ALEXANDRIA, Va. -- The impact of the U.S. credit union industry on better banking concepts will have a voice on the global stage this year because the World Economic Forum has named NCUA Vice Chairman Rodney Hood as one of its Young Global Leaders of 2008.

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

According to the WEF website, the Young Global Leaders program singles out for recognition 200-300 young leaders from around the world for their professional accomplishments, commitment to society and potential to contribute to shaping the future of the world. The Young Global Leaders for 2008 include 121 business leaders, as well as leaders from government, academia, the media and society at-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 of Bhutan; tennis star Steffi Graf as founder of the organization Children of Tomorrow; Representative Artur Davis (D-Ala.), and Anderson Cooper, anchor of 360o on CNN.

The process the WEF undertakes to find its leaders each year is complex and overseen by Queen Rania of Jordan, the WEF said. The organization added that the process includes eminent international media leaders and that the selection committee aims to assemble a group of nominees that is diverse, geographically balanced and representative of a wide range of professions, talents and perspectives.

"Reflecting the diversity of stakeholders, the Young Global Leaders include leaders from the worlds of politics, business, civil society, academia, and arts and culture across the seven geographic regions," the WEF said. "Together they form a unique community that can dramatically affect the lives of future generations and craft innovative responses to address global and regional challenges."

In order to be considered for recognition, WEF said, a nominee must, among other things, be 40 years of age or younger at the time of nomination, have a recognized record of extraordinary achievement and have a proven track record of substantial leadership experience. Typically, this requires five to 15 years of outstanding professional work experience and a clear indication of playing a substantial leadership role for the rest of his or her career as well as a demonstrated commitment to serve society at large through exceptional contributions.

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

Once someone is named to the YGL, they typically begin work with others who are named on part of an agenda for the group that is set broadly by the WEF. In the past, these have included topics such as health care, human dignity and human rights, finance and development, 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 for him and for credit unions.

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

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

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