NAFCU's Becker Sees 'A Wonderful Life' InCUs

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LAS VEGAS - (07/15/05) -- NAFCU President Fred Becker welcomed2,200 attendees to the trade organization's 39th Annual Conferencehere with a story about how Frank Capra's well known holiday movie,"It's a Wonderful Life" has parallels that apply to today's creditunion world. George Bailey, the movie's hero, lives on today in thepeople who run credit unions, including the CEOs, staff members andvolunteers, according to Becker. He cited a recent news story thatnoted bankers' profits remained at record levels in the firstquarter of 2005, and CEOs of large banks receive annualcompensation of $15 million or more. "They make more, on an annualbasis, than the individual assets of over half of the nation'scredit unions," he said. "I guess these banks CEOs are having awonderful life." Despite the record profits, banks still are tryingto impose a tax on credit unions, Becker continued. He said thebankers want to make their lives more "wonderful," as did thefictional Mr. Potter. "When all is said and done, however, I, likeyou, would rather go home at night like George Bailey," Beckerinsisted. "George knew he had a better life. Not dollar-driven, butself-satisfying, knowing he helped make the lives of others better.In the end, George Bailey was indeed the richest man in BedfordFalls."

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