It has truly been an honor to serve as NAFCU's president and CEO for 13½ years. Before I leave, I'd like to share a few thoughts about where our industry has been and where it is likely headed.
The financial services industry has seen more change in the past decade than just about any other. From the financial crisis and the Great Recession to the ongoing fight against overregulation, credit unions have had to prove themselves again and again by adapting to the ever-changing environment while keeping their focus on what is best for their members.
Within two weeks of my start at NAFCU in January 2000, I had what you could call a baptism by fire. The House and Senate judiciary committees were negotiating a bankruptcy bill that had the potential to limit credit union members' ability to reaffirm loans after filing for bankruptcy. I was encouraged by how the NAFCU board responded to the threat, as we moved quickly to lead the effort to oppose this development–and in a short period of time, we had convinced the committees to include new language that would protect credit unions.
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