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CU System
CU CEOs letter notes CUs difference in credit climate
PORTSMOUTH, Va. (12/12/08)--A credit union CEO’s letter to the editor at a Virginia newspaper points out a difference between credit unions and banks at a time of credit crisis. The letter, from Chris Anuswith, president/CEO of $35.8 million asset Guardian FCU in Portsmouth, Va., was published Thursday in the Virginian Pilot. In it, Anuswith points out an “interesting juxtaposition” of articles on the front page of the newspaper’s Dec. 6 business section. On article discussed credit unions stepping up to make consumer loans when other financial institutions won’t, he said. Next to it, a second article reported about two local banks in line for infusion funds from the Treasury. “On a daily basis we hear the drumbeat about the impact of the credit crunch,” Anuswith wrote. “Isn’t it interesting that credit unions continue to lend based entirely on their own resources while the banks apparently aren’t or won’t without government and taxpayer help?” he asked. For the full letter, use the resource link.
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