The morning after a new NCUA Board member was confirmed, a second member’s term has expired.
And like Gigi Hyland, whose term former Oregon State Sen. Rick Metsger is completing, Michael Fryzel is continuing on the job.
Metsger’s nomination was confirmed by the Senate late Thursday. His swearing in has not yet been set, the NCUA said Friday afternoon.
Fryzel's six-year term officially expired on Friday but he can remain in the post as long as he or the president wishes. He has told Credit Union Times that he is considering some options but has made no decision.
Hyland – who stepped down last fall and becomes the executive director of the National Credit Union Foundation later this month – remained on the NCUA Board for 14 months after her term expired and the position has remained unfilled an additional 10 months. As a result, because Metsger replaces Hyland, he will only serve the remaining four years of that six-year term, which expires on Aug. 2, 2017.
Hyland’s time on the board was extended by the failure of the first nominee the Obama Administration put up to succeed Hyland. Carla Decker, CEO of the District of Columbia Employees FCU, withdrew her bid in March 2012 amid criticism over her credit union’s fiscal performance in a series of events that culminated with an NCUA ban of one of that credit union’s directors.
Metsger brings to the post a record of credit union advocacy. In addition to serving in the Oregon State Senate from 1999 to 2011, Metsger served on the board of at Portland Teachers CU, rising to the office of vice chairman. Portland Teachers is now the $3.3 billion OnPoint Community CU.
While in the Senate there, the former TV sports broadcaster sponsored bills that would allow credit unions to accept public funds and raise a $100,000 member business loan cap on state-chartered credit unions. The public fund bill was passed in 2010.
In a 2004 Credit Union Times letter to the editor, Metsger warned credit union leaders against resting on their laurels when confronting bank lobbying efforts.
“As one who has worked hard in passing both national and state credit union legislation, I understand all too well that the next battle is just around the corner,” Metsger wrote. “The grassroots efforts of the 1990s must not rest in hibernation or we will all pay a very hefty price.”
Metsger was nominated by President Barack Obama in May. The Senate Banking Committee held Metsger’s confirmation hearing June 27, and the U.S. Senate confirmed his nomination Thursday evening.
Metsger’s work on the state level did not escape notice from the major trade association for those credit unions. “Certainly, his experience as a state senator and as vice chairman of Portland Teachers Credit Union has given him a deep understanding of state government and credit unions,” NASCUS said Friday in a statement.
"NASCUS congratulates Senator Metsger," said President/CEO Mary Martha Fortney. "We look forward to working with him on the NCUA Board on matters of concern and interest to the state credit union system."