Press
Chip Filson Launches Petition for Cooperative NCUA Regulator Appointment Process; Declares Candidacy for Open Board Seat
WASHINGTON, DC — Chip Filson, Chairman of Callahan & Associates, announced today a major initiative: A New Vision for Cooperative Regulatory Leadership for the 21st Century. The initiative calls for launching a petition campaign to encourage President Obama to nominate candidates to the NCUA Board who understand the cooperative business model. Filson also announced he will seek one of what will soon be two open seats on the NCUA Board.
“The cooperative design is foundational to the success of credit unions and their member-owners. Yet there is widespread concern that the Agency is not practicing cooperative solutions,” Filson said. “How can credit unions fulfill their special role in providing Americans with real choices for their financial wellbeing if a cooperative regulatory perspective is lacking?”
Filson said he believes the administration must embrace the same standards credit unions themselves follow; they should be motivated by the unique challenges and needs of a cooperative business.
“Cooperatives work because they are citizens stepping forward. While some might say reform is the responsibility of Congress, the Administration or a Presidential appointee, it’s critical to always keep in mind that ‘we the people’ are the government,” he said. “Volunteers stepping forward created every facet of our system – credit unions, the leagues and trade associations, and most of our service providers. It follows that the design of credit unions for the next 100 years should include a regulatory body in which credit union members, volunteers and professionals have a public voice.”
It is the need for credit unions’ own voice to be heard in any cooperative process – including the selection of regulatory leadership – that has caused Filson to declare his own candidacy for an NCUA Board Member position.
“Cooperatives are different by design, and a vital component of this structure is the democratic involvement of member-owners in the choice of their leadership,” he said. “Selection through a public campaign, versus the more traditional back-door route, models important behavior for current and future credit union leaders.”
Filson said his campaign will be based on three goals: reestablishing cooperative principles as the foundation for the credit union regulatory system; providing credit union members and leaders an opportunity to demonstrate their support for leadership based on these principles; and advancing the vision of a 21st century cooperative regulator.
Among his credentials, Filson has served as NCUA’s Director, Office of Examination and Insurance; President, Central Liquidity Facility; CEO of National Credit Union Share Insurance Fund. He currently serves as Chairman of Callahan and Associates, which he co-founded in
1985. The firm provides analytics, leading-edge insight, and leadership to credit union industry decision-makers. The creditunions.com online channel is the hub of Callahan media, and offers data-rich content, including analytical features, opinion/editorials, blogs and multimedia.
To become involved in the initiative to appoint NCUA leaders who understand and support cooperatives, visit www.coops4change.org. Click here to sign the petition urging the administration to nominate men and women to the NCUA Board who are committed to following cooperative principles in their policymaking roles, as specified in the Federal Credit Union Act.
About Callahan & Associates
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