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ALEXANDRIA, Va. — Before the holidays, NCUA Vice Chairman Rodney E. Hood addressed a Washington, D.C., FDIC conference entitled, “Affordable, Responsible Loans for the Military.” The conference focused on building profitable, long term, multiple-account banking relationships through affordable credit and providing a better alternative to high cost, non-bank, financial service providers often found surrounding military bases. Hood was joined by private and public sector officials, including FDIC Chairman Sheila C. Bair; Congressman Barney Frank (D-Mass.), incoming chairman of the House Financial Services Committee; and Major General Andrew M. Egeland Jr., USAF (Ret.), president/CEO of the Association of Military Banks of America. Hood emphasized the necessity for our military-affiliated credit unions to work especially hard in reaching young men and women in uniform before they are introduced to predatory lenders, of which he said, “the most unscrupulous financial service providers place their shell offices near military bases. These fringe providers of capital have no desire to help our enlisted members achieve economic empowerment.”

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