WASHINGTON -- Both CUNA and NAFCU said Steve Preston, administrator for the Small Business Administration, is the ideal candidate to head the Department of Housing and Urban Development.
After nearly two years at SBA, Preston said he has accepted President Bush's nomination. The acceptance came on April 18, the last day on the job for outgoing HUD Secretary Alphonso Jackson.
"We applaud him...and for bringing his problem solving talents to bear at the agency," said Mary Dunn, CUNA senior vice president and associate general counsel of regulatory advocacy. "From all reports, HUD is in need of such skills and we are hopeful he will combine his concern for efficiency with compassion for those who in this time of mortgage crisis, need housing assistance and related services."
NAFCU President/CEO Fred Becker said the trade group "applauds Steve Preston's willingness to take over as head of the government's housing agency during this time of crisis in the housing market."
Under Preston's tenure, the number of SBA credit union lenders increased to nearly 400. CUNA President/CEO Dan Mica met with Preston in February to mark the five year anniversary that credit unions were granted expansion to offer SBA loans regardless of their charter.
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