Study Cites CUs As Example
WASHINGTON-A study conducted by a former U.S. Treasury Department Assistant Secretary has identifed five credit unions as models of how to provide alternatives to payday loans, and further recognizes NCUA Board Member Debbie Matz as "the one federal financial regulator who has been the most vocal supporter of depository institutions developing their own low-cost payday loan alternatives." The study, authored by Sheila Bair, who is now the Dean's Professor of Financial Regulatory Policy at the University of Massachusetts-Amherst School of Management, was underwritten by the Annie E. Casey Foundation, which is dedicated to building better futures for disadvantaged children. The CUs recognized included State Employees CU (North Carolina), Pentagon FCU, Windward FCU and North Side Community FCU. The report, entitled "Low-Cost Payday Loans: Opportunities and Obstacles," is available at www.aecf.org.
CFECU CEO Gale Labato Dies
LAKE CHARLES, La.-Calcasieu Federal Employees CU CEO Gale Lebato died at Christus St. Patrick Hospital, according to the Louisiana league. Lebato received the Louisiana league's Professional of the Year award a few weeks ago during the LCUL Annual Meeting for her service as a professional and tireless efforts and continuous work on the local, state and national level to advance the ideals and philosophy of the credit union movement.
Barney Chapman To Reire
OGDEN, Utah-Barney B. Chapman, who began as a part-time teller at America First Credit Union in 1968 and eventually was charged with leading the battle against Utah's aggressive bankers, is retiring. Chapman has also led a parallel career with the Air Force Reserve. During his career, Chapman watched the CU grow from $25 million in assets to $3.1 billion.