Credit Unions rule!
'nam vet.
Credit Unions To The Rescue
by Broderick Perkins
Been down to your friendly neighborhood credit union lately?
You could find that elusive home loan you been unable to get anywhere
else.
Credit unions didn't need a bail out during the Great Depression, they
didn't need federal intervention during the Savings & Loan debacle and
they don't need government assistance now.
In fact, right now, they are rolling out the red carpet for home loan
borrowers.
During the boom, credit unions avoided writing subprime home loans and
other easy-money mortgages. They also shunned selling packages of
mortgages to Wall Street moguls who packaged them into now low- to
no-return securities.
That means credit unions are relatively untainted by the credit squeeze
and they have both money to burn and a sound business foundation that
allows them to keep on lending.
Instead of fearing the next Great Depression, member-owned credit unions
are bracing for what could be their boom time in home loans and other
financial services, now that banks and mortgage lenders are crashing and
burning.
Mortgage production among credit unions is small by comparison to banks
and mortgage lenders, but their originations rose a whopping 10.1
percent during the first half of 2008, according to the industry's
federal regulator, the National Credit Union Administration (NCUA).
and ;
Less than 1% of mortgage holders in Credit Unions are behind in payments.
Google that!
--
When the Power of Love,replaces the Love of Power.
that's Evolution.
BigDog1
Yes they do. I gave up conventional banks in favor of my credit union
over 25 years ago. I get most of their services free, and those I pay
for (safe deposit box, notary service, money orders, etc.) are
cheaper, by as much as half, than any bank.
Anyone can join, and get basic services for reasonable fees. But, in
most cases, things aren't free until you deposit a few thousand
dollars in long term CDs, establish and loan history, and you are
member long enough that it's obvious you're not just using them as a
pass through for your money.
The reason credit unions are still viable in this economy is that they
don't lend money to people who can't afford to pay it back. They
thoroughly verify everything on loan applications, they secure the
collateral with proper liens, and they aggressively pursue those who
default. All of the employees, from entry level tellers, to the CEO
are salaried. They don't get commissions to push services or close
loans.
Rod Speed
> Credit Unions To The Rescue
> by Broderick Perkins
> Been down to your friendly neighborhood credit union lately?
> You could find that elusive home loan you been unable to get anywhere else.
> Credit unions didn't need a bail out during the Great Depression, they
> didn't need federal intervention during the Savings & Loan debacle
Wrong, plenty of them did.
> and they don't need government assistance now.
> In fact, right now, they are rolling out the red carpet for home loan borrowers.
Mindless pig ignorant lie. They've been affected by the credit crunch, just like everyone else.
> During the boom, credit unions avoided writing subprime
> home loans and other easy-money mortgages.
Mindless pig ignorant lie. Plenty of them did.
> They also shunned selling packages of mortgages to Wall Street
> moguls who packaged them into now low- to no-return securities.
That last is another pig ignorant lie.
> That means credit unions are relatively untainted by the credit squeeze
But not unaffected by it.
> and they have both money to burn
Pig ignorant lie.
> and a sound business foundation that allows them to keep on lending.
Pity about the lack of money to lend.
> Instead of fearing the next Great Depression, member-owned credit
> unions are bracing for what could be their boom time in home loans
> and other financial services, now that banks and mortgage lenders are
> crashing and burning.
Just another pathetic little pig ignorant fantasy. They are just as affected
by the massive overhang of defaulted houses, just like everyone else is.
> Mortgage production among credit unions is small by comparison to
> banks and mortgage lenders,
So much for your pig ignorant lies above.
> but their originations rose a whopping 10.1 percent during the first half of 2008,
A fart in the bath given the MUCH smaller volume of mortgages they had been writing.
> according to the industry's federal regulator, the National Credit Union Administration
> (NCUA). and ; Less than 1% of mortgage holders in Credit Unions are behind in payments.
For now...
> Google that!
Pathetic.
'nam vet.
<e6ad74b3-0ff7-465a...@q26g2000prq.googlegroups.com>,
BigDog1 <bigd...@gmail.com> wrote:
Yes, seems like they have prevented Greed from ruling the roost.
We have been members for 15 years of our local Credit Union.
No, I don't 'work" for them.
BigDog1
> In article
> <e6ad74b3-0ff7-465a-b583-343d45332...@q26g2000prq.googlegroups.com>,
Nor do I. But in the interest in full disclosure, I did serve two 3
year terms on my credit union's Board of Directors ('95-'98 and
'03-'06). The board is made up of six unpaid volunteer members. To
be eligible to serve you need to have been a member in good standing
of the credit union for at least five years. Under the by-laws, a
member can't serve consecutive terms, nor more than two in total - so
I'm done. Two new members are elected to the board by a vote of the
members at the annual general meeting
John Weiss
> just like everyone else.
> Pity about the lack of money to lend.
> affected by the massive overhang of defaulted houses, just like everyone
> else is.
> been writing.
> Pathetic.
Yes, you are!
Stray Dog
See below....
On Mon, 5 Jan 2009, Rod Speed wrote:
> Date: Mon, 5 Jan 2009 06:57:24 +1100
> From: Rod Speed <rod.sp...@gmail.com>
> Newsgroups: misc.consumers.frugal-living
> Subject: Re: Credit Unions rule!
In the public interest -- the Rod Speed Sucks FAQ -- I didn't write it.
The "Rod Speed FAQ" read it below or at the URL for yourself.....
- - - - - - - - -
http://newsgroups.derkeiler.com/Archive/Alt/alt.internet.wireless/2006-07/ms
g00462.html
- - - - - - - - - -
After its recent emergence in the thread "How to calculate increase
of home wireless router range?", readers of this group may find
this useful. [based on a post in comp.sys.ibm.pc.hardware.storage]
Who or What is Rod Speed?
Rod Speed is an entirely modern phenomenon. Essentially, Rod
Speed is an insecure and worthless individual who has discovered
he can enhance his own self-esteem in his own eyes by playing "the
big, hard man" on the InterNet.
Rod is believed to be from Australia.
Rod certainly posts a lot. Why is that?
It relates back to the point about boosting his own self esteem by
what amounts to effectively having a wank in public. Rod's
personality, as exemplified by his posts, means he is practically
unemployable which means he sits around at home all day festering
away and getting worse and worse. This means he posts more and
more try and boost the old failing self esteem. Being unemployed
also means he as a lot of time on his hands to post in he first
place.
But maybe Rod really is a very clever and knowledgable person?
Clever? His posts wouldn't support that theory. As far as being
knowledgable, well, Rod has posted to various aus newsgroups
including invest, comms, and politics. He has posted to all as a
self professed "expert" and flames any and all who disagree with
him. Logically, here's no way any single individual could be
more than a jack of all trades across such a wide spread of
subject matter.
But maybe Rod really is an expert in some areas?
Possibly. However, his "bedside manner" prevents him from being
taken seriously by most normal people. Also, he has damaged his
credibility in areas where he might know what he's on about by
shooting his self in the foot in areas where he does not. For
example, in the case of subject matter such as politics, even a
view held by Albert Einstein cannot be little more than an
opinion and to vociferously denigrate an opposing opinion is
simply small mindedness and bigotry, the kind of which Einstein
himself fought against his whole life.
What is Rod Speed's main modus operandi?
Simple! He shoots off a half brained opinion in response to any
other post and touts that opinion as fact. When challenged, he
responds with vociferous and rabid denigration. He has an
instantly recognisable set of schoolboy put downs limited pretty
much to the following: "Pathetic, Puerile, Little Boy, try
harder, trivial, more lies, gutless wonder, wanker, etc etc".
The fact that Rod has been unable to come up with any new insults
says a lot about his outlook and intelligence.
But why do so many people respond to Rod in turn?
It has to do with effrontery and a lack of logic. Most people
who post have some basis of reason for what they write and when
Rod retorts with his usual denigration and derision they respond
emotionally rather than logically. It's like a teacher in a
class room who has a misbehaving pupil. The teacher challenges
the pupil to explain himself and the student responds with "***
off, Big Nose!" Even thought the teacher has a fairly normal
proboscis, he gets a dent in his self-esteem and might resort to
an emotional repsonse like "yeah? well your *** wouldn't fill a
pop rivet, punk", which merely invites some oneupmanship from the
naughty pupil. Of course, the teacher should not have justified
the initial comment with a response, especially in front of the
class. The correct response was "please report to the
headmaster's office right NOW!"
What is a "RodBot"?
Some respondents in aus.invest built a "virtual Rod" which was
indiscernable from the "real" Rod. Net users could enter an
opinion or even a fact and the RoDBot would tell them they were
pathetic lying schoolboys who should be able to do better or some
equally pithy Rod Speedism.
Are you saying that Rod Speed is a Troll?
You got it!
What is the best way to handle Rod Speed?
KillFile!
.
Stray Dog
On Sun, 4 Jan 2009, John Weiss wrote:
> Date: Sun, 4 Jan 2009 22:11:41 -0000
> From: John Weiss <jrw...@invalid.invalid>
> Reply-To: John Weiss <jrweissatatt...@invalid.invalid>
> Newsgroups: misc.consumers.frugal-living
> Subject: Re: Credit Unions rule!
>
John Weiss, you are too kind.
Rod Speed uses those same sentences in most of his posts as responses to
almost anything.
FYI, FWIW... here is the Rod Speed FAQ (I didn't write it).
Rod Speed
delusions about being a dog, desperately cowering behind
Stray Dog desperately attempted to bullshit and lie its way out
of its predicament and fooled absolutely no one at all, as always.
No surprise that it got the bums rush, right out the door, onto its lard arse.
No surprise that its so pathetically bitter and twisted about it.
Rod Speed
'nam vet.
<georgewkspam-0E49...@sn-ip.vsrv-sjc.supernews.net>,
"'nam vet." <george...@humboldt1.com> wrote:
ok