WASHINGTON – Treasury Secretary John Snow planned to visit Des Moines, Iowa Aug. 20 for the revealing of the new “Keelboat Nickel” at the Iowa State Fair. Senator Chuck Grassley (R-Iowa) will join him at the presentation. A native Iowan, who happens to be visiting her home state right now, NCUA Chairman JoAnn Johnson said she was going to try to attend the event as well. She recently had oral surgery and was unsure if she would be able to make it. The “Keelboat Nickel” is the second in the U.S. Mint’s Westward Journey Nickel series commemorating Lewis and Clark’s expedition and the Louisiana Purchase. Children attending the event will be receiving new nickels while adults may purchase them at face value. During the trip to Iowa, Snow will talk up the administration’s efforts to control health care costs, reduce frivolous lawsuits and create an energy policy. The Treasury Secretary will note that unemployment declined to 5.5% in July, the lowest rate since October 2001; it is also below the average of the `70s, `80s, and `90s. This should be good news for credit unions that have been starved for lending over the last couple years.

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