MADISON, Wis. (9/3/13, UPDATED 10:15 a.m. CT)--The National Credit Union Foundation has named Jim McCormack, president/CEO of the Pennsylvania Credit Union Association, as one of three winners of the 2014 Herb Wegner Memorial Award for Lifetime Achievement.
This is the first time in NCUF's history that three awards for Lifetime Achievement will be given. McCormack's award will be one of four total Herb Wegner Memorial Awards presented at a special dinner hosted by NCUF at the Grand Hyatt Washington on Feb. 24 during the Credit Union National Association's 2014 Governmental Affairs Conference.
"Jim has done outstanding work at PCUA throughout his career," said John Gregoire, chair of NCUF Wegner Awards Selection Committee and president of The ProCon Group in Madison, Wis. "Countless credit union members have been positively affected by his work, which is evidenced by the passion and commitment of his numerous supporters."
NCUF last week named Tim Haegelin, retired president/CEO of Generations FCU in San Antonio, Texas, as the first recipient of the 2014 Herb Wegner Memorial Award for Lifetime Achievement.
McCormack began his credit union career in 1971. Before joining PCUA in 1981, he held positions with CUNA Mutual Group both in Pittsburgh and at its corporate headquarters in Madison, Wis.
McCormack is also CEO of Pacul Services Inc., PCUA's service corporation, and CEO of Pennsylvania Credit Union Service Centers Inc., which administers the credit union shared branching network in Pennsylvania.
Under McCormack's leadership, PCUA created the Pennsylvania Credit Union Better Choice Program. The program is a public/private partnership between the state treasurer's office, state credit union regulator and 72 Pennsylvania credit unions with 215 branches statewide. It offers an alternative to payday lending, with the goal of helping consumers transition from a predatory lending environment to a wealth-building environment through credit union membership. Since inception, credit unions have made 65,000 Better Choice loans valued at $32 million, saving consumers $23 million over traditional payday lenders.
McCormack orchestrated a joint exercise between the PCUA Board and a steering committee of credit union professionals to develop the only mandatory statewide public awareness/advocacy initiative in the country, the iBelong campaign. The campaign promotes Pennsylvania credit unions in media such as TV, cable, radio, newspaper and magazines. Four other states have adopted iBelong over the past five years, with several others considering it as well.
More than twenty-five years ago, McCormack founded state credit card processing, which now serves more than 200 credit unions. PCUA administers one of the largest correspondent card programs in the country and offers debit and other payment products and services.
Since the 1980s, McCormack has launched many ATM initiatives for credit unions, including the creation of CU$, a selective surcharging compact among Pennsylvania credit unions, that provides consumers enjoy surcharge-free access to credit union ATMs throughout Pennsylvania.
McCormack has also demonstrated leadership in credit union advocacy. He cultivated a strong relationship with U.S. Rep. Paul Kanjorski, former senior member of the House Financial Services Committee and the main driver of H.R. 1151, the National Credit Union Membership Access Act. McCormack also led lobbying efforts to modernize the Pennsylvania State Credit Union Code, maintaining equal powers between state and federally-chartered credit unions, and overcame significant banker opposition.
He spearheaded the relationship with the Credit Union National Association and attorneys in litigation at both the federal and state levels defending the substantive and procedural rights of credit unions regarding community chartering. He organized the successful strategy for defense of credit union tax status in Pennsylvania court system.
McCormack has served for many years on national boards and committees, including CUNA, CUNA, CUNA Service Group/CUNA Strategic Services, NCUF and the Credit Union Service Centers. He was a charter member and table officer of the Credit Union House Board. McCormack currently serves on the CUSC Board, League Info Sight Board, and is a Credit Union Business Services Trustee.