Credit union trade associations had nothing but good things to say about NCUA Board Member Gigi Hyland, who announced Thursday she would resign from the board after serving more than seven years on a six-year appointment.
Hyland will leave the board effective Oct. 5.
“NAFCU and its members have benefitted from the long working relationship with Board Member Hyland,” said President/CEO Fred Becker. “We thank her for her service to credit unions and wish her the best in her future endeavors."
CUNA President/CEO Bill Cheney also thanked Hyland for her service, giving what he called seven strong, substantive years to credit unions and the agency.
“At times we have had our differences over policy, but we have always respected her views and knew – innately – that she had the best interests of credit unions at the core of her positions. We wish her the very best, and we are certain that we will have more opportunities to work with her, in another capacity, somewhere down the road,” Cheney said.
Rick Pillow, president/CEO of the Virginia Credit Union League, said he has always found Hyland willing to listen to industry concerns regarding regulations, and she will be missed.
“She has always impressed me with her knowledge of the issues and willingness to communicate where the NCUA was on those issues,” Pillow said.
Pillow said the prospects for replacing Hyland this year aren’t good. While the board can continue to conduct business with only two board members, he said, three are preferable.
“It’s important to have a full slate of NCUA board members to act or not act on regulations,” he said.
Hyland was sworn in as an NCUA Board member on Nov. 18, 2005, for a six-year term, which expired more than one year ago. Earlier this year, the Obama administration nominated District Government Employees Federal Credit Union CEO Carla Decker to replace Hyland, but she withdrew her nomination in March after a negative exam report was released.
If Hyland isn’t replaced by Obama this year, the winner of the presidential election will replace two board members in 2013, as Michael Fryzel’s appointment expires in August.
Hyland’s announcement follows the retirement announcement of her senior policy adviser, Gary Kohn, who departed the agency Sept. 3.