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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.

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