President Obama announced Wednesday that he will nominate John A. Herrera to fill the open seat on the NCUA board.

Herrera is the SVP for Hispanic and Latino affairs at Self-Help Credit Union, a Durham, N.C.-based credit union with almost $738 million in assets. From 2003 to 2010, he served as a commissioner for the North Carolina Credit Union Commission.

He has been an alderman in Carrboro, N.C., and has served on the board of the Latino Community Development Center in Durham since 2001. He co-founded the state chartered Latino Community Credit Union in 2000.

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