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CREDIT UNION MISSION
The mission of a credit union is to provide and promote the use of a variety of financial services which feature particular benefits and advantages over those generally available from other banking sources, with specific intent of helping members gain some particular measure of personal financial success.
WHAT IS A CREDIT UNION?
A credit union is a not-for-profit cooperative which serves a defined group of members and exists for the sole purpose of delivering quality financial services to its members.
HOW DOES THE CACL FEDERAL CREDIT UNION OPERATE?
CACL, which was chartered in 1953, operates as a member-owned cooperative financial institution. Governed under stringent federal rules and regulations, CACL is supervised and insured by the National Credit Union Administration (NCUA), a federal agency of the United States Government. After operating expenses and funding reserve requirements, the members directly benefit from the earned profits via higher dividends and increased member services.
BOARD OF DIRECTORS
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Daniel E. Mulroy, Chairman
Ronald A. Mercuri, Vice Chairman
John A. Brennan, Treasurer & Secretary
Edward J. Clark, Director
James T. Kramer, Director
Robert J. MacCready, Director
John E. Quirk, Director
SUPERVISORY COMMITTEE
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Joseph J. Devine, Chairman
James M. Dunkel
Jo A. Heffron
Michael J. Hozella
CREDIT UNION STAFF
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Michael T. Walser, CEO
Rae Ellen Gauntlett, Loans & Collection Manager
Karen A. Sabol, Loans & Collection Clerk
Carol A. McGovern, Head Teller
Valerie J. Tracey, New Account Rep / Teller
Samantha M. Barry, Teller
Jody M. Bowman, Teller
Rebecca L. Krammes, Teller
LEGISLATIVE UPDATE
When legislation or bankers' lawsuits attack any credit union, it's and attack on all credit unions. Your Credit Union proudly protects members' right to join and participate in their not-for-profit financial cooperative. Keep up to date on legislation or anti-credit union lawsuits through these links:
BENEFITS OF MEMBERSHIP
Founded on the basic democratic premise of the cooperative movement, credit unions believe that access to low-cost financial services is critical to the health and stability of ordinary citizens.
CREDIT UNION HISTORY
CACL Federal Credit Union was chartered on March 20, 1953 by the following original charter members:
CLAUDE E. ACKER
FORREST E. ACKER
ROBERT W. DELONG
DELBERT R. KRINER
FRANCIS M. REES
WILLIAM G. SCHLACHTER
WILFRED E. WACHTER
EDWARD N. WILLIAMS
SAFETY & SOUNDNESS
Credit unions primarily engage in consumer loans and residential real estate lending to their members. Credit union performance is at a historically high level. Currently, credit union capital nationwide is 10.28% and the equity ratio of the federal insurance fund, the National Credit Union Share Insurance Fund (NCUSIF), has operated above 1.25% for 11 consecutive years.
REGULATION & SUPERVISION
CACL Federal Credit Union was chartered under federal law. Federally chartered credit unions are regulated by the National Credit Union Administration (NCUA), an independent agency of the U.S. Government. NCUA's three board members are nominated by the President and confirmed by the Senate.
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