WASHINGTON-In the waning days of his term, representatives from NAFCU met with Federal Reserve Chairman Alan Greenspan to honor him with a framed resolution thanking him for his service and openness to credit union issues. “Chairman Greenspan was very kind in terms of meeting with our board,” NAFCU Chief Economist Tun Wai explained. “We wanted to formally present to him a `thank you.’” Greenspan met Jan. 12 with NAFCU President and CEO Fred Becker; Chairman Mike Vadala, CEO of The Summit Federal Credit Union, as well as Leanne McGuinness of The Summit; NAFCU Board Member and Aberdeen Proving Ground Chairman Dave Gilbert; and NAFCU Board Member Brian McDonnell, Navy Federal Credit Union treasurer and retired CEO, as well as select senior NAFCU staff. Wai added that NAFCU was very fortunate to even get in to see him during his last weeks at the head of the Fed. “I’ll tell you the [American Bankers Association] hasn’t gotten that chance,” he said with a laugh. After 19 years as Fed chairman, Greenspan’s term will expire at the end of the month. Former Fed Governor and Chairman of the Council of Economic Advisors Ben Bernanke is slated for a confirmation hearing for the top spot Jan. 31, the same day as the next Federal Open Market Committee meeting. NAFCU is already in the process of arranging their next annual meeting with the Fed in December, hoping to meet with Bernanke. “We know him very well,” Wai said. He noted that Bernanke spoke at NAFCU’s Congressional Caucus one year and has hosted NAFCU’s annual meeting at the Fed before. “I fully expect him to maintain the kinds of relationships that he had as a governor,” Wai forecast. [email protected]

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.