Pub. 5 2010-2011 Issue 4

November/December 2010 7 Extraordinary Service for Extraordinary Members. 233 South 13th Street, Suite 700 Lincoln, NE 68508 Phone: (402) 474-1555 • Fax: (402) 474-2946 NBA Board of Directors NBA Staff George Beattie NBA President & CEO george.beattie@nebankers.org Joni Sundquist Vice President of Communications joni.sundquist@nebankers.org Larry D. Marik NBA Chairman (2010-2011) (402) 562-5846 First National Bank of Columbus, Columbus Kendell G. Holthus NBA Chairman-Elect (2010-2011) (402) 363-7414 Cornerstone Bank, York Colin Anderson (402) 561-7950 Great Western Bank, Omaha Robert A. Balfany (402) 434-1035 U.S. Bank, N.A., Lincoln Cory A. Bergt (402) 434-4122 Wells Fargo Bank, N.A., Lincoln David P. Dannehl (308) 876-2451 First State Bank of Loomis, Loomis Curt Denker (402) 434-3115 Pinnacle Bank, Lincoln Donovan H. Ellis (402) 396-3431 Midwest Bank, N.A., Pilger Alan L. Fosler (402) 323-1272 Union Bank & Trust Co., Lincoln Stephen J. Hatz (402) 918-1567 Bank of the West, Omaha Michael R. Hilderbrand (308) 537-7181 Gothenburg State Bank, Gothenburg Allan D. Jefferson (402) 759-3114 Geneva State Bank, Geneva Philip Jossi (308) 893-2351 State Bank of Riverdale, Riverdale Martin F. Koopman (402) 664-2561 Scribner Bank, Scribner John F. Kotouc (402) 399-5088 American National Bank, Omaha Vicki L. Kraai (402) 773-5541 Astra Bank, Sutton Clarence L. Landen III (402) 449-0919 Security National Bank of Omaha, Omaha Clark D. Lehr (402) 563-3656 First Nebraska Bank, Columbus Mark K. Linville (402) 337-0323 First State Bank, Randolph Michael Mahlendorf (402) 633-3965 First National of Nebraska Inc., Omaha Scott J. Meister (402) 941-8603 American National Bank of Fremont, Fremont Ken H. Niedan (308) 368-5555 Hershey State Bank, Hershey David A. Ochsner (402) 476-1131 Nebraska Bankers’ Bank, Lincoln Carl J. Sjulin (402) 434-3450 West Gate Bank, Lincoln John P. Stinner (308) 436-2300 Valley Bank & Trust Co., Gering Daryl L. Wilton (402) 363-7411 Cornerstone Bank, York Michael B. Jacobson NBA Past Chairman (308) 534-2861 NebraskaLand National Bank, North Platte Jeffrey W. Krejci NBA Past Chairman (402) 438-5858 First State Bank, Lincoln NBA Offers Recommendation to Fiscal Commission George Beattie, President & CEO, Nebraska Bankers Association Y OUR NEBRASKA BANKERS ASSOCIATION RECENTLY TOOK the opportunity to provide input on behalf of our membership to the National Commission on Fiscal Responsibility and Reform. President Obama created the bipartisan National Com- mission on Fiscal Responsibility and Reform to address our nation’s fiscal challenges. (Visit www.fiscalcommission.gov. ) More specifically, the purpose of the commission is to propose recommendations designed to balance the budget by 2015; improve the long-term fiscal outlook; address the growth of entitlement spending; and narrow the gap between projected revenues and expenditures of the federal government. The commission will meet monthly and will vote on a final report containing a set of recommendations no later than Dec. 1. The NBA told the commission that financial service pro- viders such as credit unions that compete with the banking industry yet operate in a tax-free environment are extremely troublesome to our industry and are a burden to other tax- payers who pay their fair share for government services. We encouraged the commission to review the credit union industry to ensure fair and equitable competition among all organizations that provide similar services. Our letter also noted another egregious example of this tax-advantaged status which is afforded the federal gov- ernment through the Farm Credit System (FCS)—the only government-sponsored enterprise (GSE) that competes directly with the private sector at the retail level. We asked the commission to consider eliminating the tax advantages extended to the FCS. You can read the NBA’s Sept. 21 letter to the National Commission on Fiscal Responsibility and Reform at www. nebankers.org/pdf/2010-09_NBA_Ltr_Com_Fiscal_Re- sponsibility.pdf. The commission welcomes input from anyone as it seeks out creative solutions to our nation’s mid- and long-term fiscal challenges. I would encourage you, as leaders within your communities and our state, to submit your comments, ideas, and suggestions to: commission@fc.eop.gov. Z ReachGeorge Beattie at (402) 474-1555 or george.beattie@nebankers.org .