NAFCU Seats New Chair

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ARLINGTON, Va. - (06/09/05) -- NAFCU said Wednesday that MichaelVadala, the well-known president of Summit FCU in Rochester, N.Y.,and a director since 1997, has been elected new chairman of theboard. Vadala will succeed Diane Furnas, the president of SouthwestAirlines FCU, who is retiring. Vadala, who started his credit unioncareer as an auditor with the New York CU League, is well-known incredit union circles and has testified before Congress on behalf ofNAFCU several times. More recently he organized an affordablehousing fund that raised $150 million from New York credit unionsearlier this year, the largest fund of its kind ever created bycredit unions.

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