Vadala Elected Chairman of NAFCU

WASHINGTON-The Summit FCU CEO Michael S. Vadala has been elected chairman of NAFCU. "After serving as vice chair for two years, I am honored to have been chosen by my peers to lead NAFCU for the coming year," Vadala said. Vadala is a seasoned board member having joined in 1997 as a Region I representative. He has taken the lead for NAFCU on some issues. In 1997 he testified at House Subcommittee hearings on credit union membership and was also asked to testify before the Senate Banking Committee on the issue of credit union membership and ATM surcharges in 1998. In June 2003, he testified before the House Financial Institutions Subcommittee on extending Fair Credit Reporting Act preemptions. He started his CU career as an auditor for the New York League back in 1979. He succeeds Southwest Airlines FCU CEO Diane Furnas. Other changes on the NAFCU board include the following: * John W. Milazzo Jr., Vice Chair-president of Campus FCU in Baton Rouge, La. Milazzo has previously served as NAFCU's treasurer. * Bradley W. Beal, Secretary-president of Nevada FCU in Las Vegas. Beal is Region V director of NAFCU and has served on numerous NAFCU committees. * Bill Cheney, Treasurer-president of Xerox FCU in El Segundo, Calif. Cheney previously served two terms as secretary. He also chairs the Legislative Committee.