This past year was one bursting with challenges andaccomplishments for CUNA. But, as poet Anne Ridler noted, “to marktime is not to move.” Accomplishments in 2005 merely set the stagefor achieving more in the year to come – and that's the directionthat CUNA is already taking. Here's a rundown of some of the moresignificant accomplishments of the nation's largest trade group forcredit unions – and where we think these accomplishments will takeCUNA in the new year: * Rang the tax bell: A full four weeks beforethe House Ways and Means Committee hearing on the credit union taxexemption – and more than three weeks before the committeeofficially announced the hearing's existence – CUNA began notifyingits leadership, the leagues, large credit unions and others, thatsuch an event was imminent. Within days, and working closely withleagues, credit union leaders from around the nation began arrivingin Washington to meet with their representatives – particularlythose on the Ways and Means Committee. Four weeks later, at thehearing, not a single committee member spoke in favor of taxingcredit unions. The no-tax stance and expressions of support voicedby many committee members reflected the tremendous grassrootsefforts engaged in by the leagues and credit unions after CUNA“rang the bell.” In 2006: A plain message from the Ways and Meanshearing was the credit union tax-exemption depends not only ontheir cooperative structure, but also on the mission of servingconsumers, especially (not exclusively) those of modest means.Chairman As credit unions and their federal regulator move forwardin meeting this challenge, it is incumbent on us to work togetherin fashioning a proposal that is acceptable not only to Congressbut the movement at large. * Established R.E.S.C.U.: Hours afterthe winds of Hurricane Katrina blew themselves out, it was obvious:The job of bringing credit unions devastated by the storm back online would be one of massive coordination among the three-tiersystem of CUNA, the leagues and credit unions. Within two days ofthe hurricane, CUNA coordinated daily teleconferences among theleagues in cyclone-devastated states. Soon, CUNA was leading alarger coordinating effort among leagues, other system players andcredit unions. To bring all efforts under one umbrella, CUNAestablished the “Relief Effort and Support for Credit Unions”(R.E.S.C.U.) to focus energies, while also instilling efficienciesinto the relief. In 2006: The need for a disaster responseplan/program for the entire movement became apparent in the storms'wakes. Scott Earl, CUNA director of disaster recovery andpreparedness, is working with Leagues and credit unions to developsuch a program for consideration late next year – a mighty steptoward preparing for disasters sure to come in the future. *Launched HLPR: There is already much credit unions do to servemembers of modest means. Low-cost check cashing, low-rate paydayloans, no-surcharge ATMs, financial literacy programs – one, someor all of these programs are offered by many credit unions.However, there is no uniform program for credit unions measuringresults. Considering that, CUNA worked with CEOs of large creditunions to develop the Home Loan Payment Relief (HLPR) program, abelow-market-rate mortgage loan for borrowers with householdincomes at or below the median in their markets with “no gimmicks”(that is, credit unions do not make up for the lower rate withhigher fees, points or other devices). In 2006: More than 80 creditunions have signed on to the program, committing $1 billion inloans. Over the next two years, we hope and expect that number torise, and the loan commitment to jump to the multi-billion range –all in an effort to extend more credit union service to modestmeans members, and to better focus attention on the things creditunions do. * Adopted conversion principles: Facing a growingtempest over conversions to mutual savings banks, the CUNA board ofdirectors established a leadership role on the issue. The eightprinciples adopted by the board (focusing on the ownership rightsof members, particularly the net worth of the credit union) wereaccompanied by a significant set of directives for CUNA staff topursue. Overall, the CUNA board's goal in setting the principlesand the directives is to make it abundantly obvious that conversionis a decision that must be driven by a credit union's members,based on what is best for the members. In 2006: CUNA is nowpursuing the directives of the board, including: Establishment of acomment period for members before conversion ballots aredistributed; enhancement of disclosures; and seeking methods toeliminate or block unjust enrichment in conversions. *Counterpunched bankers: For many years, bankers have acted as if itis their sole right to challenge credit unions. CUNA has neveraccepted that status quo, and took action to let the bankers knowpugilism is a sport for two. When Zions BanCorp of Salt Lake City(whose CEO, Harris Simmons, is chairman of the American BankersAssociation) sought a merger with Amegy BanCorp of Texas, CUNAfiled with the Federal Reserve in objection. Among other things,CUNA cited a lessening of competition should the merger proceed.The Fed granted the merger despite CUNA's objections – but theaction captured the attention in the financial services industry.As the headline on the front page of the American Banker stated:“CUNA Opens A New Front vs. Simmons.” In 2006: Letting the bankersknow credit unions won't roll over is vital to our protection. CUNAwill continue to seek every opportunity to let the banks know theirjabs at credit unions will not go undefended – or unreturned.Certainly there were many more accomplishments during the year.Enactment of bankruptcy reform, 100-plus co-sponsors for CURIA,approval of Reg Relief by House Financial Services, CUNA named oneof the “most effective” groups on Capitol Hill by a poll of therespected National Journal magazine are just a few more. But thatwas in 2005. At CUNA, we have taken Ridler's admonition to heart,and are not sitting still as 2006 gets underway.