Pilots Protest Feds Picking Their Pockets for Security Costs; Airline CUs Diversify

WASHINGTON-Airline pilots were picketing outside of Rayburn House Office Building on Capitol Hill last week because of concessions the union made to help pay for airport security. House Transportation and Infrastructure Aviation Subcommittee Chairman John Mica (R-Fla.) held a hearing on the situation last Wednesday. (Credit Union Times was on the scene that day covering the bankruptcy mark-up. See story page 3.) According to Transport Workers Union President Sonny Hall, absorbing airport security expenses is going to “kill the airlines.” He explained that the union had already made concessions to pay for security and that the government should help. Captain Keith Wilson with Allied Pilots said that the increase in taxes on the tickets is not helping enough. Hall explained that they are earmarked for the planes’ security not the airport. In addition, the airline industry has had to lay off more than 100,000 workers, Wilson pointed out. Airline sponsored credit unions are feeling the winds of change. US Airways Federal Credit Union CEO Joe Cirelli said that while savings have held strong at his credit union, the number of net pay deposits is down. The $614 million US Airways FCU has added 90 small select employee groups since 1991, he explained, and continues to market to diversify its field of membership. In recent months other airline credit unions have been talking diversification as the industry has struggled. There are already some success stories in the industry. Eastern Financial Florida CU, Miramar, Florida, has thrived even though its original sponsor, Eastern Airlines, went bankrupt. The CU has added numerous SEGs over the years and continues to do so.