NEW ORLEANS and BATON ROUGE, La. — NCUA Chairman JoAnn Johnson visited last month with credit unions in Louisiana still recovering from the blow they were dealt by Hurricane Katrina.

“Even though more than a year has passed since Katrina devastated this area, the visible impact of the storm is still unimaginable,” she said. “Despite the great task of recovery that lies ahead, the spirit of the community is truly inspiring. Nowhere is the heroic and courageous spirit more evident than in the credit union community affected by the storm.”

Johnson toured the hurricane-damaged areas of the New Orleans metropolitan area, while visiting with officials from St. Bernard Parish School Board Employees Federal Credit Union and Barbers & Cosmetologists Credit Union. Louisiana Credit Union League CEO Anne Cochran guided the 80-mile trek.

At the invitation of John Milazzo, president/CEO of Campus Federal Credit Union, Johnson also participated in a graduation ceremony for a financial literacy school sponsored by the credit union in cooperation with Louisiana State University. Campus FCU met nearly a year ago with LSU's human resources department to discuss offering financial literacy classes to employees. The graduation ceremony honored 18 individuals who completed the course, ranging from savings and investing to reviewing a credit report to homeownership. Johnson met with local credit union officials and volunteers at a dinner hosted by Campus FCU after the ceremony.

“This financial literacy school is an excellent example of how America's credit unions display innovation in the vital task of educating their communities to make sound financial decisions,” Johnson observed.

Chairman Johnson concluded her visit to Louisiana by meeting with New Orleans credit union officials and volunteers at a luncheon hosted by the Louisiana league.

Instant Insights /

Johnson Studies Katrina Recovery Effort, Attends Financial Literacy Graduation

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