Vikings to Czars Junket

Here is another example of a credit union conference boondoggle.

EduCruises Credit Union Conference has a Scandinavia/Russian Voyage, which runs from August 1 through August 13.

Conference participants and their guests will travel the Baltic on Celebrity Constellation®.

Looking at the program, it seems that there will be four classroom days of the 13 day trip. The bulk of the trip involves sightseeing.

The cost for conference attendees ranges from $4,842.24 to $7,526.24. The companion rate ranges from $3,042.24 to $5,726.24.

However, if cruising the Baltic is not your cup of tea, you can plan to cruise the French Wine Country next year.

But should credit union members be paying for credit union officials to take a Baltic or French Wine Country junket?

For more info click here.

Exotic Upper Amazon Exploration

I was tipped off to a credit union cruise junket scheduled for next year that involves exploring the Upper Amazon River.

The "Credit Union Thrival and Survival Expedition" is scheduled for July 21 through July 30, 2012.

In promoting the conference, Credit Union Edu Cruises advertises:

"Experience the most unique Credit Union Cruise/Conference ever offered! This is nothing like any credit union educational event that you have ever attended."

It appears that the educational sessions will be about 12 hours.

The registration fee for the conference is $1,750 per attendee. Suites range from $5,901 per person to $6953 per person (based on double occupancy).

This does not include airfare and other expenses to this tropical destination.

I don't believe Congress intended for the the credit union tax subsidy to be used for exotic cruises down the Amazon River.

To read more about this boondoggle cruise down the Amazon, click here.

Mediterranean CU Cruise

Thanks to a column by Stuart Perlitsh, CEO of Glendale Area Schools FCU, I was informed about a credit union education junket.

CU Conferences is hosting a 10-day Mediterranean Odyssey Credit Union Educational Cruise Conference aboard the Holland America ship ms Noordam from August 2, 2010 to August 12, 2010.

The educational cruise includes stops in Barcelona, Monte Carlo, Malta, Tunis, Florence, Naples, and Rome.

The cost per participant ranges from $2995 for an Inside Stateroom to $4695 for Deluxe Verandah Oceanview. Spouse or guest rate runs from $995 to $1495. These rates do not include taxes and fees of $377.40 per person.

Some within the credit union industry are questioning the wisdom of having such a cruise. Stuart Perlitsh wrote:

"Did Congress envision the savings credit unions realize from our federal tax-exempt status would be spent cavorting around the midnight buffet on Mediterranean cruises? Facing certain unknown NCUA assessments, is now the time to cruise the Mediterranean? The future of the credit union industry faces real threats; is now the time to cruise the Mediterranean?"