President Barack Obama said he will nominate former Oregon state Senator Rick Metsger to the NCUA Board.
Before filling the position, Metsger must first be confirmed by the Senate.
According to the White House release late Wednesday, Metsger is currently president of the Salem, Ore.-based Parakletos Strategic Public Affairs LLC, a position he has held since 2010.
He also served in the Oregon State Senate from 1999 to 2011, and as Senate President Pro Tempore from 2009 to 2011. Metsger also served on the Oregon State Treasury Debt Policy Advisory Commission from 2001 to 2011. He worked in broadcast news prior to his political and public relations careers.
From 1993 to 2001, Metsger served as a volunteer board member for Portland Teachers CU, which has since been renamed OnPoint Community CU and has $3.3 billion in assets.
He has a history of supporting credit union legislation, having sponsored bills in Oregon that would allow the state’s credit unions to accept public funds and raise a $100,000 member business loan cap on state-chartered credit unions.
The Credit Union Association of Oregon named Metsger its "Legislator of the Decade" at its 2009 annual meeting.
The White House announcement did not specify which term Metsger would fill. If Obama intends for Metsger to replace former Board Member Gigi Hyland, who left the NCUA last Oct. 5 after serving more than a year past her term’s expiration, Metsger’s term would be just four years.
NCUA Board members must serve a staggered six-year term, a restriction that dictates the shorter term to replace Hyland. NCUA Board Member Michael Fryzel’s term ends Aug. 2. Fryzel is a Republican.
Carla Decker, president/CEO of the $46 million District of Columbia Employees FCU, withdrew her nomination to the NCUA board in February 2012, after former board member James Talbert leaked the credit union’s CAMEL score. Talbert was banned from federally insured credit unions by the NCUA in March 2012 for the disclosure. Decker, also a Democrat, had been nominated to fill Hyland’s seat.
“We congratulate former Oregon State Sen. Rick Metsger on his nomination to the NCUA Board. In recent years, the board has had to deal with very difficult issues. The board will need to continue to tackle those issues and more in the coming years.” Fred Becker, NAFCU president/CEO said.
“Upon confirmation, we look forward to working with him and the NCUA Board and staff on behalf of our members to promote a positive regulatory environment for credit unions,” Becker said.
Current board members Fryzel and Debbie Matz also issued statements Thursday supporting the nomination.
“Rick will bring valuable perspectives to the NCUA Board, having served as a volunteer credit union board member as well as a state legislator. I look forward to welcoming Rick as soon as he is seated on the NCUA Board," said Matz, the current board chair.
“I extend my sincerest congratulations to Senator Metsger on his nomination by President Obama to the National Credit Union Administration Board,” said Fryzel. “It is an honor and privilege to serve and I wish him every success in his confirmation process.”