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I think one person just may be on to something.
Last week, Credit Union Journal made a reporting error in an item on cujournal.com, initially stating that Missouri Corporate was merging with Treasure State Corporate CU. In fact, it was Kansas Corporate CU that announced plans to pursue a merger with Treasure State.
We were already in the process of moving to correct the item when I received an e-mail from Dennis DeGroodt, president of Missouri Corporate. In a gracious note, DeGroodt sought to alert us to the error. He also threw in a little addition, noting that, "Just because Missouri has a better football team than Kansas, it shouldn't sway your reporting."
And that got me to thinking: What if NCUA had used college football rankings to decide which corporates survived and which didn't. Would the CU community have been better off?
As has been well-documented, NCUA had examiners on site at several of the biggest corporate failures, so apparently that system wasn't exactly foolproof. What if it had saved the money and just used the college football polls to drive its decision-making?
U.S. Central in Overland Park, Kan., likely would have been shuttered early on. The Kansas Jayhawks were 2-1 at press time with a pair of wins over the early-season cupcakes that collect checks in the opening part of most Division I programs' seasons,...