members, we could end this discussion and move on? B

    ReplyDelete

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