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CEO Roundtable

Alexandria, Va., September 14, 2010 – National Credit Union Administration Board Member Gigi Hyland, speaking today at Miami University, Oxford, Ohio, encouraged mid-size credit union CEOs to continue their due diligence efforts and actively monitor their loan portfolios. “While the credit union system faces many challenges, credit unions still need to explore new avenues to serve everyone within their field of membership. This includes assuring you board, management and staff are as diverse, in age, gender and ethnicity, as your membership,” Hyland stated. Hyland also reviewed some of the key regulatory issues NCUA is addressing including its work to resolve the corporate credit union crisis. “Since the autumn of 2008, NCUA has worked to bolster and stabilize the corporate system so that there would not be any adverse impact on consumers. NCUA’s broad strategy has included a Stabilization Phase – stabilize liquidity and raise awareness about the situation; a Reform Phase — implement exit strategies for the extraordinary support programs and improve the regulatory framework; and, a Resolution Phase – conduct an orderly resolution at the least cost to the credit union system and consistent with sound public policy,” stated Hyland. Hyland noted that the Board would be deliberating on a National Share Insurance Fund premium at its upcoming meeting on September 16th. Additionally, Hyland reviewed some suggestions to the CEOs on how to manage the examination process during these trying economic times. Board Member Hyland’s remarks are available online at: http://www.ncua.gov/GenInfo/Members/Hyland/Speeches/10-0914HylandMiamiUniversity.pdf
The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 90 million account holders in all federal credit unions and the majority of state-chartered credit unions. NCUA is funded by credit unions, not tax dollars.

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