Show me the money honey?
Winnie the Pooh had an insatiable appetite for "hunny", some people have the same problem with money! Where I live folks are often willing to stick up a convenience store for $50 bucks!
What would happen if you had $6 billion bucks lying around in North Carolina with nobody's name on it? Would the flies find the honey? You betcha!
We've stopped to take a look at a growing nationwide threat to credit unions and their members - that means you! The threat is the misappropriation of a credit union's "member equity" (also sometimes called reserves, capital or net worth) via mergers, insider trading and payouts, bank purchases, and charter conversions [link]. The flies are circling, folks!
Using SECU as an example in MisApp #2 [Pot of Gold - link], we figured out as an SECU member that your "share of the pot" was at least $2,000, family of four - $8,000+! That would be sweet, right? That @$2,000 individual member-ownership amount is about the average for every credit union in the U.S. - including your credit union!
So are you interested in hearing about what's going on, or do you prefer to just let someone else grab it?
Could never happen in North Carolina? Wanna bet... say $6 billion bucks?
Your choice, your money!
$6 billion bucks is a lot of convenience stores!
