Age: 50 Replaced: Shirley Bown Immediate Previous Employment: CEO of Gulfport VA Federal Credit Union Term: Expired April 2003 CUT: What do you think are your biggest accomplishments on the board so far? During over six years on the NCUA Board, I believe we have accomplished substantive and much needed modernization of NCUA’s regulations and have improved the effectiveness of the credit union regulatory environment. Our actions have strengthened significantly the safety and soundness position of America’s credit unions to their highest levels of financial performance in history. RegFlex was clearly a priority issue with which I became identified early in my term. With almost three years behind it, this earned regulatory flexibility initiative has proven extremely successful as it has provided over 3,600 well-capitalized, well-managed federal credit unions the incentive of greater empowerment to make certain specified business decisions, without compromising safety and soundness. Another significant accomplishment is the modernized Field of Membership (FOM) rules for federal credit unions. I could not be more pleased with the results of these updates as they have provided options for the FOM diversification necessary for credit unions to remain viable in today’s rapidly changing financial marketplace. Although essentially a safety and soundness issue, the updated rules will allow extension of lower cost financial services to millions from all walks of life who might otherwise be left with few, if any, lower cost options. The rule updating our member business lending regulations was long overdue and will provide greater access to start-up capital for entrepreneurial credit union members. The results will be opportunities for more jobs in America’s small business sector, additional economic growth, and more risk diversification in credit union lending portfolios. Our Accountability in Management (AIM) initiative focused on good stewardship of NCUA resources with the implementation of meaningful efficiency recommendations for agency restructuring, as well as establishing a more effective long-term direction for the agency through NCUA’s more outcomes-based strategic planning process. Under AIM, the agency has also made history by conducting for the first time annual NCUA budget briefings and public forums three years in a row. The success of our Access Across America initiative has been outstanding, resulting in over 700 federal credit unions nationwide adopting underserved areas into their FOMs and extending access to lower-cost financial services to more than 60 million in underserved communities. I would be remiss to leave out the implementation of a risk-focused examination program, modernization of the corporate credit union regulation and an updated investment regulation for federal credit unions. CUT: What are your goals for remainder of time on the NCUA Board? While I am still in the batter’s box, I intend to keep swinging and maybe get a few more hits. As it has been for over six years, my priority continues to be to ensure that credit unions have a regulatory environment unconditionally emphasizing safety and soundness yet facilitating sufficient empowerment for well-managed credit unions to be able to effectively serve their members without unnecessary regulatory burden. While I am chairman, NCUA will continue to evaluate ways to improve and modernize credit union supervision and regulation without sacrificing the credit unions’ solid financial position. Whether it is legislative or regulatory issues, my goal remains for NCUA to be a respected, independent regulatory agency providing solid leadership.

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