The following is an edited version of remarks by NCUA Chairman Edgar F. Callahan and General Counsel Wendell Sebastian from two talks to credit union managers and to the credit union press. They discuss the capitalization plan and what credit unions have to do to make this new insurance system work.

We have entered an era in which nearly any American can join a credit union. This new paradigm is going to affect us in new ways. The movement may move toward vast networks of ATMs and shared branches, toward an all-electronic model similar to ING Direct’s, to partnering with nationally-oriented organizations such as AAA, or in ways we have not yet imagined.

We have entered an era in which nearly anyone can join a credit union, says Ed Callahan and Bucky Sebastian. This new paradigm is going to affect us in ways we have not yet imagined.

As National Credit Union Week begins, Ed Callahan and Bucky Sebastian challenge all to consider how we can restore passion and re-illuminate our uniqueness.

According to Ed Callahan and Bucky Sebastian, the future share and direction of the credit union industry may lie in the hands of mid-sized credit union CEOs.

Ed Callahan and Bucky Sebastian discuss that struggling credit unions should seek merger partners sooner rather than later so that members are not lost to the movement nor resources wasted.

Ed Callahan and Bucky Sebastian explore effective branching strategies and reevaluate the fundamental concept of a branch.

From ING Direct publicity stunts to the Cherry Blossom Run, Ed Callahan and Bucky Sebastian discuss the importance and power of generating public awareness.

In part two of his article on the proposed merger of Patelco, First Tech and Seattle Telco in 1994, Ed Callahan discusses the intensifying competition brought about by huge leaps in technology.

Ed Callahan advocates the need for product and service offerings catered to post-employed members. If done well, older, loyal members will guide young people to the credit union credo.