PSCU is among the latest to sign a petition that calls for a more open and transparent process in appointing directors to the NCUA.
The St. Petersburg, Fla.-based payment services CUSO is backing the initiative launched by Chip Filson, chairman of Callahan & Associates Inc., during CUNA’s Governmental Affairs Conference in Washington last month.
The petition asks President Obama to consider nominees “who understand the shared economic value for people and communities created by the cooperative model.”
As of Tuesday, the petition had 4,716 signatures.
“This call to action for our industry is rooted in the belief that informed and enlightened governance of cooperatives will help move the transformation of the industry forward and drive sustainable relevance for credit unions,” said Michael Kelly, PSCU president/CEO.
Kelly noted that cooperatives fill a special role in financial services. In 2012, 2.1 million new members chose to join a member-owned and member‐funded institution, PSCU said. Credit unions also granted a record $330 billion in new loans, which helped millions access record low rates, refinance debt and build consumer confidence, according to the CUSO.
“NCUA leaders who are intimately familiar with the purpose, mission and values of the cooperative model can be powerful agents for the changes our industry needs to achieve its full growth potential,” Kelly said.
PSCU said in unity with other organizations in the industry, is calling on the credit union community to support of the petition, which requires 100,000 signatures by March 26 for the White House to respond.