WASHINGTON-Patelco Credit Union Senior Vice President and CFO Scott Waite has been selected as the first ever credit union representative on the Financial Accounting Standards Advisory Council (FASAC). Waite also serves as CUNA's CFO Council chairman and was nominated by CUNA. FASAC will meet four times next year to advise the Financial Accounting Standards Board on how issues related to generally accepted accounting principles will affect financial institutions. Waite will focus on credit unions. Waite also was a founder of the California Credit Union League's CFO Leadership Council and the San Francisco CFO roundtable. In addition, he serves as CEO of Patelco's investment brokerage and insurance subsidiary. FASAC members come from the pool of corporate CEOs and CFOs, senior partners of public accounting firms, executive directors of professional organizations, and senior members of the academic and analyst communities.