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Chip Filson is a co-founder of Callahan & Associates and currently serves as the company’s Chairman of the Board. A nationally recognized leader in the credit union industry, Chip is an astute author, frequent speaker and consultant for the credit union movement. He has more than 40 years of experience in government, financial institutions, and business. Chip’s breadth of experience makes him an authority on a wide range of topics, including analysis of credit union trends, credit union public and market-facing opportunities, and strategies for enhancing member value. Chip’s contributions to the cooperative movement have been demonstrated with his analysis and advocacy for the corporate credit union system, NCUA’s Corporate Stabilization role, and the need for regulatory reform.
He is an avid believer that cooperative principles are a key to credit union success and founded Coops4Change (www.coops4changes.org) to reestablish cooperative principles as the foundation for the credit union regulatory system. Chip has held concurrent positions at the National Credit Union Administration (NCUA) as president of the Central Liquidity Facility (CLF) and Director of the Office of Programs, which includes the NCUSIF and the examination process.
Chip holds a magna cum laude undergraduate degree in government from Harvard University. After being awarded a Rhodes Scholarship, he earned a master’s degree in politics, philosophy, and economics from Oxford University in England. He also holds an MBA in management from Northwestern University’s Kellogg School in Chicago.
Some mergers now appear to be little more than bank-like takeovers, without the transparency.
Merging the corporate credit union fund with the share insurance fund is an idea worth considering.
When member-owned financial cooperatives are sold in a merger that is really a fire sale, the benefit goes to the buyers, the selling board, and senior managers at the members’ expense.
There is an alternative approach to self-dealing credit union mergers that corrupt the ideals of member-owned financial cooperatives.
More than $8 billion of credit union money is tied up in and around the regulator’s bailout of the corporates, but little else is really known.
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