Credit Unions As SuperHeroes

July 14, 2006, 1:00 a.m. EDT 1 Min Read

TORONTO - (07/14/06) -- Credit unions as Super Heroes?Thats what NAFCU President Fred Becker posited before heripped off his shirt and tie to reveal a Spiderman costume duringhis groups 39th annual convention Thursday. Why Spiderman?Thats because hes a regular guy, doing great thingsfor average people, said Becker during his keynote address to theconvention's 2,000 attendees. And like Spiderman, credit unions areable to rescue citizens from villainous banks, protect them frompredatory lenders, and serve the needs of all Americans. Beckeralso departed from his usual approach and urged the gathered creditunion executives to step out and take some risk on theircommunities and on needy members. Our primary focus shouldalways be our members, and helping others become membersnotour CAMEL ratings, said Becker. But I believe that wecan strike a balanceand like Peter Parker (Spiderman's alterego)be Super Heroeseven though were justregular people.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Monetary policy

The Fed can ignore Trump — but markets are listening

The president and his allies have stepped up their verbal attacks on the Federal Reserve and its chairman in recent weeks, and while the tough talk has not changed policy, it has sent a clear message to the financial sector.

By Kyle Campbell

13m ago
Cryptocurrency

Erebor's charter bid rides wave of fintech-friendly policy

Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.

By Ebrima Santos Sanneh

July 2
Regulating Crypto

Ripple joins other crypto firms seeking trust bank charters

The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.

By Penny Crosman

July 2
Regulation and compliance

NCUA sets high bar for criminal referrals after Trump order

The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.

By Nathan Place

July 2
Fraud

Bank groups encourage Treasury switch to digital payments

Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.

By Melinda Huspen

July 2
M&A

Louisiana bank to enter Dallas with its second Texas deal

Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.

By John Reosti

July 2