CEOs representing two of Texas' largest credit unions–and now members of what has become an exclusive "Fed Club" of designated CU leaders–applauded the central bank Thursday for recognizing the industry during a series of Federal Reserve-run grassroots conferences now ending its first month.

"This has been a fascinating experience and one that looks to be useful as we learn more about the banks firsthand and they do the same," observed Michael Brown, president/CEO of the $1.5 billion JSC FCU of Houston in commenting on deliberations of the Community Depository Institutions Advisory Council.

In initial banker encounters so far made under auspices of the Federal Reserve Bank of Dallas, Brown said that despite the sporadic bank sniping over the tax exemption that has  occurred at some CDIAC gatherings elsewhere in the U.S., the banker conduct at the Dallas Fed sessions  has been professional and forthright, and he added, "I really think there are any number of areas where we can find agreement."