ALEXANDRIA, Va. – NCUA Chairman Dennis Dollar announced that Board Member JoAnn Johnson was unanimously voted to the position of vice chair last week effectively immediately. “I want to express my appreciation to Chairman Dollar and Board Member (Deborah) Matz for their support in naming me vice chair,” Johnson said. “I look forward to continue working under Chairman Dollar’s leadership to ensure strict safety and soundness standards while further enhancing the regulatory environment for all credit unions.” Dollar commented, “I have long felt that the Board should have a vice chair to make it clear beyond question who would chair a meeting or sign documents on behalf of the agency in the absence of the Chairman. (Former Iowa State) Senator Johnson has contributed much to the agency during her first year on the Board and I have tremendous confidence in both her judgment and her leadership ability.” Special Assistant to the Chairman for Public Affairs Nick Owens explained that the naming of the vice chair does not indicate that the chairman’s exit is “imminent.” “It provides for stability and continuity in leadership of the agency in the absence and in support of the chairman,” he said. Dollar’s term is set to expire in April, though it is typical of NCUA Board members to serve beyond their terms. Owens pointed to a situation at the National Transportation Safety Board where the chairman was appointed to head the Federal Aviation Administration and the vice chair has been serving in his stead. Past NCUA vice chairs have traditionally been the board member from the same political party as the chairman and president. Since the NCUA Board was established in 1979, P. A. Mack in 1979, Elizabeth Burkhart in 1982 and Shirley Bown in 1991 have served as vice chairs. No vice chair has been named since Bown left the Board in 1997. The long vacancy may have been the result of the oftentimes tumultuous relationship between then-NCUA Chairman Norm D’Amours and Board Member Yolanda Wheat, both Democrats appointed by President Bill Clinton. Supporting Johnson for the position, Matz-the board’s sole Democratic representative-said, “I am honored to serve with such distinguished colleagues. Mrs. Johnson has demonstrated a commitment to maintaining the safety and soundness of credit unions and I am sure she will carry out the duties of vice chair with the thoughtfulness and thoroughness that she has exemplified as a board member.” President George W. Bush nominated Johnson to the NCUA Board in November 2001. Johnson was appointed as a recess appointee by the president in early 2002, until the Senate confirmed her on March 22, 2002. [email protected]

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