Credit unions were not intended to conform to existing market and regulatory practice but, rather, to transform choices for the people the member-owners they serve
Washington, DC (PRWEB) March 22, 2013
Launched by Callahan & Associates Chairman, Chip Filson, in late February, the petition drive has garnered more than 5,200 signatures thus far.
Most recently, PSCU, the nation's leading credit union service organization serving more than 1,500 financial institutions, formally endorsed the campaign and petition drive. According to President/CEO Mike Kelly, PSCU supports the effort because it will help transform and move the industry forward, keeping credit unions relevant. “NCUA leaders who are intimately familiar with the purpose, mission and values of the cooperative model can be powerful agents for the changes our industry needs to achieve its full growth potential,” Kelly said.
PSCU joins other CUSOs and credit union business partners, such as CU*Answers, DigitalMailer, NACUSO, Northwest Credit Union Association and CU Student Choice, that are calling for more transparency at the regulatory leadership level, as well as a return to support for the 7 cooperative principles. Leaders from numerous credit unions and corporate credit unions have lent their support to the campaign, along with Kristen Christian, who founded Bank Transfer Day.
“Cooperative principles matter,” said Filson. “They matter because leaders must constantly make judgments about how to respond to ambiguous situations. The more financial progress credit unions make, the more sensitive we should become to member needs. Credit unions were not intended to conform to existing market and regulatory practice but, rather, to transform choices for the people the member-owners they serve."
For more information or to sign the petition, visit http://www.coops4change.org.
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