ALEXANDRIA, Va. — In an address before the 2007 Michigan Credit Union League Annual Convention and Exposition, NCUA Vice Chairman Rodney Hood stressed the importance of meetings like this one to keep credit union leaders at the top of their game.
In general, nearly every industry today has many of the same challenges like data security and succession planning. In addition, credit unions specifically need to adjust to the changing financial services market place, including issues such as member business lending, homeownership, and stagnant growth.

Hood also emphasized the importance of financial literacy as a fundamental starting point to making a difference in the lives of all credit union members, particularly the underserved. "Americans will never reach the financial mainstream unless they are aware of the services available which will empower them to do so," he said.

Hood concluded, "I am committed to listening carefully and working hard to ensure the safety and soundness of the credit union system. I know that we can work together to continue helping families achieve the American dream of homeownership–that we can assist entrepreneurs in creating small, viable businesses, and we can provide the trusted resources for families to save for their future."