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Hyland Announces Symposium to Honor Federal Credit Union Act 75th Anniversary  

June 26, 2008, Alexandria, VA – NCUA Board Member Gigi Hyland announced today she will facilitate a symposium next June in recognition of the 75th Anniversary of the Federal Credit Union Act. The Federal Credit Union Act was signed into law by President Franklin D. Roosevelt on June 26, 1934. The symposium will be one in a series of commemorative efforts the agency will undertake to highlight the landmark anniversary.

“This symposium offers an opportunity to celebrate 75 years of dynamic federal credit union history in this country as well as a forum to discuss the future of  federal credit unions in the 21st century,” noted Board Member Hyland

The two-day symposium will be held in Washington, D.C., in early June 2009 and will focus on:

1. the current financial marketplace;
2. the importance of federal deposit insurance;
3. opportunities for credit unions to serve all segments of their field of membership;
4. opportunities for modernization of the Federal Credit Union Act.

“The purpose of this effort is to bring together a wide variety of representatives from all sectors of the credit union industry, as well as other interested parties, to hold a wide-ranging and frank discussion to determine whether there is a consensus on the vision for credit unions for the next several decades and beyond,” noted Board Member Hyland. Additional details regarding the symposium will be forthcoming later this year.

The National Credit Union Administration charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates and manages the National Credit Union Share Insurance Fund, insuring the accounts of nearly 87 million account holders in all federal credit unions and the majority of state-chartered credit unions. NCUA is funded by credit unions, not federal tax dollars.

-NCUA-