NCUF Board Elects Allan Kemp McMorris Chairman, Gary Oakland Vice Chairman

Chairman: Allan Kemp McMorris

Allan Kemp McMorrisAllan Kemp McMorris
President & CEO
Oakland County Credit Union
Waterford, Michigan

The National Credit Union Foundation (NCUF) Board of Directors has unanimously elected Allan Kemp McMorris as its new Chairman.

In his acceptance speech at NCUF’s 2008 Annual Meeting, McMorris marveled at how the Foundation has evolved since the Community Investment Fund was created in 1999.

“We’ve seen phenomenal growth in grant dollars – from less than $200,000 to more than $6 million. We’re making a widespread impact on our industry – with Foundation programs and grants reaching all 50 states, thousands of credit unions, and millions of members.”

At the same time, McMorris observed, “The Foundation board has expanded and grown more diverse, representing all sectors of the credit union community.” The NCUF Board includes natural-person credit unions from all asset ranges, corporate credit unions, state credit union foundations, state credit union leagues, and national credit union support organizations. McMorris’ credit union has over $130 million in assets and 21,000 members.

McMorris is an outspoken advocate of credit union membership growth and youth financial education – key goals of the two largest programs receiving NCUF funding: REAL Solutions™ and Biz Kid$.

For the past year, McMorris has served as chairman of the Credit Union National Association (CUNA). He will step down as CUNA chairman on March 3, 2008.

As chairman of CUNA, McMorris took action to help credit unions increase membership and financial literacy. Citing average annual membership growth of only 1.9% since the year 2000, McMorris created CUNA’s Membership Growth Task Force. He focused on ways to attract “Generation Y” – young consumers who typically use three different financial providers. “Our challenge is to make sure credit unions are among their choices, become their primary financial institution, and help them benefit from financial literacy," McMorris explained.

McMorris noted that while NCUF and CUNA are separate organizations with different boards, they share common goals of strengthening credit unions and empowering consumers. “Our two organizations succeed together!” McMorris concluded.

Other officers elected at NCUF’s annual meeting:

Vice Chairman: Gary Oakland

Gary OaklandGary Oakland
President & CEO
Seattle, Washington

Oakland represents investors in the Callahan Fund, a sub-fund of the Community Investment Fund that provides NCUF’s underwriting support for Biz Kid$.

Oakland will chair NCUF’s Fundraising Committee.

Board Secretary: Francois Henriquez

Francois HenriquezFrancois Henriquez
Senior Vice President & General Counsel
US Central
Lenexa, Kansas

Henriquez will continue to chair NCUF’s Grants Committee.

The Grants Committee received support from the NCUF Board to maintain its grant-making commitments for 2008. These commitments include up to $600,000 for Innovation Grants.

Treasurer: Dennis DeGroodt

Dennis DeGroodtDennis DeGroodt
President & CEO
Missouri Corporate Credit Union
St. Louis, Missouri

DeGroodt will continue to chair NCUF’s Finance Committee.

The Finance Committee reported a $1 million increase in NCUF’s net assets for 2007. Those assets were placed into reserves in anticipation of a net loss in 2008 due to falling interest rates.
After the NCUF Board meeting, McMorris presented awards to NCUF’s two most recent chairs:

Immediate Past Chairmen

Mary Cunningham & Chuck PurvisMary Cunningham
President & CEO
USA Federal Credit Union
San Diego, California

Cunningham directed the adoption of REAL Solutions™ and Credit Union Development Education as programs not only funded by NCUF, but also run by NCUF. Cunningham will continue to serve on the NCUF Board in a non-voting capacity as Immediate Past Chairman.

Chuck Purvis
Senior Vice President
Coastal Federal Credit Union
Raleigh, North Carolina

Purvis directed the creation of the Community Investment Fund, which will celebrate its 10th Anniversary in 2009. Purvis has now rotated off the NCUF Board, but he plans to remain engaged by participating in NCUF programs.