Chip Filson is a co-founder of Callahan & Associates and currently serves as the company’s chairman of the board or directors. A nationally recognized leader in the credit union industry, Chip is a frequent speaker and consultant for the credit union movement. He has more than a quarter century of experience in government, financial institutions, and business, and he co-founded Callahan & Associates in 1985. He’s held concurrent positions at the National Credit Union Administration (NCUA) as president of the Central Liquidity Facility (CLF) and director of the Office of Examinations. He 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 a master’s degree in management from Northwestern University’s Kellogg School in Chicago.
The credit unions on NCUA’s risk-based capital panel have an opportunity to make a difference for the cooperative system.
NCUA's listening session should be a wake-up call for credit unions. Why does the regulator want to follow an ineffective banking model when the cooperative approach has proven time and again to be superior?
Latest TCCUSF audit shows NCUA underestimated corporate credit unions' capital reserves by 6.4 Billion and the need for a thorough review of NCUA's stewardship.
RBC mandates a one-sided approach to financial soundness that requires credit unions to play only defense with no offense. No team wins that way.
NCUA has yet to provide a weighting for human error.
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