The NCUA Board is now fully staffed. Former Oregon State Sen. Rick Metsger took the oath of office Friday morning in a private ceremony on Capitol Hill.
Metsger fills the seat on the three-seat panel vacated by Gigi Hyland last year. He joins Michael Fryzel and Chairman Debbie Matz and was sworn in by General Counsel Michael McKenna as the 20th board member the NCUA has had since its inception, the agency said in an announcement.
“I will do everything within my power to fulfill the trust placed in me by the president and the Congress to ensure both the integrity and the continued safety and soundness of our nation’s credit union system in a rapidly changing marketplace,” Metsger said in the announcement.
“For me, the most important task is the continued protection of the Share Insurance Fund, which protects credit union member deposits up to $250,000, from losses,” he said.
He added, “As I said during my confirmation hearing, my vision is for NCUA to be recognized as an agency that manages its own fiscal house well, proposes regulatory action that is effectively targeted to achieve the desired outcome without placing unnecessary burdens on the credit unions themselves and, above all, maintains the confidence and trust the American public places in their local credit union.”
Metsger, a former board member at Portland Teachers Credit Union (now the $3.4 billion OnPoint Community CU), was nominated by President Barack Obama in mid-May. He was confirmed by the Senate on Aug. 1, after a June 27 confirmation hearing before the Senate Banking Committee, and his term expires Aug. 2, 2017.
He served in the Oregon State Senate from 1999 to 2011, and was elected Senate President Pro Tempore in 2009. He also has served on the Oregon State Treasury Debt Policy Advisory Commission and before entering public service, worked as a radio and television journalist.