Community CU Pays The LobbyBill

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WASHINGTON - (03/22/06) – A little lobbying muscle helpedpay off big for Community CU during last year’s fight overits conversion to mutual savings bank. The Plano, Texas,institution, now known as Viewpoint Bank, paid Washingtonsuper-lobbyist Jim Butera $60,000 for what amounted to six weekswork last summer to help cultivate support in Congress for itsconfrontation with NCUA, according to disclosures with the Senatelobbying office. Butera, who has represented many of the biggestfinancial entities before Congress, including the Federal Home LoanBanks, thrift giant Charter One and even failed hedge fund LongTerm Capital Management, was hired recently to represent DFCUFinancial, the Dearborn, Mich., credit union giant converting tobank. OmniAmerican CU, the other Texas credit union giant thatconverted to bank last year, reported a similar lobbying bill withBracewell & Giuliani.

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