WASHINGTON -
* As soon as credit unions cleared out of Washington bankers started filling hotel rooms. CUNA CEO Dan Mica said a bank "fly in" was designed to "undo everything you've done."
* In his last remarks as CUNA Chairman, Juri Valdov, who is president of Northwest FCU, urged credit unions to continue to make a priority of financial literacy, and said he was proud during his term to see all that had been accomplished by CUNA, the leagues and credit unions themselves to better prepare for disasters.
* Credit unions gathered for a World Council of Credit Unions-sponsored reception at the Canadian Embassy (the only foreign embassy with a view of the U.S. Capitol) prior to the start of GAC. The Canadian site was selected because WOCCU will host its 2007 World CU Conference in Calgary, Alberta July 29-Aug. 1.
* When NCUA Vice Chairman Rodney Hood, who ran long in his remarks before an audience awaiting an appearance by actor Martin Sheen, remarked, "Let me close," a smattering of applause broke out in the audience. Later, after Hood had finished a rather exhaustive list of things he plans to accomplish, emcee Paul Berry observed, "I'm tired just listening to him."
* NASCUS Chairwoman Linda Jekel said she expected the IRS to release Technical Advice Memoranda (TAMs) on the Unrelated Business Income Tax related to state-chartered credit unions, and indeed, within a week of her remarks, the IRS did so, stirring up a hornet's nest on taxation of SCUs (see related story, page 1). "While UBIT only applies to state-chartered credit unions, NASCUS recognizes that the implications of one charter's challenges are not always isolated," Jekel said.
* In an attempt to soften the edges of partisanship that has gripped Congress, a Democrat and a Republican have created a breakfast club of sorts on Capitol Hill. Connecticut Democrat Sen. Joe Lieberman, who made history by winning reelection without the benefit of his own party's backing, and Sen. LaMar Alexander host the breakfast that has drawn as many as 42 members and averages about 20.
