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Dorety High-impact projects right for CUs
WASHINGTON (3/5/08)--New Credit Union National Association (CUNA) Board Chairman Tom Dorety
Click to view larger image (CLICK FOR SLIDESHOW) New CUNA Board Chairman Tom Dorety Tuesday said “many credit unions see the wisdom that serving working-class people can benefit those people and the net income of credit unions.” Dorety is president/CEO of Suncoast Schools FCU, Tampa, Fla. (Photo provided by CUNA)
Tuesday challenged credit unions to support high-impact community projects to raise awareness of credit unions among public leaders. Highlighting the importance of credit unions' involvement, Dorety cited the 2008 Herb Wegner Memorial Award Winners: State Employees’ Credit Union Foundation; Harriet May, CEO of GECU of El Paso, Texas; and Bob Hoel, former Filene Research Institute executive director. Dorety, CEO of Suncoast Schools FCU. Tampa, Fla., was addressing CUNA’s 2008 Governmental Affairs Conference here. Few credit unions could raise more than $7 million as State Employees’ Credit Union Foundation has done, Dorety noted. But he advised that as a percentage of assets that amount is equivalent to $50,000 for a $100 million-asset credit union and $5,000 for a $10 million-asset credit union. “If all credit unions did that, think of the good we could do,” he said. Dorety said it would be “foolish” to oppose Congress’ and regulators’ efforts to hold credit unions accountable for their H.R. 1151-mandated mission to serve people of modest means. Fortunately, he added, “many credit unions see the wisdom that serving working-class people can benefit those people and the net income of credit unions.” And, he added, doing so helps credit unions connect with their members.
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