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A BILL TO PROVIDE INSURANCE FOR MEMBER ACCOUNTS IN
STATE AND FEDERALLY CHARTERED CREDIT UNIONS, AND

FOR OTHER PURPOSES

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Printed for the use of the Committee on Banking and Currency

U.S. GOVERNMENT PRINTING OFFICE

WASHINGTON : 1970

COMMITTEE ON BANKING AND CURRENCY

JOHN SPARKMAN, Alabama, Chairman WILLIAM PROXMIRE, Wisconsin

WALLACE F. BENNETT, Utah HARRISON A. WILLIAMS, JR., New Jersey JOHN G. TOWER, Texas EDMUND S. MU'SKIE, Maine

EDWARD W. BROOKE, Massachusetts THOMAS J. MCINTYRE, New Hampshire CHARLES H, PERCY, Illinois WALTER F. MONDALE, Minnesota

CHARLES E. GOODELL, New York ERNEST F. HOLLINGS, South Carolina ROBERT W. PACKWOOD, Oregon HAROLD HUGHES, Iowa ALAN CRANSTON, California

DIDLEY L, O'NEAL, Jr., Staf Director and General Counsel

JOHN R. EVANS, Jinority State Director

SUBCOMMITTEE ON FINANCIAL INSTITUTIONS

WILLIAM PROXMIRE, Wisconsin. Chairman JOHN SPARKMAN, Alabama

WALLACE F. BENNETT, Utah HARRISON A. WILLIAMS, JR., New Jersey EDWARD W. BROOKE, Massachusetts EDMUND S. MUSKIE, Maine

CHARLES H. PERCY, Illinois THOMAS J. MCINTYRE, New Hampshire CHARLES E. GOODELL, New York WALTER F. VONDALE, Minnesota

KENNETH A. MCLEAN, Professional Staff Member

(II)

CONTENTS

Pago

20

80

CHRONOLOGICAL LIST OF WITNESSES

THURSDAY, JUNE 18

J. Deane Gannon, Acting Administrator, National Credit Union Admin-

istration..

Richard H. Grant, treasurer-manager, Pease Air Force Base Federal

Credit Union, Portsmouth, N.H.---

Benny L. Kass, Washington consultant, National Consumer Law Center -

FRIDAY, JUNE 19

R. C. Robertson, president, CUNA International, Inc., accompanied by
Wilfred MacKinnon, president, Credit Union National Association,

Inc., and J. Orrin Shipe, managing director, CUNA International and

Credit Union National Association..

Mack Rogers, president, National Association of Federal Credit Unions,

Los Angeles, Calif., accompanied by Mal Nestlerode, treasurer, NAFCU

and manager, Marquardt Employees Federal Credit Union · Lorena Cau-

sey Matthews, treasurer-manager, Y-12 Employees Federal Credit

Union, Oak Ridge, Tenn.: Kathryne Vachon, treasurer-manager,

Tropical Telco Federal Credit Union, Coral Gables, Fla.' and Ralph J.

Parchini, general manager, Pan American Federal Credit Union, New

York, NY

Jerry K. Anchors, chairman of credit committee and chairman of legisla-

tive committee, credit union board of directors, Lockheed Georgia

Employees' Federal Credit Union...

ALPHABETICAL LIST OF WITNESSES

Anchors, Jerry K., chairman, legislative committee, Lockheed Georgia

Federal Credit Union.

Gannon, J. Deane, Acting Administrator, National Credit Union Ad-

ministration

Grant, Richard H., treasurer-manager, Pease Air Force Base Federal

Credit Union.

Kass, Benny L., Washington consultant, National Consumer Law Center.

JacKinnon, Wilfred, president, Credit Union National Association, Inc.-

Jatthews, Lorena Causey, treasurer-manager, Y-12 Employees Federal

Credit Cnion, Oak Ridge, Tenn.

Setlerode, Mai, treasurer, National Association of Federal Credit Unions -

Parchini, Ralph J., general manager, Pan American Federal Credit Cnion,

New York, N.Y.

Robertson, R. C., president, CCNA International, Inc.

Rogers, Mack, president, National Association of Federal Credit Unions -

Shipe, J. Orrin, managing director, CUNA International and Credit Union

National Association...

Vachon, Kathryne, treasurer-manager, Tropical Telco Federal Credit

L'nion, Coral Gables, Fla...

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