ALEXANDRIA, Va.-Two independent sources within the credit union community who asked to remain anonymous have confirmed that rumors are surfacing that the nomination of the next NCUA Board member is imminent. Both sources said they expected the president to make a nomination to the NCUA Board as early as last week. NCUA Chairman Dennis Dollar's term expired over four months ago. He has not publicly disclosed any future plans. One of the sources added that he/she also expects NCUA Vice Chair JoAnn Johnson to be elevated to chairperson after Dollar's departure. Johnson, a Republican, has about four years left on her term. U.S. Department of Agriculture Rural Development Office Deputy Undersecretary for Policy and Planning Gilbert Gonzalez, another Republican, looks to be the favorite at this point. Prior to his USDA appointment, he served as president of the Community Development Loan Fund, Inc., in San Antonio, Texas, where he raised funding for community development projects, primarily for Hispanic neighborhoods. In his current capacity, Gonzalez was a signatory to the partnership agreement between USDA and NCUA under the auspices of NCUA Chairman Dennis Dollar's Access Across America initiative. He also spoke at NCUA's El Paso Access Across America Workshop. Once a nomination is made by the administration, it will be referred to the Senate Banking Committee for a hearing and vote. The full Senate must then vote up or down on the candidate. Democrat NCUA Board Member Deborah Matz has approximately two years remaining on her term. [email protected]

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.