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CU System briefs (04/17/2008)
* WASHINGTON (4/18/08)--Alastair Shore, senior vice president and chief underwriter for credit union insurer CUNA Mutual Group, Wednesday addressed the House Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, chaired by U.S. Rep. Paul Kanjorski (D-Pa.) On behalf of CUNA Mutual, the American Insurance Association and the American Council of Life Insurers, Shore said the groups strongly support Optional Federal Chartering (OFC) for insurance companies as the best alternative for modernizing and reforming the current state-based insurance regulatory system. OFC would complement, not replace the state model, he testified. "We strongly support a single authority for insurers that choose to be regulated at the federal level, while maintaining the state-based regulatory system for insurers that choose to remain state-regulated," said Shore. He said the current system "reflects a regulatory approach rooted in the 19th century that includes stifling regulatory regimes and has contributed to the outflow of risk-bearing capital to jurisdictions with more rational and efficient regulatory systems." (Photo provided by CUNA Mutual Group) … * FARMERS BRANCH, Texas (4/18/08)--Hal Thomas, retired CEO of Community Resource CU, Baytown, was inducted Wednesday into the Texas Credit Union Hall of Fame during a ceremony at the Texas Credit Union League's Annual Meeting and Expo in Houston (LoneStar Leaguer April 17). Thomas began his credit union career in 1964 as CEO of Exxon Baytown CU and retired in 2007 as CEO of Community Resource CU. He is a past director of the league and of the Credit Union National Association, and past president of the Houston Chapter of Credit Unions. He also served a six-year term as a member of the Texas Credit Union Department Commission … * WICHITA, Kan. (4/18/08)--Boeing Wichita CU (BWCU) President/CEO Gary Regoli has accepted the position of president/CEO at Clearwater, Fla.-based Achieva CU. His last day at the $519 million asset BWCU--Kansas' largest credit union--will be May 15 (Wichita Business Journal April 16). Wade Bruendl, chief operations officer, has been named interim president/CEO and a search for Regoli's replacement has begun. Regoli took the position at the $618 million asset Achieva because it was an opportunity to return home, he said in a press release. He spent 20 years in Florida before joining BWCU. He will start at Achieve on June 2 … * BELLEVUE, Neb. (4/18/08)--SAC FCU has formed a task force to provide financial education to cash-based consumers in the community who may be using predatory lenders. The task force aims to help them minimize expenses by developing a basic understanding of financial services and fees, and learning the importance of protecting their identity. The task force developed a curriculum and has begun teaching classes at the NAF Multicultural Human Development Corp. with students from English as a Second Language courses. Shown here are, from left, Roberto Reyes, branch manager of the credit union's South Omaha branch; Gail DeBoer, SAC FCU president; and a student participating in the program. (Photo provided by SAC FCU) …


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