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MBL blog notes CUs efforts to serve small biz

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WASHINGTON (9/1/09)--A member business lending (MBL) blog addresses credit unions' efforts to get a bill passed so they can serve small business at a time when capital is tight and why it might succeed. Monday's article in Inside Business, entitled "Credit unions try to seize the moment," says that in some congressional bills of the past, credit unions have asked for comprehensive regulatory relief in several areas. However, the current bill--Promoting Lending to America's Small Businesses Act of 2009 (HR 3380)--addresses only business lending. It argues that because of the lack of credit from other institutions during the recession, the 12.25% of assets MBL cap credit unions have should be raised to 25% of assets. In an environment where the government has bailed out the financial sector, the bill reinforces credit unions' message that they have remained stable. The article quotes bill sponsor Rep. Paul Kanjorski (D-Pa.) saying that permitting credit unions to expand their lending to small businesses can "work to turn around our difficult financial situation at no cost to taxpayers." Karin Sherbin, director of governmental affairs at the Virginia Credit Union League, notes that credit unions made a political compromise in 1998 by agreed on the to get the Credit Union Membership Access Act passed. Sherbin says the cap was "to throw a bone to the banking industry. We see it as not being grounded at all in good public policy. It was just politics." Craig Zuidema, vice president of lending at ABNB FCU, Chesapeake, Va., noted that there is enough business for everyone. Credit unions don't have the advantages that banks say they do when they complain about credit unions' tax exemption. "If credit unions were so attractive and had so many advantages, why hasn't a single bank ever converted to a credit union?" Zuidema says in the article. The article also cites statistics provided by the Credit Union National Association on net charge-offs. At credit unions, the net charge-off on business loans was 0.33% of total loans in 2008, compared with 1.11% at banks. CUNA projects that within the first year of the potential cap increase, an additional $10 billion will be injected into the economy. Use the link to view the entire article.

Data breach mastermind to plead guilty

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BOSTON (9/1/09)--The man accused of masterminding the Heartland Payment Systems, Hannaford Bros. and TJX Cos. data breaches agreed Monday to plead guilty to 19 counts of conspiracy, wire fraud and aggravated identity theft charges in the breaches of TJX Cos. and other retailers in 2005. Albert Gonzalez, 28, of Miami, Fla., will face 15 to 25 years in prison and forfeit more than $2.8 million in cash in the plea bargain with prosecutors in Boston (Bankinfosecurity and Computerworld Aug. 28). He will also forfeit a Miami condo, a car and jewelry. He was accused of stealing 170 million credit and debit cards in a number of breaches. The plea bargain affects charges related to TJX, Barnes and Noble and Office Max braches. The deal also includes a case in New York, where he was charged with the breach of Dave & Buster's restaurants. Data breaches against Hannaford Bros., Heartland Payment Systems, 7-Eleven stores, J.C. Penney and Target will be treated in a separate case in New Jersey. Gonzalez and two unnamed individuals were indicted in those cases in August. According to The Boston Globe, the data thefts have cost New England companies several hundred million dollars in contending with the damages wrought by the data breaches. TJX said it spent $132 million on expenses related to the breach and set aside another $39 million to handle further claims. B.J. Wholesale Club set aside $13 million between 2004 and 2007 to handle fraud claims related to its breach. Hundreds of credit unions had to replace cards compromised in the breaches and many suffered fraudulent withdrawals on accounts.

Grassroots lobbying defines Micas tenure says league

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HIGHTSTOWN, N.J. (9/1/09)--Credit Union National Association President/CEO Dan Mica's announcement that he will step down from the position in January 2011 prompted one league CEO to sum up Mica's contributions to the credit union movement in two words: "grassroots lobbying." Mica "brought so much to our movement and forever changed the way the credit union system looks," said Paul Gentile, president/CEO of the New Jersey Credit Union League, in his message in the league's newsletter (The Weekly Exchange Aug. 24).. Before he joined the league, Gentile spent a number of years as editor-in-chief of Credit Union Times, reporting on the industry and its trends. In 1996, when Mica joined CUNA, "The credit union/bank war was fierce," wrote Gentile, outlining field of membership (FOM) expansion lawsuits brought by bankers against the National Credit Union Administration (NCUA), the AT&T FCU case appealed to the Supreme Court, FOM cases in Utah and Pennsylvania and "an onslaught of banker attempts to rid credit unions of their nonprofit status. "Bankers routinely categorized NCUA as a 'cheerleader' for credit unions and not a regulator. The rhetoric was downright vicious. Vitriol spewed from bankers looking to squash expansion of the credit union movement. Credit unions were constantly on the defensive, always having to fend off one banker attack after another," he wrote. "Enter Mica. At a time when credit unions' influence on Capitol Hill was modest, Mica raised the bar," said Gentile, noting that the CUNA Political Action Committee (PAC) has become one of the top trade association PACs in the country. "But I believe Mica's greatest accomplishment was in grassroots lobbying and getting credit unions to understand that lobbying isn't just for crises. He had a vision to rally credit unions for the next attack, even when there was no attack," Gentile wrote. "Mica led the development of authentic grassroots lobbying that hinged on building relationships from the roots of the movement, the credit unions themselves," Gentile said. "Any industry can bring in hired guns to represent them on Capitol Hill, but not just any industry has the type of grassroots power that Mica shaped during his 13-year tenure at CUNA," he added. "Credit unions now understand the importance of constantly developing lawmaker relationships even when there isn't a rallying cry. Mica helped lead this sea of change in credit union lobbying. In the end, while our trade associations carry the ball on Capitol Hill, we need the participation of credit unions from throughout the country to really hit home with Congress. We have that today and Dan was the driving force." Mica built a political machine at CUNA that has the structure to influence for years to come, Gentile said, listing CUNA's annual Governmental Affairs Conference and CUNA's Calls to Action, which rally thousands of credit union leaders to get the attention of lawmakers or regulators. "We saw the power of that Call to Action earlier this year when CUNA pressured NCUA to give credit unions more information about the investments held in the corporate credit union network," he wrote. Mica "turned CUNA from a marginal player in D.C. to a respected and sophisticated force. He put us on the map." Gentile noted that the average tenure for a CUNA CEO was seven years. "Mica blew that mark away because of his passion for credit unions and his ability to get us organized in D.C. Make no mistake. Mica's mark on credit unions won't leave when he leaves."

CNYIN names new board

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RANCHO CUCAMONGA, Calif. (9/1/09)--The California and Nevada Youth Involvement Network (CNYIN) recently elected three new board members and re-elected one for 2009-2010. The three new board members are:
* Shelly Berryman, SchoolsFirst FCU, Santa Ana, Calif.; * Crystal Lyon, Silver State Schools CU, Las Vegas; and * Dhara Sanchez of Inland Empire CU in Pomona, Calif.
Chairman Michael D. Lee of The Golden 1 CU, Sacramento, was re-elected to the board. All ran unopposed. They join current board members:
* Mike Jones, Educational Employees CU, Fresno, Calif.; * Michelle Lawrence, American First CU, La Habra, Calif.; * Marlene Myers, Travis CU, Vacaville, Calif.; and * Katherine “Kate” Robinson, Greater Nevada Credit Union, Reno, Nev.
“The new board has plenty on its plate for the rest of 2009, including a September 16 webinar on private student lending,” said Cathy Arra, CNYIN liaison and California and Nevada Credit Union Leagues’ credit union growth manager. The webinar will be held from 1:30 p.m. to 3 p.m. with guest speaker Michael Weber of Credit Union Student Choice, a private student lending program. CNYIN will host a National Endowment for Financial Education’s High School Financial Planning Program Train the Trainer event at Redwood CU in Santa Rosa, Calif., Sept. 29. It also will host the Credit Union National Association’s Mad City Money simulation during the leagues’ Annual Meeting and Convention Nov. 16 in Las Vegas. On Nov. 17, CNYIN will conduct a Train the Trainer workshop at Silver State Schools CU, Las Vegas. “We have ambitious plans for 2010,” Lee said. “We hope to expand our membership base to take in associate members as well as work towards increasing our involvement with more and varied business partners.”

Minnesota award winners announced

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ST. PAUL, Minn. (9/1/09)--The Minnesota Credit Union Network (MnCUN) announced the state winners of the 2009 Dora Maxwell, Louise Herring and Desjardins awards. The awards are sponsored by MnCUN and the Credit Union National Association. Dora Maxwell Social Responsibility Awards winners include:
* West Financial CU, Medina; $5 million to $20 million in assets; * Heartland CU, St. Paul, $50 million to $100 million; * Greater Minnesota CU, Mora, $100 million to $200 million; * Mid-Minnesota FCU, Baxter, $200 million to $500 million; and * Hiway FCU, St. Paul, more than $500 million.
Louise Herring Award for Philosophy in Action winners are:
* Star Choice CU, Minneapolis, less than $50 million in assets; * First Alliance CU, Rochester, $50 million to $250 million; and * US FCU, Burnsville, more than $250 million.
Desjardins Youth Financial Education Award winners are:
* Greater Minnesota CU, $75 million to $250 million in assets; and * TopLine FCU, Maple Grove, more than $250 million.

Invest in America expands to RVs

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LIVONIA, Mich. (9/1/09)--The Invest in America program has been expanded to include seven recreational vehicle (RV) brands, announced CUcorp and RV manufacturer Thor Industries Wednesday. Credit union discounts will range from $300 to $1,000 depending on whether the RV is motorized or towable. The discounts will be available nationwide. Participating Thor brands include: Airstream, Breckenridge, CrossRoads, Damon Motor Coach, Dutchmen, Four Winds and Komfort. “The agreement with Thor will provide value for credit union members on RV purchases, help credit unions gain more market share in RV loans and help strengthen the RV manufacturing industry through ‘Invest in America’ program discounts,” said David Adams, CUcorp CEO. CUCorp is a marketing company based in Livonia, Mich., and wholly owned subsidiary of the Michigan Credit Union League. More people are staying close to home for vacations and looking to RVs as a more affordable vacation alternative, added Dicky Riegel, Thor chief operating officer. Invest in America offers credit union members discounts on select domestic auto brands, including General Motors and Chrysler. Ford is offering a pilot leasing program in six markets. Discounts also are available through mobile phone carrier Sprint. GM and Chrysler discounts through Invest in America have facilitated 180,000 vehicle sales since January with 146,000 credit union loans totaling $2.9 billion. Invest in America has garnered significant media attention on its partnership with Thor from media outlets including CNBC, MSN Money, Forbes, The Wall Street Journal, BusinessWeek, Yahoo Finance, AOL Money, The New York Daily News, the Street, the Washington Examiner and the San Francisco Examiner. A number of RV and trade media also covered the partnership.

Cann to lead NASCUS CU Advisory Council

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BOSTON (9/1/09)--J. Parker Cann, senior vice president and general counsel, Boeing Employees CU (BECU), began his two-year chairmanship of the National Association of State Credit Union Supervisors (NASCUS) Credit Union Advisory Council on Aug. 21 during the NASCUS State System Summit in Boston. Cann will serve as the council chairman until 2011. Cann, a 30-year veteran of the financial services industry, has served as both a state credit union regulator and a credit union executive. Prior to his current role at BECU, he was president/CEO of Columbia CU, Vancouver, Wash., and the chief credit union regulator for Washington state. “My chairmanship of the Credit Union Advisory Council is occurring at a critical time for credit unions and the financial services industry as a whole,” Cann said. “As we fulfill our important role as advisors to state regulators, I will continue to promote the Credit Union Advisory Council's support for state regulatory authority and the preservation of a strong state charter.” The NASCUS 2009-2010 Credit Union Executive Council, the governing body of the Advisory Council, also was announced at the meeting. The four council directors re-elected for three-year terms are:
* Ed Bibgy, Norbel CU, Colo.; * Jim Blaine, State Employees’ CU, Raleigh, N.C.; * Catherine Tierney, Community First CU, Appleton, Wis.; and * Mendell Thompson, America’s Christian CU, Glendora, Calif.
Cann also reappointed Bob Fouch, Corporate Central CU, Hales Corners, Wis., as the council’s designated corporate credit union representative for a three-year term. This year’s annual meeting was the last for Immediate Past Credit Union Advisory Council Chairman Thompson, who served as the council's leader for more than two years. The sitting Credit Union Executive Council directors are:
* Steve Behler, Kemba CU, West Chester, Ohio; * Jason Boesch, Oklahoma RE&T CU, Oklahoma City, Okla; * Linda Childs, Knoxville (Tenn.) Post Office CU; * Drema Isaac, Central Macomb Community CU, Mount Clemens, Mich.; * Debbie Peters, INCOL CU, Old Forge, Pa; and * Richard Rice, Teachers CU, South Bend, Ind.
The group also elected its officers. Tierney is the chairman-elect, and Bigby will serve as secretary.

Wegner Award recipient IBiz KidI wins Emmy

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SEATTLE (9/1/09)--Biz Kid$--the first national television program ever sponsored by America's credit unions--will be presented the National Credit Union Foundation's (NCUF) 2010 Wegner Award for Outstanding Program. And it won its first Emmy award this weekend. The show was awarded a Daytime Emmy from the National Academy of Television Arts & Science on Sunday. The award was for "Outstanding Achievement in Main Title and Graphic Design." The program was nominated in two categories. "First BizKid$ was nominated for the highest national honors in the television industry. Now it will win the highest national honors in the credit union movement," said Missouri Corporate CU President/CEO Dennis DeGroodt, who chaired NCUF's Awards and Recognition Committee during deliberations on Outstanding Program nominations. The Wegner Award will be one of four presented at NCUF's 22nd Annual Wegner Awards Dinner on Feb. 22, 2010. The dinner will take place at Grand Hyatt Washington during the Credit Union National Association's 2010 Governmental Affairs Conference. Online registration will be available later this year at NCUF's website.
Pictured are members of the cast of the credit-union sponsored public television show, Biz Kid$, which won the 2010 Wegner Award for Outstanding Program, and an Emmy. (Photo provided by the National Credit Union Foundation)
Biz Kid$ already had made TV history as the highest-carried program on American Public Television. Executive Producer Jamie Hammond noted that the Emmy award is an "affirmation of the show's quality" and "a recognition of the importance of the subject matter, given that everything that is happening in our country at this time." Washington Credit Union League President/CEO John Annaloro said the program is "the credit unions' gift to youth financial literacy in America." An Emmy "shows the power and innovativeness of the presentation," he added. "This award is a testament to the technical quality of the production, which draws viewers to the show and its lessons about financial literacy. As the exclusive underwriters of the first three seasons of the series, credit unions could not be happier." In addition to the Wegner Award and the Emmy, Biz Kid$ was also nominated as an Outstanding Children's Television by the Environmental Media Awards for its episode on the green economy. The program airs on 334 public broadcast stations, nationwide. The stations broadcast to more than 112 million households, including more than 230 million people over the age of two. That is 97% of the public television market and exceeds all American Public Television children's programs by 30%. Each episode begins and ends with a student pulling down a projection screen over a classroom billboard to reveal the America's Credit Unions logo. A narrator reminds viewers that "Production funding for Biz Kid$ is provided by America's Credit Unions, where people are worth more than money." Every episode includes four stories from successful young entrepreneurs reinforcing the importance of budgeting, saving and giving back to their community. Several of the featured youth have joined credit unions. All 39 episodes come with lesson plans, teaching materials and activities that meet national financial literacy standards. Its curriculum was developed by a credit union advisory group and Outreach Extensions, creator of the educational materials for Bill Nye the Science Guy. In the past year, more than 64,000 teachers used the Biz Kid$ curriculum to educate 9.2 million students.

California announces Maxwell Herring award winners

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RANCHO CUCAMONGA, Calif. (9/1/09)--Meriwest CU, San Jose, won first-place California state awards in the Dora Maxwell Social Responsibility Recognition Award and in the Louise Herring for Philosophy in Action Award program. Also, L.A. Financial CU, Pasadena; TUCOEMAS FCU, Visalia, and the San Francisco Chapter won first-place statewide honors in the annual Dora Maxwell program. Meriwest was recognized in the $500 million and above asset category for its “Financial Education for All” program. The credit union provided more than 115 various financial education classes to more than 1,650 community members. Its first place Louise Herring Award was in the greater than $250 million asset category for its “Financial Education for All” program geared toward young members. So far this year, the credit union educated 225 members at its in-house workshops--124 in its Teen Real World Budget workshops, and 102 in its Credit Myths and Auto Financing 101 workshops. The Credit Union of Southern California in Whittier, won second place in the $500 million and above asset category in the Dora Maxwell Award program for its annual food distribution program, which distributed more than 100,000 pounds of food to local residents in 2009. California Coast CU, San Diego, won second place in the Louise Herring Award program in the greater than $250 million asset category for its Member Loan Assistance program to help those with financial hardships and difficulties making their mortgage, secured loan or unsecured loan payments. L.A. Financial CU won a first-place Dora Maxwell award in the $200 to $500 million asset category for its partnership with the L.A. Clippers basketball team and its Kids Read to Achieve for Financial Literacy program. The program teaches youth about money by rewarding them for reading books about saving, budgeting and financial fitness. This year, the credit union reached 16,300 students, with 83 high school students participating in a financial literacy essay program for a chance to win one of five $200 scholarships. TUCOEMAS FCU received a first-place Dora Maxwell award in the $100 to $200 million asset category for its Hats for Hope program. The credit union donated 585 handmade knitted hats and 31 lap blankets to cancer patients undergoing chemotherapy and radiation treatments. The San Francisco Chapter won its first-place Dora Maxwell award in the chapter/multiple credit union category for its first “Credit Union Night with the Golden State Warriors” program. The event raised more than $2,000 for the Children’s Miracle Network and Children’s Hospital and Research Center, Oakland. The Golden 1 CU, Sacramento, received the only honorable mention given this year--in the greater than $250 million asset category in the Louise Herring Award program--for its youth programs.

CU System briefs (08/31/2009)

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* NEW YORK (9/1/09)--Municipal CU, New York, N.Y., has reported that counterfeit official checks bearing its name are in circulation, warned the Federal Deposit Insurance Corp. The items display a routing number, 011007092, which is assigned to Money Gram Payment Systems Inc., Minneapolis, Minn. The credit union issues its official checks through Money Gram via an account at The Bank of New York Mellon. The counterfeit checks have a security feature statement embedded in a darkened top border and along the bottom border between two padlocks. Authentic checks have an ornate border with a security statement below the top border and fa heat-sensitive security feature on the left side of the check. A padlock security icon is displayed next to the signature line in the lower right corner … * MONTEREY PARK, Calif. (9/1/09)--E1 Financial CU members
Click to view larger image Click for larger view
voted "yes" in favor of a merger of E1 Financial with NuVision FCU, according to a joint statement by the credit unions. The vote was certified by independent auditors on Thursday. Lynn Bowers, CEO of E1 Financial, cited increased branches and ATMs, plus opportunities for additional products and services as reasons for the vote to merge. Pending approval from regulators, the merger should be formal early in fourth quarter. The surviving credit union will be keep NuVision's name. NuVision CEO Roger Ballard will remain CEO and Bowers will become president. It will be headquartered in Huntington Beach, with branches in Los Angeles and Orange counties. Congratulating each other are, from left: Ballard; NuVision Board Chair Robert Geraci; Bowers, and John Cullum, board chair at E1 Financial CU. (Photo provided by E1 Financial CU and NuVisions FCU) ...

Missouri CUs Homes for Our Troops recipient named

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ST. LOUIS (9/1/09)--Army Staff Sgt. Robert Canine, a native of Mexico, Mo., will receive the first specially adapted home built by Missouri credit unions and Homes for Our Troops (HFOT).
Click to view larger image Army Staff Sgt. Robert Canine, a native of Mexico, Mo., standing on his new prosthetics, will receive the first specially adapted home built by Missouri credit unions and Homes for Our Troops.
Canine lost both legs below the knee in an explosion when the Humvee he was commanding was attacked in Baghdad, Iraq, on May 17. He is undergoing a year of physical therapy at Walter Reed Army Medical Center and learning to walk again on prosthetics. Canine, with his wife, Jennifer, and their eight-year-old son, Sebastian, will then return home to Missouri. Having a specially adapted house to come home to will make a tremendous difference to the family, he said. “I have stayed in homes that are not handicap accessible, and it was a challenge every day to get around,” Canine said. “The assistance I will receive from Homes for Our Troops will eliminate those daily challenges and improve my quality of living every day.” The non-profit group HFOT builds specially adapted homes for severely injured veterans, at no cost to the veteran. The Missouri Credit Union Association has joined forces with HFOT to build homes in the state. “Credit unions’ purpose is to help people and make a difference,” said Missouri Credit Union Association President/CEO Rosie Holub. “We are thrilled to lead the effort in Missouri to build homes for injured veterans that will allow them to focus their attention on recovery and living their lives to the fullest here at home.”
Click to view larger image Robert Canine (center) and his son, Sebastian, and wife, Jennifer, are long-time members of United CU, Mexico, Mo. (Photos provided by the Missouri Credit Union Association)
Canine and his extended family are long-time members of United CU, Mexico, Mo. He found out about the HFOT program from credit union staff shortly after he was injured. “After Bobby was hurt, I thought about Homes for Our Troops and how it could really help them,” said United CU Marketing Manager Heather DeMint. “I explained the program to his family in Mexico to see if they were interested and provided the information he needed to apply.” “We are proud to have Missouri credit unions join us in fulfilling our mission of building specially adapted homes for severely injured veterans,” said John Gonsalves, HFOT president and founder. Credit unions, leagues and the Credit Union National Association also partnered with HFOT and the national presidential conventions in Minnesota and Colorado for similar home projects in those states.

CU system leaders to gather at Estes Park

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WASHINGTON (9/1/09)--Credit union system leaders past and present will gather Sept. 14-17 in Estes Park, Colo., to commemorate the 75th anniversary of the Credit Union National Association (CUNA).
Click to view larger image Among the guests will be Kathy Pellitier, granddaughter of credit union pioneer Roy F. Bergengren. She is shown here speaking at an event at America's Credit Union Conference and Expo in June. (Photos provided by CUNA)
Estes Park is where CUNA's Constitution and Bylaws were signed on Aug. 10, 1934, less than two months after the Federal Credit Union Act was signed into law and 25 years after the nation's first credit union was established. "Seventy-five years ago, an extraordinary group of credit union pioneers held a 'meeting of the minds' in Estes Park, Colo., about a national association that would enhance the movement throughout the land and help it become self-reliant," said CUNA President/CEO Dan Mica. "Today, it is an honor for all of us at CUNA to continue the work set out by those leaders three-quarters of a century ago," Mica added. "Our focus, like that of our founders, is on advancing this great movement to new heights through leadership, advocacy and services." Among the highlights at this month's meeting will be special guest Kathy Pelletier of Berlin, Vt., granddaughter of credit union pioneer Roy F. Bergengren, who attended the meeting and helped found CUNA. Activities scheduled include:
* A CUNA and CUNA Strategic Services board of directors commemorative meeting; * Dedication of a 75th anniversary plaque at the YMCA Camp in Estes Park, where the original gathering of CUNA's founders took place; * Keynote speeches from today's credit union leaders; and * A photo at the outdoor site where 52 credit union delegates from 21 states and the District of Columbia originally posed for the iconic group photo taken in 1934.
Click to view larger image Pioneers of the credit union movement gathered in 1934 for a group photo commemorating the founding of the Credit Union National Association (CUNA) at Estes Park, Colo. A similar photo is planned for the CUNA 75th anniversary gathering Sept. 14-17 in Estes Park.
Among those invited to join the CUNA and CSS boards and executive management teams for the commemorative events are the credit union league presidents and their chairs from the 50 states, past CUNA chairs and CUNA presidents; representatives of affiliated and guest organizations, and board members of the National Credit Union Administration. Today CUNA represents nearly 90% of the nation's 8,000 state and federally chartered credit unions, which have combined assets of close to $900 billion and serve more than 92 million Americans. "When we meet in Estes Park as a tribute to our organization's founders, all of us will have 75 years of credit union progress on our minds--and a determination to ensure the next 75 years of progress and prosperity for credit unions," Mica said.

Tierney presented NASCUS Pierre Jay award

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BOSTON (9/1/09)--Catherine Tierney, Community First CU president/CEO, was awarded the National Association of State Credit Union Supervisors (NASCUS) 2009 Pierre Jay Award at the NASCUS State System Summit, Aug. 20-22 in Boston. The award is given to individuals who demonstrate outstanding service, leadership, achievement and efforts which benefit NASCUS and the dual-chartering system. The award was established to honor the memory of Pierre Jay, Massachusetts Banking Commissioner from 1906-1909 and the father of the first State Credit Union Act. Tierney, a 30-year veteran of the credit union system, has been active in NASCUS and other credit union organizations for years. In addition to her credit union’s recent success in challenging the Internal Revenue Service on unrelated business income tax, her Appleton, Wis.-based credit union reached $1 billion in assets--30 years after she started as a teller in the same credit union. Tierney serves as the NASCUS Credit Union Executive Council secretary and as a member of the Education and Legislative and Regulatory Affairs committees. “During Cathie’s significant career in credit unions, there has never been a hesitation to contribute where needed, reaffirm the cooperative principles of the credit union system and most importantly, represent the state credit union system on the national and state levels,” said NASCUS Past Chairman George Reynolds of Georgia, who presented the award. “I can’t think of an individual more deserving of this award,” he added. “She has worked tirelessly to preserve and advance the dual-chartering system and to fight for the interests of all state-chartered credit unions.”