NAFCU has reorganized its government affairs department to create a new political affairs division headed by Murray S. Chanow, formerly NAFCU's senior legislative representative. Chanow's new duties will include directing NAFCU/PAC, the association's political action committee, leading NAFCU's grassroots programs and managing the annual Congressional Caucus public affairs meeting. Brad Thaler continues to lead NAFCU's congressional lobbying team as director of legislative affairs. "It's become apparent over the last year that we need to place more emphasis on our political programs," said NAFCU President Fred Becker, "and I can't think of a more qualified person to lead our efforts in this area than Murray Chanow." Becker pointed to the association's increased visibility last year at the two national party conventions as well as activities earlier this year associated with President Bush's inauguration-all of which Chanow had a large part in orchestrating.
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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