TAMPA, Fla. – Ed Gallagley, the well-known advocate for low-income credit union services as president of Florida Central CU, died March 28 of liver cancer, at 72.
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Gallagely built the credit union to $250 million in assets over his 44 years at the helm, while earning a reputation as a fighter for low-income and underserved members and potential members. During a 2005 hearing before Congress he argued that too many credit unions now serve the wealthy and urged more outreach to underserved people.
As recently as September, 2008, Gallagly outlined for CU Journal alternative plans for helping those without sufficient downpayments to get mortgages, including a rent-to-own proposal. He was also active in cooperatives on the international level.
