<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40"><head><META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=us-ascii"><meta name=Generator content="Microsoft Word 12 (filtered medium)"><style><!--
/* Font Definitions */
@font-face
{font-family:"Cambria Math";
panose-1:2 4 5 3 5 4 6 3 2 4;}
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin-top:0in;
margin-right:0in;
margin-bottom:10.0pt;
margin-left:0in;
line-height:115%;
font-size:11.0pt;
font-family:"Calibri","sans-serif";}
h3
{mso-style-priority:9;
mso-style-link:"Heading 3 Char";
mso-margin-top-alt:auto;
margin-right:0in;
mso-margin-bottom-alt:auto;
margin-left:0in;
font-size:13.5pt;
font-family:"Times New Roman","serif";}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:purple;
text-decoration:underline;}
span.EmailStyle17
{mso-style-type:personal-compose;
font-family:"Calibri","sans-serif";
color:windowtext;}
span.Heading3Char
{mso-style-name:"Heading 3 Char";
mso-style-priority:9;
mso-style-link:"Heading 3";
font-family:"Times New Roman","serif";
font-weight:bold;}
.MsoChpDefault
{mso-style-type:export-only;}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><h3><span style='font-size:14.0pt;font-family:"Calibri","sans-serif";font-weight:normal'>My husband and I have been members of the Latah Federal Credit Union for over thirty years. We have enjoyed the service they have provided and are pleased to support a local business. The current management of the LFCU have decided to drop their affiliation with the <a href="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwj1lr-22-bMAhWi8YMKHfxrBtwQFggdMAA&url=https%3A%2F%2Fwww.fdic.gov%2F&usg=AFQjCNFKDaJ2ZfSo8TrIjQ0jST7Xtw3q5Q&sig2=hADrTwqjW07utB1crSnHCw">FDIC: Federal Deposit Insurance Corporation</a>, in favor of a private insurance company. This is a huge step proposed by management and apparently rubber stamped by board members who are either easily herded into compliance by the CEO Lowell Stevens, or, are arguably, unable to assess the risk or even read and understand the following notice.<o:p></o:p></span></h3><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:14.0pt'><a href="join%20a%20private%20insurance%20company%20without%20federal%20oversight">“ If you are a member of this credit union, your accounts are currently insured by the National credit union Administration, a federal agency. This federal insurance is backed by the full faith and credit of the United States government. If the credit union converts to private insurance with American share insurance and The credit union fails, the federal Government does not guarantee that you will get your money back.”</a><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:14.0pt'>When this type of events occurs, the first thought in my mind is who stands to profit from the change - in this instance surely not the customers.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:14.0pt'>We stopped by the LFCU this morning to vote NO for this drastic and unnecessary change and learned that although we have a checking and savings account within a family trust account we were not eligible to vote because trust account holders don’t have voting privileges. Further, we were told that if even if we had a joint, stand alone checking or savings account only one of us could vote although though both us would enjoy account privileges.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:14.0pt'><a href="https://www.latahfcu.org/">There is a meeting this evening</a>, check the Credit Union’s home page for time and place, to discuss this issue and answers questions. I fear that regardless of the voting outcome (the votes are being tallied by an unnamed organization, perhaps even the insurance company who stands to gain the credit union business). I believe the outcome has been determined. This morning a staff member of the credit union told us “they” wanted state jurisdiction instead of a “federal bureaucracy.” At that point we realized that a political agenda with, arguably, personal reasons for these changes had overridden common sense and sound fiscal policies. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:14.0pt'>Thankfully, there is <a href="https://www.p1fcu.org/">another credit union</a> in town which retains Federal Insurance and appears to us to be a far safer alternative than a private for profit insurance company. If you are a member of the LCFCU keep an eye out for increased rates as soon as it is privatized and pray without all your might that if the private insurance company fails you won’t lose your life savings.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:14.0pt'>Rose Huskey<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:14.0pt'><o:p> </o:p></span></p><h3><span style='font-size:14.0pt;font-family:"Calibri","sans-serif";font-weight:normal'><o:p> </o:p></span></h3><p class=MsoNormal><span style='font-size:14.0pt;line-height:115%'><o:p> </o:p></span></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>