Wild Blue Yonder Getting Wilder To Serve As Airline Industry Struggles

Credit Union Journal, The, April, 2008 by Lisa Freeman, Managing Editor

The proposed merger of Northwest Airlines and Delta and the multiple bankruptcy filings by four smaller airlines have shaken things up–but not shaken the faith–among credit unions serving the tumultuous airline industry.

“It is a big issue for all of us,” said Tom Glatt, CEO of Continental FCU, which serves both Continental Airlines and US Airways. “There are five of us with TIP charters, and without a strong, primary sponsor group, the TIP charter is pretty tough. What makes it golden to us is the relationship we have with our sponsors.”

For those credit unions faced with the loss of the sponsor or a significant change in the relationship with that sponsor, it means it could be time for some serious soul searching.

“In our strategic planning, we ask the...

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