Edgar F, Callahan, who as chairman of NCUA, a credit union CEO and outside consultant was a key figure in the credit union movement, died today in Sacramento, California, he was 80.

Callahan, who chaired the NCUA from 1981-1985, was instrumental in persuading credit unions to capitalize the NCUSIF, which had seen its equity ratio fall below .30%, as a result of the recession of the early 1980s. He also introduced a revamping of the field of membership rules and created a merger policy that enabled credit unions to expand beyond weakening businesses.

After leaving the NCUA, he founded Callahan & Associates, a Washington, DC-based credit union consulting firm and became president/CEO of Patelco Credit Union in San Francisco. While at Patelco, the credit union converted to private insurance but since he left the credit union returned to being federally insured.