Credit unions pass on low costs to customers

I found Russ Lynch's Jan. 13 article, "Turf war: Credit unions take on the banks," somewhat amusing. Banks are forever complaining that credit unions are invading their "turf," even when they are making record earnings. Credit unions operate legally, under strict rules and rights granted to them by the U.S. Congress, and state and local governments. So the banks' complaints about unfair credit union practices are just a lot of noise and smokescreen to protect their profits.

Many will agree that credit unions do offer a more reasonable approach to savings and borrowing. Credit union members generally earn more interest and it costs them less to borrow. The reasons why credit unions can outdo banks are that credit unions are member-owned cooperatives and directed by unpaid volunteer members. Banks are public companies owned by their shareholders and often run by highly paid directors and executives. To remain viable, banks must make and pay ever-increasing profits and dividends to their shareholders. Since credit unions' expenses are often lower than banks' they can give better deals.

Many are still feeling the aftermath of Sept. 11. People have lost jobs or realized a large drop in their incomes. Business bankruptcies are beginning to rise again. I shudder to think what would happen if credit unions did not exist. The banks would have little restraint. Fees and the cost of borrowing would rise inexorably. That is why Hawaii needs credit unions.

Wyman Au
Volunteer Director
Honolulu Federal Employees Credit Union

[Quotables] "My gut feeling: I think this is bad." Lorraine Inouye Big Island senator, on the feeding of sharks in state waters. Inouye is introducing a bill to prohibit feeding sharks as a commercial activity. Her proposal is in response to the state Department of Land and Natural Resources' plan to ban feeding sharks in state waters, which she felt didn't go far enough. "Actually, I am sorry that we did not kill him." Ariel Sharon Israeli prime minister, quoted in Ma'ariv, a major Israeli newspaper, as saying that he wished Israeli forces had killed Palestinian leader Yasser Arafat during the Israeli siege of Beirut in 1982.

Slower traffic makes commute almost nice

Thank you, John Flanagan, for your "Talk Story" column regarding the traffic cameras (Star-Bulletin, Jan. 29). I drive from Kaneohe over the H3 every day to my job at Leeward Community College. I have been tailgated by behemoth trucks driven by tiny people who can barely see over the steering wheel, had a car pass me on my left when I was in the left lane and numerous other scary incidents.

Then I merge onto the H1 going Ewa, and more speed demons come out of the woodwork. City and County trucks roar by at speeds far exceeding the limit; dump trucks that couldn't possibly stop race past, carrying huge loads; the teenage speedsters zoom by, racing each other; and I cautiously work my way over to the Pearl City/LCC exit. Driving through Pearl City, I meet more SUVs going too fast, and finally arrive at work.

Since the traffic cameras arrived on the scene, the drive has changed dramatically. The daily commute has become almost pleasant.

I figure we are spied upon in more ways than we can imagine. The traffic cameras are one form of spying that actually seems to produce results. I say leave the cameras and add more, to cover all the areas of Oahu.

Leslie Allen
Development Officer
Leeward Community College

Use Hawaii's natural gifts to attract tourists

I have lived in both New Orleans and Washington state, where gambling is legal. The problem with gambling is the type of person it attracts: generally, those with skewed values toward money. Either they have little regard for it and are willing to throw it away, or they are desperately seeking a fix for their financial woes, much like people addicted to drugs. The person who abuses his excess money doesn't impress me any more than the desperate one who can't manage his finances.

Why don't we see what else Hawaii has to offer? Its riches are being overlooked. The azure blue waters on the island make it ideal for health spas. Existing hotels that complain of empty rooms could be converted into spas. Creating a paradise in which people can heal their bodies and souls and escape from cities is what Hawaii is all about.

Let's expand our vision. Wouldn't it be best to give something beneficial in return to those who come here and spend, rather than just taking their money? Let's remain the unique, sparkling gem that we are and maintain that clarity in our future and in the image that we hold up to the world.

Lorna Marvinny

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