Matz to be nominated as NCUA chair

WASHINGTON (5/22/09)—Debbie Matz is President Barack Obama's choice to become the new chair of the National Credit Union Administration (NCUA), the White House announced Thursday.

Matz is a former member of the NCUA board, confirmed by the Senate on March 22, 2002 for a term ending August 2005, although she remained a few months longer to assure a smooth transition to a new member. Matz was executive vice president and chief operating officer of $800 million-in-assets Andrews FCU, in Suitland, Md., until June 2008.

Credit Union National Association President/CEO Dan Mica said Thursday, "Our sincere thanks to President Obama for ensuring the NCUA board has its full complement to face the many critical issues now before credit unions. Ms. Matz has strong credit union credentials and, from our past experience with her, we know her as a solid and competent regulator.

"We look forward to working with her. We thank Rodney Hood for his service on the board, as well as to Michael Fryzel for his tenure as board chairman."

Hood, was nominated to the NCUA to fill a vacancy when Dennis Dollar left his position more than a year earlier. Hood's term expired in April.

The two remaining board members are current Chairman Michael Fryzel, who took the position in August 2008 and whose term extends in to 2013, and Gigi Hyland, confirmed at the same time as Hood, and whose term ends in 2011.

Obama, who announced his intention to nominate several other nominees at the same time as Matz--including Winslow Sargeant, as chief counsel for advocacy for the U.S. Small Business Administration-- said of his candidates:

"I'm grateful that such experienced and dedicated individuals have joined my administration at a time when our nation faces great challenges. Their deep commitment to their individual areas of work gives me confidence that they will help us put America back on a path to prosperity and security. I thank them for their service and look forward to working alongside them in the years to come."

The president's nominees must go through the confirmation process, which includes a nomination and confirmation hearing, and, if approved, a formal swearing in.

courtesy of cuna.org