ONTARIO, Calif. (4/6/12)--The April 4 edition of American Banker included a letter to the editor from Diana Dykstra, in which the president/CEO of the California and Nevada Credit Union Leagues admonishes financial institutions to not victimize their members and customers with inaccurate record keeping.
Dykstra praised the Banker for an article which revealed that Bank of America knowingly sold credit card receivables that contained inaccurate information to a collection agency.
"My first instinct as a credit union CEO is to say that more banking institutions need to stop looking at their customers as just numbers on a balance sheet," Dykstra wrote. "At credit unions, one tends to find far less of this activity, because our organizations are so people centric. Indeed, our institutions are owned and operated by our own members. The people who belong to the organization also serve the organization."
The article should serve as a wake-up call to the financial services industry, Dykstra said.
Financial institutions should focus on providing service to their members and customers, she added.
To read Dykstra's letter to the editor, use the link.