UNCUA ХХVІІ Annual Meeting
Cooperation among Cooperatives
in Support of the Ukrainian Community
The Ukrainian American credit union movement in the
States has been growing strong for over half a century, providing
wealth-building services to its members and assisting in the growth of
Ukrainian community organizations. Since 1957 the credit unions have
been working together to enhance their activities.
The Ukrainian National Credit Union Association (UNCUA) held its
Annual Meeting June 5-7, 2008 in
New Jersey. Some 50 representatives of 14 Ukrainian
credit unions gathered to discuss issues facing the credit unions,
plans for future development and to elect a new board of directors.
activities included a round table discussion on the current status and
future prospects for development of Ukrainian credit unions in the
US. The discussion was moderated by
chair, SUMA-Yonkers FCU), with the assistance of Jaroslaw Fedun (BOD
chair, Selfreliance-New Jersey) and Orest Liscynesky (CEO,
Cleveland). The day concluded with a reception for conference attendees.
two began with a welcome by Mary Kolodij (BOD chair,
Selfreliance-Philadelphia), whose credit union hosted this year’s
Bohdan Watral, UNCUA BOD chair (CEO, Selfreliance-Chicago) introduced the panel of presenters, and
Kekish, chairman of the World Council of Ukrainian Cooperatives (BOD
chair, Selfreliance-NY) reminded participants that the IX Conference of
WCUC would be held August 20th in
Paul Gentile, President/CEO of the New Jersey Credit Union League
greeted the Ukrainian credit union leaders attending the conference and
congratulated them on their achievements. Victor Nikitiuk, Deputy Chief
Mission of the
Embassy of Ukraine in the
United States thanked UNCUA for its continued involvement with and support of the growing credit union movement in
Presentations on topics of interest to the credit union leaders followed.
Bob Hoel, PhD and Filene Fellow, a leader of the Filene Research Institute in
spoke to the topic: “What your members and potential members really
want.” He identified the various issues being discussed by fellows of
the institute and their findings on the most effective means of growing
credit union membership, especially various methods of attracting young
professionals to credit unions.
McKechnie of the National Credit Union Administration (NCUA) addressed
the topic of “How credit unions are faring during the mortgage and
credit crisis” and spoke of NCUA activities on Capitol Hill. He
emphasized the need for credit union leaders to maintain close ties
with their local government representatives, to increase awareness of
the credit union advantage.
Peter Duffy of Sandler O’Neill (NY) spoke on the current economic situation in the
US and its affect on credit unions and conducted an exercise with attendees, proposing a model for future growth in Ukrainian
American credit unions.
Kats, Esq., a candidate to the US Senate from the state of Pennsylvania
and a member of the Ukrainian “fourth wave” of immigrants, informed
participants of her belief that as a member of the US Senate she
will be able to act as an advocate for Ukrainian American credit unions and for strengthening US ties with Ukraine.
Kenneth Otsuka of CUNA Mutual engaged the audience in a
of crisis management within credit unions, initiated by his
presentation on the “New RED Flag Rules & Regulations – FACT Act
Provisions for 2008.”
Ronald Koza of Members United FCU spoke on the financial situation of credit unions in the
US and provided an economic overview of future growth.
Klewin of CUNA Mutual stressed the need for credit unions to attract
the youth of “Generation Y” as members, to ensure their future
existence and growth.
Goldberg of CUNA Mutual conducted a wrap-up exercise for the credit
union leaders, encouraging them to think ahead and to plan for
conducted its annual general meeting of membership on Saturday, with
reports by outgoing board members and election of new representatives
to leadership positions. UNCUA Board chair
Watral and President Orysia Burdiak reported on the current status of
UNCUA. As of December 31, 2007, assets of the seventeen UNCUA member
credit unions totaled $2.146 billion, with reserves and undivided
earnings totaling $344 million. Member deposits totaled $1.777 billion,
with $1.360 billion total loans issued in 2007. 107,566 individuals are
members of Ukrainian American credit unions in the
Ukrainian American credit unions contributed over $3 million in support
of community organizations, once again emphasizing the tremendous
impact of credit union membership on the development of our communities.
The following individuals were elected to the Board of Directors of UNCUA for the 2008-09 year.
Chair (Selfreliance, Chicago); Stephen Kerda - Vice Chair
(Selfreliance, Baltimore); L. Mykola Hryhorczuk - Vice Chair
(Selfreliance, Michigan); and Olga Jakubowska – Secretary
(Selfreliance, Philadelphia). Executive Committee members: Serhiy
Hoshovsky (Ukrainian National, NY);
Kozicky (SUMA Yonkers, NY); Bohdan Kurczak (Selfreliance, NY); and
Honorary Member Bohdan Kekish (Selfreliance, NY). Members of the Board
Burscu, Bohdan Czepak, Tamara Denysenko, Andrew Diakun, Jaroslaw Fedun,
Andrew Jakymowych, Raymond Komichak, Yuri Pedenko and George Stachiw.
Andrew Jakymowych (Future CU,
MI); Oleh Karawan (Selfreliance Chicago) and Bohdan Sawycky (
Jaroslaw Fedun (
NJ); Olga Jakubowska (Selfreliance Philadelphia); Wolodymyr Pylyshenko (Ukrainian CU,
NY); George Stachiw (Selfreliance, New England); Lubomyr Zielyk (
NY) and Orest Liscynesky (alternate, Selfreliance
Orest Liscynesky (Selfreliance
Cleveland); Bohdan Kekish (
NY) and Lubomyr Lypeckyj (Selfreliance, Warren MI).
Protection and Life Savings Insurance Trustees: Orysia Burdiak, Stephen
Kerda, Mary Kolodij, Bohdan Kurczak, Ihor Laszok, John Olijarczyk and
Burdiak was elected President of UNCUA. Staff members of the UNCUA
office also include Christine Pylypowycz and Nina Bebko.
The new Board of UNCUA will hold its next quarterly meeting and strategic planning session in
NJ. Members also proposed that the next UNCUA annual meeting be held in
The annual meeting and conference of UNCUA concluded with a meeting of the new Board of Directors. CEO
Watral sent the delegates on their way home with best wishes for the
further growth and prosperity of Ukrainian American credit unions in