NAFCU Nominates Donovan, Fisher and Lewis to CFPB Consumer Advisory Board
WASHINGTON — The National Association of Federal Credit Unions (NAFCU) nominated Dawn Donovan of Price Chopper Employees Federal Credit Union, Robert Fisher of Grow Financial Federal Credit Union and John Lewis of United Nations Federal Credit Union to the Consumer Financial Protection Bureau’s (CFPB) Consumer Advisory Board (CAB).
The newly established CAB will advise the CFPB on how it carries out its federal consumer financial protection responsibilities. The Dodd-Frank Act charges the CAB to “advise and consult” with the bureau on its functions under federal consumer financial protection laws and to “provide information on emerging practices in the consumer financial products and services industry, including regional trends, concerns, and other relevant information.” The board will have at least 16 members, with at least six of those members appointed on the recommendation of the regional Federal Reserve Bank presidents on a rotating basis. The remaining members, appointed by the CFPB director, will have staggered terms ranging from one to three years.
“Dawn, Bob and John would make excellent additions to the Consumer Advisory Board. Each one brings a unique perspective and a wealth of insight on credit unions and the financial services industry that will serve the CFPB well,” said NAFCU President and CEO Fred R. Becker.
Donovan is CEO of Price Chopper Employees Federal Credit Union, which serves employees of Price Chopper Supermarkets in the Northeast. When she began her tenure in 1994, the credit union had $8.5 million in assets and provided only the most basic financial services. Under her leadership, the credit union has grown to $22 million in assets and now offers a full array of products and services. Donovan also instituted a comprehensive education program consisting of personal finance lectures that supply members with real life experience and practical solutions. As the CEO of a relatively small credit union, Donovan is heavily involved in all of the day-to-day operations of the credit union, including compliance, finance and marketing. In addition, Donovan is an active member of NAFCU’s Regulatory Committee and serves as an adjunct professor at Schenectady County Community College, where she teaches financial accounting and computerized accounting systems, along with ethics.
Fisher is the CEO of Grow Financial Federal Credit Union in Tampa, Fla. He has more than 25 years of experience in the financial services industry and has been CEO of Grow Financial FCU since 1992. From the time he began as executive vice president and chief financial officer in 1990, Fisher helped to increase Grow Financial FCU’s membership from 60,000 members in 1990 to 155,000 members today. In addition, he has been instrumental in efforts to attract younger members, with the average member age decreasing to 45 years of age from 60. As the community’s economy struggled, Grow Financial FCU offered free consumer education courses and seminars to members and implemented programs to assist members with poor credit histories as well as those of modest means. Fisher served on a branch board of the Federal Reserve Bank of Atlanta from 2001 to 2006, as well as on the Financial Services Advisory Board of Equifax.
Lewis serves the credit union industry in two different capacities—as senior vice president of corporate affairs and general counsel at United Nations FCU, and as vice chairman of the board of directors of ERDA (East River Development Alliance) Federal Credit Union. At United Nations FCU, Lewis is responsible for all legal and compliance functions, including several subsidiary companies in the United States and Europe, as well as branches and representative offices in Europe and Africa. United Nations FCU has over $3.5 billion in assets and serves approximately 100,000 members worldwide. By contrast, ERDA FCU is a newly chartered, low income, community development credit union located in Long Island City in Queens, NY. The credit union primarily serves the residents of the Queensbridge Houses—the largest public housing complex in the United States—as well as residents of Ravenswood Houses, another large public housing complex. Lewis was instrumental in setting up the strategic partnerships, sponsorships, mentorships and other assistance necessary to make ERDA FCU a reality. Prior to joining United Nations FCU in 2001, Lewis honed his skills at a law firm, where he oversaw a staff of attorneys that conducted several hundred loan closings each month on behalf of both lenders and mortgage brokers.
NAFCU is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public. For more information, visit www.nafcu.org.