WASHINGTON — CU pioneer Chip Filson is organizing a new initiative on alternative capital for credit unions.
Filson, currently president of the Callahan & Associates credit union consultancy and former state and federal credit union supervisor, will join Jim Blaine, CEO of the $15.9 billion State Employees' Credit Union and long time alternative capital advocate, and Diana Dykstra, CEO of the $501 million San Francisco Fire Credit Union, in an August 13 Web event to discuss and launch the initiative.
Blaine explained that the issue, which has been percolating on the back burner for years, has come to the front as credit unions have struggled to cope with the faltering economy.
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"We are not the only financial institutions doing this," Blaine said. "Banks and thrifts and other financial institutions are busy as beavers raising additional capital for the problems they know they have or what might be coming. Credit unions are the only ones who are asked to go into this fight with our hands tied behind our back."
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