The Kansas Credit Union Association is joining some of its peers this month on a dues reduction to aid members hit by the NCUA assessment.
The announcement of a 10% dues rebate, as approved by the KCUA Board, was made during the group's annual meeting April 25 in Topeka.
The KCUA said the dues rebate would "mitigate the financial impact to Kansas credit unions" resulting from the NCUA's conservatorship of U.S. Central and WesCorp.
"Although Kansas credit unions have seen an increase in deposit and loan growth as consumers looked for a trusted financial partner, credit unions now face challenges arising from an economic crisis they did not create," commented K. Erich Schaefer, outgoing KCUA chairman. "We want to help support each Kansas credit union's efforts to meet member needs during these trying times."
Also at the annual meeting, Larry Damm, manager of Cessna Employees CU, Wichita, was elected chairman for 2009-10 and Don Homan, director of Frontier Community CU, Fort Leavenworth, was elected vice chairman. Schaefer, who also is president of Golden Plains CU, was elected secretary-treasurer.
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