Pa. large-CU CEO forum addresses challenges

HARRISBURG, Pa. (11/6/09)--Attendees at the Pennsylvania Credit Union Association's (PCUA) Large Credit Union CEO Forum in Hershey, Pa., Wednesday discussed the challenges the credit union movement is facing.

Rep. Jim Gerlach (R-Pa.), who is a member of the House Financial Services Committee, updated attendees on pending legislation regarding a proposed Consumer Financial Protection Agency, credit card reform and systemic risk (Life is a Highway Nov. 5).

Stan Hollen, CEO of CO-OP Financial Services, provided an overview of the payment systems marketplace and future innovations using CO-OP's Next Generation Network, fast branch kiosks and mobile services.

Hollen commended credit unions for their iBelong campaign to attract membership.

"You're doing it right with the focus on membership," Hollen said. "If membership is growing, everything else is okay."

Other speakers included Dr. Terry Madonna, political professor and pollster, who spoke about elections in the state for the U.S. Senate and governor; and State Treasurer Rob McCord, who restated the State Treasury's commitment to PCUA's Credit Union Better Choice program. Credit Union Better Choice is a payday lending alternative program.

McCord said he is "honored to be a credit union friend" and that "credit unions are fulfilling consumers' flight to quality and need for trust."

The forum was scheduled to finish Thursday with a speech by CUNA Mutual Group President/CEO Jeff Post about why the credit union system is needed now more than ever.

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