President Obama selected NCUA Vice Chairman Rick Metsger as theNCUA board's new chairman Monday. He replaces Debbie Matz, who lefther position at the end of April.

Metsger joined the NCUA board in August 2013 and was electedvice chairman in September 2014.

Although Metsger was selected as vice chairman, the NCUA boardremains in a state of flux. Obama has not yet nominated a new member of the board. Inaddition, the president nominated NCUA board member Mark McWattersto serve on the board of the Export-Import Bank.

However, Senate Banking, Housing and Urban Affairs CommitteeChairman Richard Shelby (R-Ala.) so far has refused to schedule a hearing on McWatters' nomination. He hassaid he wants Obama to nominate a vice chairman of supervision atthe Federal Reserve before he considers the McWattersnomination.

In addition, many conservative Republicans have said they opposethe Export-Import Bank, deriding it as corporate welfare.

Therefore, if this nomination continues to stall, the NCUA boardwill have two members; if McWatters is confirmed, the NCUA boardcould have just one member.

In a statement regarding Metsger's appointment, McWatters said,“I look forward to working with Rick to bring true regulatoryrelief to the credit union community while protecting the safetyand soundness of the Share Insurance Fund.”

However, McWatters has said that if the NCUA has a two-personboard, he would not vote in favor of new regulations withoutevidence of the credit union industry being in danger.

“I deeply appreciate the trust President Obama has placed in meand I look forward to the challenges and opportunities ahead as theagency strives to protect credit union members and provide a modernregulatory framework for credit unions to innovate and grow safelyand soundly,” Metsger said in a prepared statement. “[The] NCUA hasa hard-working staff dedicated to the agency's mission, and I amproud to serve with them.”

In recent years, Metsger has focused on modernizing credit unionregulations and the federal credit union charter to give thesefinancial institutions more flexibility to adopt innovations aswell as offer them relief from federal rules.

Metsger served in the Oregon State Senate from 1999 to 2011 andwas elected Senate President Pro Tempore in 2009. While in theSenate, he was the chief sponsor of legislation to expand fields ofmembership for state chartered credit unions.

A former teacher and broadcast journalist, Metsger was also amember of Portland Teachers Credit Union (now the $4 billion,Portland, Ore.-based OnPoint Community Credit Union) for eightyears and served as its vice chairman.

Following Metsger's selection, CUNA president/CEO Jim Nusslesaid, “Based on Rick Metsger's extensive track record of thoughtfulleadership and levelheaded decision making as NCUA vice chair,President Obama was presented with an easy decision whenconsidering a replacement for former Chair Debbie Matz.”

He added CUNA looks forward to working with Metsger on issuessuch as updating FOM rules and improving on the examinationprocess.

NAFCU President/CEO Dan Berger also praised the appointment,stating, “We look forward to continuing our work with him and theentire agency to ensure credit unions have the best regulatoryenvironment possible to continue their high level of service tomembers.”