Chip Filson

A Midwesterner by birth and upbringing, Chip Filson grew up in small towns where people mostly knew each other.  Families got together after church for lunch on Sundays and holidays.   Extended reunions would take place every summer in a local park as most relatives lived driving distance from each other.

After college Chip wanted to see the world.   He Spent two years at Oxford, four years with Uncle Sam on USS Windham Cty LST-1170, and at NSD Yokosuka, Japan.  These overseas adventures were capped off by three years in Sydney Australia where he worked as an International Banking Officer for the First National Bank of Chicago in the local Representative Office.

Returning to the US with two daughters who spoke Aussie (lasted about three weeks), Chip took a job as Credit Union Supervisor for the State of Illinois along with two wonderful colleagues Ed Callahan and Bucky Sebastian.  After five years, the three friends traveled together to Washington DC to be part of the leadership team at NCUA from October 1981 through May 1985.   Ed was Chair of the NCUA Board, Bucky Executive Director and General Counsel, and Chip was Director of the Office of Programs.  This office included President of the CLF, oversight of the NCUSIF and the office of examination and insurance.

In both regulatory roles they experienced and helped transform the regulators and credit unions to the new era of deregulation.  As Ed described this goal, it was to transfer responsibility for the business decisions of credit unions to the Boards and managers, those closest to the members, and away from the government.

In April 1985 the three men co-founded Callahan and associates, from which Chip retired in 2018, converting the firm to employee owned,  or ESOP.

Chip’s current interests include a blog on credit unions at Just a Member. He and his wife, Joan, enjoy gardening, continuing to sing in community choirs, and staying in touch with friends and family.

Commentary

NCUA Audit Reports Show There’s Something Wrong

The NCUA board touts its payback to credit unions, but soaring reserves hide a different story.
Commentary

What Could Credit Unions Do With $2.5 Billion?

Hike the Hill, demand change, join together to encourage state and federal lawmakers to step in and save the system from the regulators.
Commentary

Save The NCUSIF Model From The NCUA

The regulator listens to no one but itself — keeping more and spending more while the FDIC shrinks. Now, the fund owners have the means ...
Commentary

Raising The NCUSIF’s NOL: Smoke And Mirrors At The NCUA

Creating future accounting fictions is at the core of the regulator’s rationale for paying itself more and returning less to credit unions.
Commentary

The Most Important Audit Ever: NCUSIF’s Future Hangs In The Balance

How will independent experts view the NCUA’s merger of the corporate credit union bailout leftovers into the share fund?
Commentary

Time For Real Credit Union Disruption: Seek Change From The NCUA!

Keeping credit unions’ money for itself in the corporate bailout fund merger is the last straw — NCUA’s self-interest trumped its cooperative responsibility.
Commentary

Now Is The Time To Act! Are You In?

Are you willing to get involved in saving the NCUA from itself and the credit union movement for future generations?
Commentary

Pre-Funding Hypothetical Future Losses: A Lesson From Hurricane Katrina

The NCUA does not need to keep credit union corporate bailout money, if the past is still prologue.
Commentary

Credit Unions Rally To NCUA’s Side. Will This Prove A Good Decision?

Free from congressional oversight, how will the still-independent NCUA answer calls for its own financial answerability?
Commentary

Carpe Diem! The NCUA Deadline For Comment On Bailout Funds Merger Is Here.

The regulator is offering a rare opportunity for input on how it handles billions in credit unions’ money, but the movement better move fast.
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