Professor of Economics James D. Likens was given the California Credit Union League’s Leo H. Shapiro Lifetime Achievement Award on October 16. The award recognizes excellence and leadership in the California Credit Union. Likens, Chair of the Economics Department and the Morris B. and Gladys Pendleton Professor of Economics at Pomona, called receiving the award "an honor."

The award recognizes people who have made great contributions to the California Credit Union while upholding the league’s philosophy of "people helping people."

Credit Unions are financial institutions that are owned by a group of people with a common bond rather than by shareholders, the way that banks are. For example, a credit union could be made up of people who work at the same company or who attend the same church. Credit unions provide the same services as banks, except they usually have lower interest rates since they exist for the depositors, not to make a profit for the shareholders.

Likens is involved with the First City Savings Credit Union, one of approximately 650 credit unions in California, where he is currently Chairman of the Board of Directors. Tom Thompson, director of corporate communications at First City Savings, explained that Likens’ job is "sort of like being the CEO’s boss. He oversees the management of the credit union and offers leadership."

There is a branch of this credit union on First street in the Village where some Pomona College faculty and students are members.

Likens was nominated for the Lifetime Achievement Award by Stephen Punch, Chief Executive Officer at First City Savings Credit Union. In the First City Savings press release, Punch said, "We at this credit union have experienced first-hand the benefits of [Likens’] guidance and instruction."

Likens believes that there are many reasons why he was nominated for the award, but that he is probably best known for a summer program he has created for credit union professionals. The program takes place on the Pomona campus. Likens says that the people who come for the program each summer "live in the dorms, eat in the cafeteria, and get to take classes with Pomona faculty and others." The program, called the Western CUNA Management School, gives classes in subjects like economics, business law, and communications. Likens is currently the President and Dean of this school.

A popular professor with economics students at Pomona, Likens is more than just a teacher and academic adviser to many of them. "I’ve had a bunch of trying times lately, and he has been a large part of the reason that I’ve gotten through them as successfully as I have," said Sunil Watumull ’01, an economics major. "When I took a semester off, I had no one to ask for advice in terms of the consequences of taking that action, and called on him. He gave up tons of his own time to sit and work things out with me so I could make the right decision for me. There have been times when I have knocked on his door with something I needed to get off my chest and he has been the best listener and guide for me."

The Lifetime Achievement Award is named after Leo H. Shapiro, who was the award’s first recipient. Likens calls Shapiro "the father of the credit union movement in California" and says that it is "very nice to be associated with him and all of the other distinguished people who have won this award."

The award is the biggest honor that the California Credit Union League gives.