While protecting safety and soundness of credit unions andlooking out for consumer interests, undue burdens should not beheaped on credit unions, choking out effective service to members,or bogging down the efficiency of the operations.

The challenge, of course, to achieving that objective is to bevigilant to maintain a flexible system for credit unions. Here aresome top regulatory issues to focus on:

-Outreach Task Force: NCUA Board Member Gigi Hyland spent 2007soliciting credit union views for her report for the full board,which covers member service and executive compensation, as well asother recommendations. In collaboration with the AmericanAssociation of Credit Union Leagues, we will be working to ensureNCUA acts in the best interests of credit unions in helping showhow they reach out to their members.