CUAO Supports Candidate
Oregon's incumbent treasurer, Ted Wheeler, a Democrat, has won formal support from the Credit Union Association of Oregon in the Nov. 2 election.
Wheeler, a former banker and ex-CEO of Multnomah County, was named to the job last March by Gov. Ted Kulongoski following the death of Ben Westlund.
CUAO said its board is "very impressed with the treasurer's interest in our issues and his understanding of the credit union movement."
Moreover, the association "is particularly pleased with the treasurer's support of increasing financial literacy among Oregon students," noting also that Wheeler would be "diligent" in seeing that public funds legislation passed by lawmakers last March is implemented "in a manner consistent with the intent of the law."
The new public funds law, set to take effect in two years, would lift the current $250,000 limit on deposits placed in CUs. In its Wheeler statement, CUAO said "our board believes Treasurer Wheeler has a strong understanding of the financial marketplace and the role that credit unions play in it."