Nine Other Events Also Worth Noting
WEST PALM BEACH, Fla. -
Instead, the Editors of The Credit Union Journal have named that story as the No. 1 story of the year, and then broken out all the related news (see related story).
In our view, 1998's top stories were:
ONE: The Credit Union Membership Access Act, better known as HR 1151, overwhelmingly passes the House 411-18, culminating a two-year battle to pass the legislation. It later passes by a similarly wide margin in the Senate.
TWO: In the wake of new law, NCUA OK's new FOM rules that allow FCUs to begin adding SEGs
THREE: Forty members and employees of Ufundi Savings and Credit Cooperative Society are killed in a terrorist blast in Kenya.
FOUR: Karl Hoyle is fired by NCUA for his purported role in agency's hiring scandal. Len Skiles named to replace Hoyle as NCUA exec director.
FIVE: State regulators reach landmark agreement to streamline regulation of state-chartered CUs operating in multiple states. Not ones for brevity, NASCUS calls deal, "The Nationwide Cooperative Agreement for the Supervision of State Chartered Credit Unions Operating in a Multi-State Environment."
SIX: California league unveils plans to begin working with WOCCU on a system to help send money overseas.
SEVEN: Smaller credit unions warn that if FOM overlaps become the norm they are in great danger.
EIGHT: ABA says it will back NCUA in a plan to impose CRA-like rules on credit unions.
NINE: The Credit Union Journal reports on a story called www.lotsacompetition.com, on the emergence of search engines and how they demonstrate the level of new competition to credit unions.
TEN: NCUA Chairman Norm D'Amours burns some of his last bridges with comments at GAC critical of lack of volunteers in elected positions at the trade associations.