ARLINGTON, Va. – Howard Pitkin, Administrator of Depository Institutions for the Connecticut Department of Banking, was appointed to the NASCUS Regulator Board by NASCUS Chairman Roger Little, director of the Michigan Credit Union Division. Pitkin fills the seat vacated by John Woodward who retired in December from the Pennsylvania Department of Banking. In accepting the appointment to the board, Pitkin said while the credit union industry faces more urgent issues now than ever before, “the one thing I am especially sensitive to is keeping state charters at parity with federal charters.” Regarding bank trade groups’ recent legal challenges against credit unions, he remarked that he is “hopeful that our position on field-of-membership will be upheld both at the state and federal level. We must be patient and allow the courts to do their job.”
The equity distribution was the second since the Temporary Corporate Credit Union Stabilization Fund was merged with the SIF.
The drop suggests the housing market is still struggling as buyers strain to find affordable options.
PSCU also announced that almost 50% of its employees completed training on the significance of the credit union movement.
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