Utah credit union regulator Orla Beth Peck has become chairman of NASCUS and Community First Credit Union President/CEO Cathie Tierney became chairman of the group's Credit Union Advisory Council.

The two-year terms for Peck and Tierney started during the group's annual meeting, which began Wednesday in Chicago.

Peck has worked for the Utah Department of Financial Institutions since 1981 and been the top credit union regulator since 1992.

Tierney has worked for Community First CU in Appleton, Wis., since 1976 and been its president/CEO since 1994. The $1.5 billion credit union has 88,000 members. She received national attention for leading the fight and for her law firm's successful lawsuit against the IRS that affirmed that several financial products it sold weren't subject to the Unrelated Business Income Tax.

At the meeting, NASCUS also awarded the Pierre Jay Award for lifetime achievement to former NASCUS Chairman Roger Little, the recently retired Michigan credit union regulator.

The award is named after Pierre Jay, the first banking commissioner of Massachusetts (1906-1909) who, together with Edward Filene helped establish the credit union movement.