President Obama yesterday named Deborah Matz, an NCUA board member from 2002-2005, to be the new chairman.
Matz, a former executive vice president/COO of Andrews Federal Credit Union in Suitland Maryland, was a deputy assistant secretary of agriculture during the Clinton administration.
During her tenure, on the NCUA Board she was especially concerned about the health of small credit unions and worked to strengthen the agency's efforts to help them and deal with regulations. She was also a large proponent of risk-based pricing on loans and encouraged credit unions to do more work in low-income areas. For part of her time on the board, there were only two members--Matz and Chairman JoAnn Johnson--and they had difficulty reaching consensus because while they got along well personally they had strong philosophical disagreements.
If confirmed by the Senate, Matz would succeed NCUA Chairman Michael E. Fryzel, an appointee of former President Bush who has held the job since last July. He will remain on the board as his term expires in August 2013. Matx would take the board seat of Vice Chairman Rodney Hood, whose term expired in April but has been serving, pending the confirmation of a successor.
The President's choice of Deborah Matz is a wise and sound one, a choice that speaks well both of Ms. Matz' past service and future promise. When confirmed, she will assume the chairmanship of the NCUA at a historic time marked by significant challenges. I extend every good wish and confidence in her abilities to carry out her responsibilities with distinction," Fryzel said in a statement. "The last ten months have arguably been the most difficult period in the first century of the credit union movement, and it has been a true privilege and honor to serve as NCUA chairman."