Business View Magazine | October 2020

72 BUSINESS VIEW MAGAZINE OCTOBER 2020 changes and eventually become the New York Credit Union Association, was born. “In the early days, the Association was certainly not as sophisticated or coordinated as it is today,” said Ann Hynes, NYCUA chairwoman and CEO of SPX Federal Credit Union in Rochester. “But those early credit union pioneers deserve tremendous praise for having the foresight to know that the New York credit union movement would become a powerful statewide force with a need for consistent and centralized advocacy.” The Association, built on the same cooperative spirit that gave rise to credit unions, helped oversee a number of landmark legislative changes that would pave the way for today’s credit union movement. New York’s credit unions played a key role in the Federal Credit Union Act of 1934 and the Credit Union Membership Access Act of 1998, as well as the state’s own credit union law. The legislative and regulatory advocacy helped grow the number of credit unions nationally to an all-time high of nearly NYCUA chairwoman and CEO of SPX Federal Credit Union, Ann Hynes