MADISON, Wis.As Pennsylvania Credit Union Association CEO Jim McCormack’s career winds down, his more than 40 years in the credit union movement is being recognized by the National CU Foundation’s 2014 Herb Wegner Memorial Award for Lifetime Achievement.
McCormack, who recently announced his pending retirement, worked for CUNA Mutual Group for a number of years before joining the Pennsylvania league.
During McCormack’s tenure, the PCUA launched the Pennsylvania Credit Union Better Choice Program, a partnership between the State Treasurer’s Office, State Credit Union Regulator and 72 Pennsylvania credit unions with 215 branches statewide that offers an alternative to payday lending. Since the program’s inception, credit unions have made 65,000 Better Choice loans valued at $32 million, saving consumers $23 million over traditional payday lenders.
McCormack also spearheaded the iBelong public awareness campaign that has been adopted by four other states and promotes the benefits of credit union membership and the credit union difference in a variety of TV, radio and print media.
He was also behind the launch of state credit card processing, which now serves more than 200 credit unions. PCUA is currently administering one of the largest correspondent card programs in the country and has added debit and other payment products and services over the years.
Among the other highlights from his career:
- Helped launch a variety of ATM initiatives, including the creation of CUS, a statewide selective surcharge agreement.
- Developed a relationship with U.S. Rep. Paul Kanjorski, who was one of the primary drivers of HR 1151, the Credit Union Membership Access Act.
- Pushed for modernization of the state’s credit union code to maintain a level playing field between state and federal charters in Pennsylvania.
- Served on numerous national boards and committees including CUNA, CUNA Service Group/CUNA Strategic Services, NCUF and the CUSC board.
- Won the Eugene H. Farley League Leadership Award in 2009.
McCormack joins CO-OP Shared Branching CEO Sarah Canepa Bang and former Generations FCU CEO Tim Haegelin among the 2014 Wegner Award Winners. Canepa Bang will take home the award for individual achievement, while both Haegelin and McCormack are being honored with lifetime achievement awardsthe first time in the history of the Wegner awards that two individuals will be recognized for lifetime
