News Release

Contact: Public Relations Coordinator
(800) 342-9835, ext. 8130

(September 27 - Latham, NY) – Representatives from the New York State Credit Union League and New York state-chartered credit unions recently met with the New York State Banking Department and its newly appointed superintendent, Richard Neiman, in New York City to talk about regulatory and legislatives issues.

As superintendent, Neiman serves as chairman and executive head of the New York State Banking Board, which helps shape New York State’s banking policy. The gathering was the first opportunity credit unions have had to meet with him since he was nominated by Gov. Eliot Spitzer last February and subsequently approved by the New York State Senate.

Throughout the meeting, Neiman listened attentively to the groups’ agenda showing a sincere interest in and a familiarity with credit unions and the credit union movement. He expressed his desire and commitment to make a difference for credit unions moving forward.

One of Neiman’s primary goals is developing a competitive state charter. He inquired about the current number of state-chartered credit unions in New York, the operational distinctions between state-chartered and federally chartered credit unions, and the steps necessary to increase the number of state-chartered credit unions.

Neiman understood that preservation of the state charter is crucial for New York credit unions, and believes strongly in its viability.

In addition to the state charter, Neiman has other items on his agenda that go hand-in-hand with what credit unions in New York State seek to achieve, including economic development, the banking development district program, serving the underserved and protecting consumer rights.

Neiman and his staff recognized that the new "Wild Card" powers could potentially help achieve that goal and expressed their desire to ensure those powers are utilized to the fullest.

"In all the years I’ve been meeting with individuals in Neiman’s position, this was one of the most positive opportunities I’ve had to engage in dialogue with someone who truly understands what credit unions are all about," said William J. Mellin, the League’s president/CEO. "He is open to what the League is trying to accomplish, from a regulatory and legislative standpoint, and we should feel optimistic about the future of our movement with Neiman at the helm."

The New York State Credit Union League (NYSCUL) has served as the trade association for the state’s credit unions for 90 years. It is the fifth largest league in the country. New York credit unions have assets of more than $37 billion and more than 4.1 million members. To learn more about the League, visit www.nyscul.org.

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New York State Credit Union League, Inc. & Affiliates
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