NACUSO Backs Petition to Reform NCUA Board Nomination Process
While it isn’t supporting any specific individual, NACUSO said it is backing an initiative that asks President Obama to consider appointing directors to the NCUA who understand cooperatives.
“Having leadership and regulators in the NCUA who understand these principles reinforces our business model and the day to day choices we make. Cooperatives are built by their members; members who fund and direct their credit unions through elections of leaders, allowing individual interests to align with community needs,” NACUSO wrote in a letter encouraging others to sign the petition, which made its debut at CUNA’s Governmental Affairs Conference last week in Washington.
The petition was launched by Callahan & Associates’ Chip Filson, who also said he was interested in being nominated to the board.
“Without NCUA board members who respect and understand these principles; the credit union will soon be just another bank,” NACUSO said.
As of Monday, the petition had received more than 1,000 signatures.
“We are not supporting any individual, simply asking the president to give consideration and preference to experienced credit union movement leaders, those who understand cooperatives and the underlying principles upon which credit unions operate,” NACUSO said.