Northwest Credit Union Leaders to Continue Service on Catalyst Board of Directors

Bill Before, a 23-year veteran of the management team at Spokane Teacher’s Credit Union (STCU) has won election to a three-year term on the board of directors for Catalyst Corporate Federal Credit Union. Rick Hein, president/CEO of OSU Federal Credit Union, continues his role as Treasurer of the board.

Before was appointed to the board in July 2012, when Catalyst expanded its board from nine to 11 members. He was re-elected earlier this month at the corporate’s Annual Meeting.

“I ran for the board of Catalyst Corporate because I feel strongly that the corporate system is a strategic alternative to getting services from a bank which can close correspondent relationships quickly,” said Before. “Even though some credit unions have moved most of their processes directly to the Federal Reserve, the Corporates can be useful for a daily LOC, investment and ALM services. As a board member, I’m interested in exploring how Corporates can “load balance” the demand for loans and deposits nationally between credit unions and act as the switch, especially given the uncertainty of FNMA and Freddie Mac, which most credit unions use now to sell mortgages as they approach policy limits for fixed rate first mortgages on their balance sheets,” he continued.

Catalyst and other corporate credit unions serve the nation’s 6,819 “natural person” credit unions, providing for their daily liquidity needs, check cashing and other financial services.

Kathy Garner, the Corporate’s CEO, also has Oregon roots and recently marked her one-year anniversary at the helm. It was a milestone year of accomplishments as Garner noted in a recent Anthem interview. Elected with Before to three-year terms are:

  • Syed Dinar, Texas Bay Area CU, Houston, Texas
  • Lin Hodges, Associated CU, Norcross, Ga.
  • John Papagno, Alive CU, Jacksonville, Fla.

Trevor Tokishi, from Valley Isle Community FCU in Kahului, Hawaii, has been elected to serve a one-year term. Hodges will serve as chairman. Other officers on the board this year are:

  • Rod Taylor, Barksdale FCU, Bossier City, La. (vice chairman)
  • Ayn Talley, Houston Police FCU, Houston, Texas (secretary)
  • Rick Hein, OSU FCU, Corvallis, Ore. (treasurer)

Handouts and a recording of Catalyst Corporate’s annual meeting, as well as copies of Catalyst Corporate’s 2012 annual report and audited financials, are available at catalystcorp.org/annualmtg.aspx.

 

Questions? Contact Lynn Heider: 503.350.2225, lheider@nwcua.org.

Posted in Around the NW, Business Solutions, Federal, Industry Insight, Strategic Link.