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Amidst Bad Times, McCormack Appeals for CUs to 'Shine'

HARRISBURG, Pa. -- The industry's enviable financial position amidst the economic gloom provides an ideal opportunity now for credit unions to "shine and grow," the president/CEO of the Pennsylvania Credit Union Association wrote Thursday in a candid "Letter to Members" message appearing on the trade group's Web site.

By Jim Rubenstein | Updated on March 14, 2008

HARRISBURG, Pa. — The industry’s enviable financial position amidst the economic gloom provides an ideal opportunity now for credit unions to “shine and grow,” the president/CEO of the Pennsylvania Credit Union Association wrote Thursday in a candid “Letter to Members” message appearing on the trade group’s Web site.

A spokesman for James McCormack, the PCU head, said the awareness “Letter” topping its regular “Life Is a Highway” e-mail newsletter, was meant to galvanize industry action in taking advantage of rare opportunities for CUs in Pennsylvania and elsewhere a to make a strong case of their willingness to help stressed borrowers on small business, consumer along with student and car loans.

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