Alternative Capital


NCUA continues to require healthy credit unions to absorb the losses of the weaker. For many, this interdependence is both conflicted and unfair. Moreover, the impact redefines a credit union; inconsistent with the constitution of a cooperative. Nowhere in the cooperative world (mutual savings banks included) can the member owned capital of one cooperative be siphoned off for use by another cooperative without an affirmative membership vote; agriculture cooperatives, consumer cooperatives, housing cooperatives, wholesale buying cooperatives, and utility cooperatives included.