Pennsylvania Credit Union Association


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A Movement or an Industry?
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blog entry by Jim McCormack
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@ August 27, 2013 12:51:20 PM

Back in late 2001, I wrote a Key Notes CEO column on whether credit unions are an industry or a movement. As my time as CEO winds down, I feel its important to revisit that topic as my feelings have not wavered and we have new credit union leaders that may not understand this important difference.

Almost daily, I hear our credit union cause referred to as an “industry.” I’m not quite sure where this trend developed -- it seems to have started somewhere in the early to mid ‘90s with dot-com entrepreneurs moving into credit unions who ...

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Memories of H.R. 1151
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blog entry by Jim McCormack
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@ August 06, 2013 12:17:19 PM

On February 25, 1998, the Supreme Court ruled 5-4 against multiple-group chartered credit unions using the language found in the Federal Credit Union Act. This legal action stemmed from a case where a North Carolina credit union added select employee groups (SEGs) to its single group charter. The local bankers sued and the ABA joined the suit. For years, the case went through the courts and appeals process. Ultimately it was heard by the U.S. Supreme Court whereupon credit unions received a negative verdict. The only remedy was to enact a new law that would permit multiple-group chartered credit unions ...

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My Most Interesting Trip
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blog entry by Jim McCormack
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@ July 17, 2013 10:14:43 AM

Editor’s Note: In recognition of CEO Jim McCormack’s upcoming retirement, we’ve asked him to reflect on both personal and credit union topics. In this blog, he details his most interesting trip.

I’ve been fortunate in my lifetime to visit all 50 states and four continents, but there is one trip that stands out the most. The year was 2000, I remember well since the Olympics were being held in Australia. A friend and I, via Jamaica, travelled to Cuba, specifically the Havana and greater Havana area. Prior to travelling, I had spent the year researching and reading all I could about ...

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Memories of a Credit Union Movement Legend
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blog entry by Jim McCormack
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@ May 06, 2013 1:46:03 PM

Richard "Doc" Heins, the retired President/CEO of CUNA Mutual Group, died recently. Doc was one of the most fascinating and interesting people found in the credit union movement. Doc was a brilliant gentleman, but never wore it on his sleeve. As you know, the hallmark of a brilliant person is their ability to translate complicated facts into simple and easy understandable thoughts.

I knew Doc for many years, having worked for him in the late ’70s and early ‘80s at the CUNA Mutual Group in Madison, WI. At that time, Doc was a senior official at CMG and had been a ...

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