NCUA Chairman Ed Callahan spoke to CUNA’s GAC conference in Washington DC on February 8, 1984.
He urged his listeners to support the most vital change in the system since the passage of the FCU Act in 1934.
His title was Finish the Job. He challenged credit unions to strengthen their NCUSIF insurance fund by backing legislation redesigning it using cooperative principles.
The talk is 11 minutes. Ed provides an update on the state of the credit union system in one word, “fantastic.” He puts the current situation in the context of 75 years of credit union history. He describes how deregulation is meeting the needs of the country’s changing economy.
An Advocate for Credit Unions
His closing is a call to support a Better Way for the NCUSIF. He asks credit unions to compare the cost savings under the 1% solution to the current two premium model. And then to champion the change in a bill introduced by Senator Jake Garn.
The recording is from a cassette of the live speech with the video overlays added later.
(https://www.youtube.com/watch?v=1UcXPyUMtic)
This is an example of the profound change possible for credit unions when all parties work together to benefit members.