The two board members also agreed that cybersecurity is likely the most serious threat facing credit unions, and that policymakers must decide what the proper role for regulators is in battling the problem.

The Tuesday session was all but certain to be Metsger's last appearance as a board member at GAC. The Senate is on the verge of confirming two members, Democrat Todd Harper and Republican Rodney Hood to fill Metsger's seat, as well as one vacated by Debbie Matz in 2016.

Metsger has served on the board even though his term has expired because the Senate has not voted on a replacement since Matz left. Metsger joked that he had thought that his 2017 and 2018 appearances at GAC would have been his last.

Speaking at GAC, Senate Banking Chairman Mike Crapo (R-Id.) said full Senate votes on Hood and Harper remain a high priority.

In their speeches, McWatters and Metsger again celebrated their ability to work together despite political differences.

"We cut a deal," McWatters said, explaining how the two have operated. "It works. We get to where we need to be."

McWatters added, "It's collegial. It's common respect. It's what your mother and father taught you."

"Our responsibility was to the credit union system," Metsger added.

Metsger made a veiled reference to Vice President Mike Pence's Tuesday speech at GAC.

Pence gave an impassioned plea for credit union officials to tell their members of Congress to support President Trump's efforts to build a wall along the U.S. southern border.

Mestger said that credit unions should be concerned about another wall—a wall that the banking community is trying to build between credit unions and American consumers.