Sen. Greenleaf Receives Keystone Award Work on Behalf of Financial Cooperatives Earns Senator Pennsylvania Credit Union Association’s Highest Award

HARRISBURG – Pennsylvania State Senator Stewart J. Greenleaf has received the 2003 Keystone Award from the Pennsylvania Credit Union Association (PCUA). The presentation took place recently at the Association’s 69th Annual Convention and Expo held at the Philadelphia Marriott Downtown.

“Senator Greenleaf’s outstanding leadership on behalf of credit unions resulted in the most comprehensive update of the Pennsylvania Credit Union law since it was enacted in 1934,” said PCUA President/CEO Jim McCormack. “This legislation will enable our 81 state-chartered credit unions to better serve 750,000 Pennsylvania consumers, who rely on their credit union to provide them with modern financial services.”

The Pennsylvania Credit Union Association presented the award to Senator Greenleaf for his work as prime sponsor of Senate Bill 1222, the State Credit Union Parity Bill. The new law (Act 207 of 2002) provides state-chartered credit unions with the ability to petition the Pennsylvania Secretary of Banking for similar powers and activities, field of membership, and credit union service organization (CUSO) participation as a federally-chartered credit union. It also provides the Department of Banking with additional powers that will enable it to ensure the safety and soundness of Pennsylvania credit unions.

Senator Stewart Greenleaf was elected to the Pennsylvania Senate in 1978.  He represents the 12th Senatorial District, which includes parts of Bucks and Montgomery Counties.   

Each year the Association recognizes an individual or organization with the Keystone Award that has made a particularly significant contribution towards the advancement of the credit union movement in Pennsylvania.

Credit unions are non-profit financial cooperatives that provide affordable financial services to help their owner/members.  The Pennsylvania Credit Union Association, based in Harrisburg, provides legislative, professional development and operational support or services for the more than 700 credit unions in Pennsylvania. These credit unions have assets in excess of $18 billion and serve nearly three and a half million members.