New NCUA Board Member Lists Priorities: Protecting the Share Insurance Fund, Effective Regulation, Sound Fiscal Management and Public Trust
ALEXANDRIA, Va. (Aug. 23, 2013) – The Honorable Rick Metsger took the oath of office and joined the National Credit Union Administration as its 20th Board Member in a Capitol Hill ceremony this morning.
“It is an honor and privilege to join the NCUA Board,” Metsger said. “I will do everything within my power to fulfill the trust placed in me by the President and the Congress to ensure both the integrity and the continued safety and soundness of our nation’s credit union system in a rapidly changing marketplace. For me, the most important task is the continued protection of the Share Insurance Fund, which protects credit union member deposits up to $250,000, from losses.
“As I said during my confirmation hearing, my vision is for NCUA to be recognized as an agency that manages its own fiscal house well, proposes regulatory action that is effectively targeted to achieve the desired outcome without placing unnecessary burdens on the credit unions themselves and, above all, maintains the confidence and trust the American public places in their local credit union.”
NCUA General Counsel Michael McKenna administered the oath.
Metsger was nominated by President Barack Obama in May, and the U.S. Senate confirmed his nomination Aug. 1. Metsger replaces former Board Member Gigi Hyland, who left the NCUA Board in October 2012. His term expires Aug. 2, 2017.
Prior to his joining the NCUA Board, Metsger was president of a strategic communications consulting firm. He served in the Oregon State Senate from 1999 to 2011, and his committee assignments included extensive work in the areas of financial services, transportation and economic development. He was elected Senate President Pro Tempore in 2009. Metsger previously served on the board of the Portland Teachers Credit Union and on the Oregon State Treasury Debt Policy Advisory Commission. Before entering public service, Metsger worked as a radio and television journalist.
NCUA is the independent federal agency created by
the U.S. Congress to regulate, charter and supervise
federal credit unions. With the backing of the full
faith and credit of the United States, NCUA operates
and manages the National Credit Union Share
Insurance Fund, insuring the deposits of more than 101
million account holders in all federal credit
unions and the overwhelming majority of
state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.