David Mooney, chief executive officer of Alliant Credit
Union in Chicago, one of the nation's larger credit
unions, used to work at one of Wall Street's top banks,
JPMorgan Chase. There's a vast cultural gap between
Wall Street and his new world, he says: Old friends
from the Street, he says, now jokingly refer to him as
a "socialist." A credit union is supposed to be run in
the interests of all members, he says, while
commercial bankers tend to see consumers as
customers who can be "exploited" by layering on
more fees.
Says Mooney: "I don't say this lightly, but the
consumer is simply an income stream and exploiting
that is the purpose of the banking organization."

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