ALEXANDRIA, Va. -- The impact of the U.S. credit union industryon better banking concepts will have a voice on the global stagethis year because the World Economic Forum has named NCUA ViceChairman Rodney Hood as one of its Young Global Leaders of2008.

The WEF is a Swiss nonprofit foundation known for its commitmentto furthering good corporate and political governance and the forumof experts in their fields that it holds in Davos, Switzerland,each year.

According to the WEF website, the Young Global Leaders programsingles out for recognition 200-300 young leaders from around theworld for their professional accomplishments, commitment to societyand potential to contribute to shaping the future of the world. TheYoung Global Leaders for 2008 include 121 business leaders, as wellas leaders from government, academia, the media and societyat-large from 65 countries.

Hood shares this year's honor with a diverse list of people,including H.R.H. King Jigme Khesar Namgyal Wangchuck, King ofBhutan; tennis star Steffi Graf as founder of the organizationChildren of Tomorrow; Representative Artur Davis (D-Ala.), andAnderson Cooper, anchor of 360o on CNN.

The process the WEF undertakes to find its leaders each year iscomplex and overseen by Queen Rania of Jordan, the WEF said. Theorganization added that the process includes eminent internationalmedia leaders and that the selection committee aims to assemble agroup of nominees that is diverse, geographically balanced andrepresentative of a wide range of professions, talents andperspectives.

"Reflecting the diversity of stakeholders, the Young GlobalLeaders include leaders from the worlds of politics, business,civil society, academia, and arts and culture across the sevengeographic regions," the WEF said. "Together they form a uniquecommunity that can dramatically affect the lives of futuregenerations and craft innovative responses to address global andregional challenges."

In order to be considered for recognition, WEF said, a nomineemust, among other things, be 40 years of age or younger at the timeof nomination, have a recognized record of extraordinaryachievement and have a proven track record of substantialleadership experience. Typically, this requires five to 15 years ofoutstanding professional work experience and a clear indication ofplaying a substantial leadership role for the rest of his or hercareer as well as a demonstrated commitment to serve society atlarge through exceptional contributions.

Successful candidates this year were drawn from a pool of 5,000candidates and chosen by a selection committee of 31 eminentinternational media leaders, including Thomas Glocer, CEO of theReuters news agency; Arthur Sulzberger Jr., chairman and publisherof The New York Times; and Hisashi Hieda, CEO of the FujiTelevision Network, Japan.

Once someone is named to the YGL, they typically begin work withothers who are named on part of an agenda for the group that is setbroadly by the WEF. In the past, these have included topics such ashealth care, human dignity and human rights, finance anddevelopment, politics and governance, and other issues.

Contacted while traveling to speak to a credit union league,Hood was still processing what the inclusion in the group means forhim and for credit unions.

"Of course it's a terrific honor that leaves me a little takenaback but it's also a large responsibility too. The credit unionmovement is a worldwide movement, and I believe we have a lot tohelp the world attain, particularly in the areas of microfinanceand development lending," Hood said. "I look forward to being partof the different economic and finance initiatives and representingour credit union approach there."

The members of YGL typically share their progress towarddifferent goals and network with one another at a Young GlobalLeaders Summit, which the WEF sponsors and presents each year inthe fall. This year's summit is scheduled for Tianjin, China Sept.23-25. Hood said he looked forward to going and sharing theperspective of U.S. credit unions with other YGL leaders.

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