WASHINGTON — NCUA Chairman JoAnn Johnson was the only credit union witness to offer her statement before the regulatory relief for credit unions hearing recessed for twenty minutes to allow members to vote.

Johnson's written statement ran 16 pages, but she used the five minutes allotted for spoken testimony to highlight the agency and credit unions needs for capital reform. Adopting a risk based approach to credit union capital needs would both allow credit union greater flexibility in how they serve members, particularly in underserved areas, and maintain safety and soundness she said, adding that some credit unions may well see their capital requirements rise under a risk based approach.

She also strongly endorsed allowing all federally chartered credit unions to be able to adopt and serve underserved areas in their communities.