Ed Callahan
Encyclopedia
For the 19th-century baseball player, see Ed Callahan (baseball)
.
Edgar F. Callahan (March 23, 1929 – March 18, 2009) was an American
civil servant, who served as Chairman of the National Credit Union Administration
(NCUA) under President Ronald Reagan
from 1981 to 1985.
, Callahan graduated from Ursuline High School in 1946. He went on to play college football at Marquette University
in Milwaukee, Wisconsin
, where he received a bachelor's degree in mathematics in 1951 and a master's degree in educational administration in 1952.
From 1970 - 1975, Callahan was principal of Boylan Catholic High School
, and in 1971 he became the first superintendent of the Rockford Area Catholic Schools. Prior to this, Callahan served a variety of positions at Boylan, including the first athletic director, first head coach in football, basketball, and chair of the mathematics department.
In 1975, Callahan became the Assistant Secretary of State for Illinois under Secretary Michael Howlett
.
Immediately prior to his presidential appointment, Callahan served as director of the Illinois Department of Financial Institutions under Governor James R. Thompson
. As director, he was responsible for the supervision of 2,000 consumer finance companies, 1,200 currency exchanges, and 1,000 Illinois-chartered credit unions.
, which made him the highest-ranking credit union regulator in the country.
As chairman of the NCUA, Callahan was one of the president's key advisors on domestic economic policy. He is credited with guiding the credit union movement into deregulation, allowing it to take flight.
Callahan made three key decisions while at the helm of the NCUA: to deregulate saving and loan rates, to allow a credit union to serve multiple ‘groups’ with a common bond (which allowed membership in credit unions to grow exponentially since), and to challenge credit unions to capitalize their own share insurance fund. As a result of these decisions, many feel he single-handedly saved the U.S. credit union movement.
Callahan later became CEO of the San Francisco-based Patelco Credit Union
. Due in large part to Callahan's leadership, Patelco grew from a regional credit union with $280 million in assets to a national one with more than $2.8 billion when he retired in 2002. Today, Patelco is currently the 14th largest credit union in America, with $4.2 billion in assets.
, which is the highest national honor given in the credit union industry.
At Callahan's retirement party on October 19, 2002, it was announced that more than $100 million had been pledged in his honor by the nation's credit unions to a newly-created program, the Callahan Fund, at the National Credit Union Foundation
. Proceeds from the investments of the fund support grant requests in the areas of cooperative development and financial literacy.
, California
.
At his funeral on March 27, 2009, at the Cathedral of the Blessed Sacrament in Sacramento
, it was announced that the Edgar F. and Kathleen M. Callahan Memorial Fund has been established at Marquette University
in the honor of he and his late daughter, Kathleen.
Ed Callahan (baseball)
Edward Joseph Callahan was an American professional baseball outfielder and shortstop. He played for three different teams in the Union Association in 1884.-External links:...
.
Edgar F. Callahan (March 23, 1929 – March 18, 2009) was an American
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
civil servant, who served as Chairman of the National Credit Union Administration
National Credit Union Administration
The National Credit Union Administration is the United States independent federal agency that supervises and charters federal credit unions...
(NCUA) under President Ronald Reagan
Ronald Reagan
Ronald Wilson Reagan was the 40th President of the United States , the 33rd Governor of California and, prior to that, a radio, film and television actor....
from 1981 to 1985.
Early life and career
Born in Youngstown, OhioYoungstown, Ohio
Youngstown is a city in the U.S. state of Ohio and the county seat of Mahoning County; it also extends into Trumbull County. The municipality is situated on the Mahoning River, approximately southeast of Cleveland and northwest of Pittsburgh, Pennsylvania...
, Callahan graduated from Ursuline High School in 1946. He went on to play college football at Marquette University
Marquette University
Marquette University is a private, coeducational, Jesuit, Roman Catholic university located in Milwaukee, Wisconsin. Founded by the Society of Jesus in 1881, the school is one of 28 member institutions of the Association of Jesuit Colleges and Universities...
in Milwaukee, Wisconsin
Milwaukee, Wisconsin
Milwaukee is the largest city in the U.S. state of Wisconsin, the 28th most populous city in the United States and 39th most populous region in the United States. It is the county seat of Milwaukee County and is located on the southwestern shore of Lake Michigan. According to 2010 census data, the...
, where he received a bachelor's degree in mathematics in 1951 and a master's degree in educational administration in 1952.
From 1970 - 1975, Callahan was principal of Boylan Catholic High School
Boylan Catholic High School
Boylan Catholic High School is a private Catholic school located in the city of Rockford, Illinois. Founded in 1960, Boylan is the only Catholic high school in Rockford, and has 1187 students at the start of the 2010-2011 school year...
, and in 1971 he became the first superintendent of the Rockford Area Catholic Schools. Prior to this, Callahan served a variety of positions at Boylan, including the first athletic director, first head coach in football, basketball, and chair of the mathematics department.
In 1975, Callahan became the Assistant Secretary of State for Illinois under Secretary Michael Howlett
Michael Howlett
Michael J. Howlett, Sr. was a Democratic politician from the U.S. state of Illinois, who was elected several times to statewide office.-Early life:...
.
Immediately prior to his presidential appointment, Callahan served as director of the Illinois Department of Financial Institutions under Governor James R. Thompson
James R. Thompson
James Robert Thompson, Jr. , also known as Big Jim Thompson, was the 37th and longest serving Governor of the US state of Illinois...
. As director, he was responsible for the supervision of 2,000 consumer finance companies, 1,200 currency exchanges, and 1,000 Illinois-chartered credit unions.
Chairman of the NCUA
In 1981, President Ronald Reagan appointed Callahan as Chairman of the National Credit Union AdministrationNational Credit Union Administration
The National Credit Union Administration is the United States independent federal agency that supervises and charters federal credit unions...
, which made him the highest-ranking credit union regulator in the country.
As chairman of the NCUA, Callahan was one of the president's key advisors on domestic economic policy. He is credited with guiding the credit union movement into deregulation, allowing it to take flight.
Callahan made three key decisions while at the helm of the NCUA: to deregulate saving and loan rates, to allow a credit union to serve multiple ‘groups’ with a common bond (which allowed membership in credit unions to grow exponentially since), and to challenge credit unions to capitalize their own share insurance fund. As a result of these decisions, many feel he single-handedly saved the U.S. credit union movement.
Private Sector Career
After leaving the NCUA, Callahan went on to found Callahan & Associates in Washington, DC, the nation's leading provider of independent financial data concerning credit unions in the United States. The group publishes Callahan's Credit Union Report, which is a monthly publication that focuses on strategic concepts, thought-provoking ideas, and trends in the credit union industry. Callahan & Associates also seeks to promote the industry by facilitating cooperative endeavors among the nation's credit unions.Callahan later became CEO of the San Francisco-based Patelco Credit Union
Patelco Credit Union
The Patelco Credit Union is a community credit union that encompasses most of Northern California, particularly the San Francisco Bay Area. Founded in 1936, it is one of the oldest and largest credit unions in the country...
. Due in large part to Callahan's leadership, Patelco grew from a regional credit union with $280 million in assets to a national one with more than $2.8 billion when he retired in 2002. Today, Patelco is currently the 14th largest credit union in America, with $4.2 billion in assets.
Awards and Accolades
Among the many accolades that Callahan was awarded, he was inducted into the Cooperative Hall of Fame in 2000 and was awarded the Wegner Lifetime Achievement Award in 2003 by the Credit Union National AssociationCredit Union National Association
The Credit Union National Association, commonly known as CUNA , is a national trade association for both state- and federally-chartered credit unions located in the United States. CUNA provides member credit unions with trade association services, such as lobbying, professional development, and...
, which is the highest national honor given in the credit union industry.
At Callahan's retirement party on October 19, 2002, it was announced that more than $100 million had been pledged in his honor by the nation's credit unions to a newly-created program, the Callahan Fund, at the National Credit Union Foundation
National Credit Union Foundation
The National Credit Union Foundation ' is the United States credit union movement’s primary national charitable fundraising organization for credit union development...
. Proceeds from the investments of the fund support grant requests in the areas of cooperative development and financial literacy.
Death and legacy
Callahan died on March 18, 2009, in SacramentoSacramento
Sacramento is the capital of the state of California, in the United States of America.Sacramento may also refer to:- United States :*Sacramento County, California*Sacramento, Kentucky*Sacramento – San Joaquin River Delta...
, California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
.
At his funeral on March 27, 2009, at the Cathedral of the Blessed Sacrament in Sacramento
Cathedral of the Blessed Sacrament in Sacramento
Cathedral of the Blessed Sacrament in Sacramento is a cathedral of the Roman Catholic Church in the United States. It is the mother church and seat of Jaime Soto, the ordinary bishop of the Diocese of Sacramento. The Cathedral is located downtown at the intersection of 11th and K...
, it was announced that the Edgar F. and Kathleen M. Callahan Memorial Fund has been established at Marquette University
Marquette University
Marquette University is a private, coeducational, Jesuit, Roman Catholic university located in Milwaukee, Wisconsin. Founded by the Society of Jesus in 1881, the school is one of 28 member institutions of the Association of Jesuit Colleges and Universities...
in the honor of he and his late daughter, Kathleen.