OLYMPIA, Wash. — It was all done in jest, but NCUA's Region V Director Melinda Love was given a hunter's bright orange flak jacket to wear before taking corporate bailout questions at the Washington Credit Union League's annual GAC Conference over the weekend.
Tension was reportedly "pretty high" before her remarks to a CEO audience at the Red Lion Inn but was soon dissipated as the regional regulator fielded more than a dozen questions from executives quizzing her on NCUA's bailout policy, rationale and accounting procedures regarding the controversial assessment now planned b y NCUA to cover corporate losses.
"I think Melinda appreciated the fact that it was done only in fun and we were trying to invoke a sense of humor," to the proceedings, explained Debie Keesee, chairman of the GAC Conference. Keesee wore one of the flak jackets to introduce Love as did Susan Streisel, a member of the CUNA Board and also president/CEO of Woodstone CU of Federal Way. Keesee, vice chairman of the Washington League, is also president/CEO of Spokane Tacoma CU.
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Keesee said the league session held on Friday seemed to prove helpful and productive for attendees. Accounting issues continue to dominate discussion, she said, as CUs try to clear the confusion on how to treat the assessments "once the NCUA rollout takes place."
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