Getting on the right Side of the Durbin Amendment


By W.B. King

Ronald Regan served as the 66th United States Secretary of the Treasury from 1981 to 1985, an equally troubled economic time for the nation. Later he would serve as President Ronald Reagan’s Chief of Staff. So it’s safe to say he had been around the block a few times. When asked about loyalty, he responded, “You’ve got to give loyalty down, if you want loyalty up.”

Regan’s quote is appropriate and can be applied to just about any business success story from the late Steve Jobs to Wendy’s founder, Dave Thomas. Credit unions are not in the “apple” or burger business but rather in the financial industry business, and no other subset better defines loyalty. After all, banks have customers and credit unions have members.

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