If the net worth cannot be preserved as a credit union and management believes the organization is truly member/owned, another option, supported by cooperative principles, is simply to return the net worth to members and stop further erosion. Whether a management led buy-out or an outright sale of the assets and liabilities to a bank or a credit union, the windfall capital distribution to members is sure to be more popular than watching the net worth disappear.
In conclusion, a bright future is ahead for those with the courage to act on the knowledge that this recession will change some things forever, as all major recessions do. Gaining the knowledge will involve acquiring a deeper understanding of the capital markets and the bank charter. Acting will involve renouncing the status quo.