HARRISBURG, Pa. (2/12/14)--On Monday, the Pennsylvania Credit Union Association (PCUA) gave an update on the status of the state's credit unions to the Philadelphia Federal Reserve Bank's Financial Institutions Relations Division.
PCUA President/CEO Patrick Conway and Michael Wishnow, senior vice president of communications and public relations, met with Tony Scafide, assistant vice president, and Bill Guinan, outreach manager, from the Fed.
"It was a pleasure to provide input to the Philadelphia Federal Reserve and to hear their thoughts on where they think the financial services industry is going," Conway said (Life is a Highway Feb. 11).
"The association has established a good relationship with the Philadelphia Federal Reserve, and that relationship enables us to convey to the Fed the impact that many new regulations have on credit unions and their ability to make loans," he added.
Throughout the year, the Financial Institutions Relations Division meets with financial institutions in Delaware, the eastern two-thirds of Pennsylvania and southern New Jersey. It provides analysis and feedback to Charles Plosser, president of the Philadelphia Federal Reserve Bank and member of the Federal Open Market Committee.