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Washington
Former NCUA Chairman Callahan passes away
WASHINGTON (3/19/09)—Former National Credit Union Administration (NCUA) Chairman Edgar Callahan passed away Wednesday in Sacramento, Calif., following a long illness, the NCUA reported. Marking Callahan’s passing, Credit Union National Association President/CEO Dan Mica called the former agency head a visionary in the credit union movement. Mica said Callahan foresaw an operating environment in which credit unions could serve their members with the least government interference as possible, while safety and soundness was assured. “As NCUA chairman, he proudly kept a sign outside of his office reading ‘we don’t run credit unions,’ and he made that his mantra. Today, we continue to strive toward Ed’s vision of a credit union movement sensibly regulated in its efforts to serve members in a safe and sound manner. CUNA appreciates his efforts as a regulator and his many contributions to the movement as a credit union leader himself,” Mica said. According to agency information, Callahan was nominated to a six-year term on the NCUA Board in the fall of 1981 and he served as chairman from Oct. 22, 1981, to May 3, 1985. Current NCUA Chairman Michael Fryzel called Callahan a “modern day pioneer in the credit union movement.” “He showed his concern and passion for credit unions as a regulator in Illinois, as chairman of NCUA, the founder of Callahan and Associates, CEO of Patelco Credit Union (San Francisco) and as a philosopher, a visionary, and a doer. “There is not a single aspect of day-to-day NCUA or credit union operations that does not bear his mark,” Fryzel said.


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