Heading through the Beltway traffic on my way to the NCUAoffices in Alexandria, Va., as the acting chairman of the agency onSept. 11, 2001, I learned from radio reports that two of the WorldTrade Center towers had been hit by commercial jets–obviously nocoincidence. But the far-reaching aspects of that day were broughteven more to bear when I walked into my offices that Tuesdaymorning to see the smoke rising outside my windows that facedthe Pentagon.

The truly sickening feeling of being an eye witness to astunning piece of history and the reality of a great nation underattack was literally all around us as we brought scheduled meetingsto an abrupt halt and the leadership team at NCUA chose to send thebulk of our staff home, if they wanted to go, or remain in the NCUAheadquarters if they felt safer there.

With loss of life mounting in both New York and Washington (aswell as in Pennsylvania by noon of that day), most had rightfullyelected to go home by mid-day to be with their families as a smallhandful of us stayed at headquarters until we had accounted forevery NCUA employee in New York and Washington as well as thestatus of credit union employees in branches in and near the WorldTrade Center and the Pentagon.

All NCUA staff andcredit union personnel were safe and accounted for. But we knewthat our nation was hurting and undoubtedly would be quitedifferent going forward after this unprovoked and unanticipatedattack on our homeland. Regulation was about to change big time inthe financial services industry, and we were to join our fellowregulatory agencies in the forefront of it.

Incidentally, it was in the following days that one of thegreatest honors of my professional life occurred, and it wasdirectly related to the events of Sept. 11. I had been in regularcontact with the White House for several months in hopes of havingthe president step up my official title one grade from actingchairman to permanent NCUA chairman. While we knew that PresidentBush was very favorable to the possibility of that move for me, wehad no assurance that it would happen and, if so, when.

Then, on Sept. 13, in an effort to make a statement to thenation that–although the terrorists had hit at the heart of ournation's financial district at the World Trade Center–the financialinstitutions of the United States were still safe, sound and insolid hands. He announced six appointments that day in order tohelp make his point, all of which were in the financial servicesregulatory arena. One of them was a new permanent chairman at NCUA.I was so honored to be that chairman.

I never walk into my office, either during my years at NCUA orin the years following, past my own personal framed copy of thepresident's signature dated Sept. 13, 2001, designating me to serveas NCUA chairman without a moment of pause to remember what thenation was going through in those days, how important instillingconfidence in the financial system was at that particular time andhow credit unions should be proud to have been recognized as a partof that presidential message of confidence when the chairmanship oftheir regulatory agency was designated by the president just twodays after Sept. 11.

In the year of this 10-year memorial, we should all pause andour hearts should remember Sept. 11, the lives that were lost andthe heroes that were discovered that bright fall day. It broughtout, even if it did not last as long as many of us would havehoped, the absolute best in America–an America withoutpartisanship, region, race or religion driving our actions. Wepulled together and stood tall as a nation.

And America's credit unions stood tall as well. From unlimitedATM withdrawals for firefighters in New York to shared branchingmeeting the needs of displaced travelers nationwide, credit unionsstepped into the breach.

As I visited Ground Zero just 10 days later as a representativeof the administration and met with the credit union leaders thatwere stepping up to meet financial needs at an incredibly stressfultime for many of their members, I realized then and still feeltoday that credit unions–as an industry–can be proud of our role inAmerica's recovery from this most pivotal moment of nationalchallenge in the lifetime of many of us. 

DennisDollar is principal partner at Dollar Associates LLC.