Credit Unions

The recent decision by the Supreme Court relating to credit union membership is welcome and long overdue (Feb. 26). The ability of a large credit union banking corporation to exploit the advantages of credit union designation and serve the same overall field that is the general public negates the original intent of credit unions.

However, it is highly important to protect many small credit unions whose in-field membership was insufficient for survival, and who then joined with others with the same problem, creating a viable entity that effectively serves the combined membership. The banking industry’s intent is to destroy all credit unions and any form of competition. Any corrective legislation should eliminate only those credit unions that are catering to the general public and ignoring the field of membership.

DON R. BEAVER

Monarch Beach