What are NCUA's Former Board Members Up To?

Credit Union Times endeavored to get an update on what all former NCUA Board members are doing today. It wasn’t easy, some have passed away and others, including recent members Yolanda Wheat and Norm D’Amours were not interested in providing an update. Fortunately, we were able to track down six very important former board members. Here’s what they’re up to. Ed Callahan was sworn in Oct. 22, 1981 to a seat on the NCUA Board as well as its chairman. He resigned May 3, 1985. Callahan is perhaps best known from his days on the board as one who spearheaded the recapitalization of the National Credit Union Share Insurance Fund, which he said was not that popular at the time but has proven pretty successful. Callahan retired about a year and a half ago as president and CEO of Patelco Credit Union. He caused quite a stir in the credit union community when he helped take the multi-billion dollar credit union to private insurance via American Share Insurance, which he described as “a successful effort for the credit union.” He pointed out the credit union grew $400 million after the move. Callahan also previously started the consulting firm Callahan & Associates. Now he does some consulting and mentoring for credit union CEOs. He serves on a number of boards, including the National Credit Union Foundation and MEMBERS Trust. In his spare time, Callahan enjoys traveling with his extended family and has recently taken them to Ireland and Italy. Elizabeth Burkhart was sworn in as the first woman to serve on the NCUA Board July 22, 1982 to fill an unexpired term. She was re-sworn in to a full, six-year term Oct. 17, 1985 and served until 1990. She recalled that some of the bigger issues during her time on the board were expanding credit union powers and impact of the savings and loan crisis. Burkhart is currently retired in Maui where she spends her time in her citrus garden or in front of the television. After leaving NCUA, she was a finance administrator at Maui Community College for seven years and then temporarily at the University of Hawaii. Burkhart is still active on the Maui Chamber Music Festival Board. Roger Jepsen was sworn in October 17, 1985 as chairman of the NCUA Board to fill an unexpired term. He was given his own term Aug. 3, 1987, from which he resigned Nov. 23, 1993. During his time at NCUA, Jepsen said the ripple effect of the S&L crisis was still going on, but the National Credit Union Share Insurance Fund rose as the “shining star” of all the insurance funds. Some issues never change as the debate over private versus federal insurance and state versus federal charters occurred in his time on the board as well. Credit unions also came into the electronic age. At 75, Jepsen said he is now “trying to learn to retire.” He still does some consulting in intergovernmental relations, particularly dealing in Asia. He also keeps busy playing twice a week with the American Cribbage Association, swims four to five times a week, and does visitations at a local hospital through his church. He still sees some friends from the credit union community, like California Credit Union League President and CEO Dave Chatfield. “I’ve never lost touch with the credit union world and never will,” Jepsen said. Dave Chatfield was sworn in April 14, 1988 to unexpired term and exited the NCUA Board in December 1990 after crossing the administration on the merging of the NCUSIF with the Federal Deposit Insurance Corporation. Chatfield holds the top post of the California Credit Union League now. Immediately after leaving the NCUA board, Chatfield helped found the Filene Research Institute, where he served as its first executive director. He said he does not plan to work forever, but after a bout with prostate cancer a year ago, Chatfield said he has regained his energy and, at 64, has no plans to retire in the near future. For the time being, he is helping the league concentrate on developing their grassroots efforts and ramping up public understanding of the credit union difference. Dennis Dollar was sworn in October 15, 1997 to serve on the NCUA Board. He resigned April 30, 2004, after serving as acting chairman from Feb. 8, 2001 and chairman Sept. 13, 2001. During his time on the board, Dollar created the agency’s Access Across America initiative, designed to bring credit union service to more people of modest means. It has spawned the Partnering and Leadership Successes program as well as a financial education arm. He also established the Accountability in Management initiative to streamline agency functions within its headquarters and by cutting the regions from six to five. He also spearheaded the RegFlex regulation that allows well-managed, well-capitalized credit unions to avoid certain regulatory burdens. After leaving the NCUA Board at the end of April, Dollar began a consulting firm for credit unions with his former Executive Assistant Kirk Cuevas. The ink is barely dry from deals Dollar Associates has cut with Strunk & Associates and the Association of Corporate Credit Unions. Geoff Bacino was sworn in January 2, 2001 to a recess appointment, the term of which expired Dec. 31, 2001. His father had formerly served as NCUA’s executive director. Bacino first went to work for Counter Intelligence Associates after leaving the NCUA Board. Earlier this year, he became executive vice president of legislative affairs for Centrix Financial. Bacino’s best-known initiative at the agency was arguably the introduction of the interim final rule to remove the Community Action Plan. It passed 2-1 after three hours of debate with CAP proponent then-NCUA Board Member Yolanda Wheat during his last month on the board. [email protected]