August 18, 2009

NASCUS Commemorating 100 Years of the State Credit Union Charter at State System Summit

Boston, Mass. — On August 20-22 in Boston, the state credit union system's leaders, state and federal regulators and dual chartering supporters will join NASCUS for its annual State System Summit.

NASCUS' full schedule of events begins August 19 with business meetings of its leadership and a joint regulators meeting with the Conference of State Bank Supervisors (CSBS). Also on August 19, NASCUS is holding a Directors College for New England area credit union directors. The week will culminate with the State System Summit, August 20-22.

"One hundred years ago, Massachusetts passed the first state credit union act creating an example for state and federal credit union chartering," said NASCUS President and CEO Mary Martha Fortney. "The 2009 NASCUS Summit will recognize this milestone in state credit union history and focus on the constructive dialogue to strengthen safety and soundness as well as improve the financial health of credit union members."

At this year's meeting, NASCUS' current Chairman George Reynolds (GA) will pass the leadership to a new Chairman, Thomas Candon, Deputy Commissioner of Banking for Vermont the Department of Banking, Insurance, Securities & Health Care Administration. Parker Cann, Senior Vice President and General Counsel of BECU in Washington State, will assume the Chairmanship of the NASCUS Credit Union Advisory Council, a position currently held by Mendell Thompson, America's Christian Credit Union, California.

The Summit's featured speakers are Federal Deposit Insurance Corporation (FDIC) Board member Thomas Curry; National Credit Union Administration (NCUA) Vice Chair Rodney Hood and Board member and NASCUS liaison Gigi Hyland; mortgage experts Tracy Ashfield and Richard Hagar; and President of Callahan and Associates Chip Filson, among others. The agenda's includes presentations on the state of the corporate credit union system, supplemental capital, vendor management, UBIT, credit union taxation, shared branching issues and consumer lending regulatory updates.

NASCUS will also present its prestigious Pierre Jay Award on August 20. To read more about the Summit, visit NASCUS' Web site at

Information Contact:
Kate Hartig, VP, Public Relations and Legislative Affairs, (703) 528-0669 or
The NASCUS mission is to enhance state credit union supervision and advocate a safe and sound state credit union system.