Vol. 16, No. 2                                                                                         March 31, 2000

(SPECIAL PSC ELECTION ISSUE NO. 4)

WHAT'S GOING ON BETWEEN THE PSC
AND
THE PSC CUNY FEDERAL CREDIT UNION?

      At the last Delegate Assembly meeting, questions were raised and answers were sought about the problems in the Credit Union. The response from V.P. Richard Boris and Treasurer JoAnn Graham was evasive, "Cannot be discussed because it's in the hands of the lawyers." We disagree. We believe that as members of the PSC and those who have trusted and invested their hard earned money in the Credit Union, we have a right to know at least the following and even more:

     * Is the problem about the pension funds of the Credit Union employees and the PSU employees of the PSC?

      * Is this about the PSC requiring the Credit Union employees to contribute to the pension fund based upon the date of their appointment rather than the date they joined the PSU pension system?

      * How would this affect dividends vs interests on loans for our members of the Credit Union?

      * What advice did the PSC and the Credit Union officers receive from their attorneys?

      * Should one wonder what recommendations have been made by the Federal Examiners in their finalized Annual Report just concluded two weeks ago?

      * Has V.P. Boris acted expeditiously on rectifying the problems or he is sitting on them until the election is over?

PROFESSOR BORIS, PLEASE EXPLAIN TO US NOW WHAT THE PROBLEMS ARE WITH THE CREDIT UNION. MEMBERS HAVE WORKED TOO HARD FOR THEIR MONEY AND THEY NEED TO KNOW WHAT'S HAPPENING BEFORE THEY VOTE IN THIS ELECTION.

Editor: Sharad Karkhanis, Ph.D. Kingsborough Community College,
Brooklyn, N.Y. 11235 (718-368-5149)

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