NCUA News Release

Rodney E. Hood Sworn-in as NCUA Board Member

Alexandria, Va., November 15, 2005 – National Credit Union Administration (NCUA) Chairman JoAnn Johnson administered the Oath of Office to new Board Member Rodney E. Hood today at NCUA headquarters. The United States Senate confirmed Board Member Hood as a Member of the NCUA Board on November 7. Mr. Hood’s experience spans 17 years in the public and private sector. Most recently, he served as associate administrator of the Rural Housing Service at the U.S. Department of Agriculture and was responsible for managing a $43 billion loan portfolio with over 400,000 loans.

“I am pleased to welcome Rodney Hood to the NCUA Board,” said Chairman Johnson. “Rodney’s extensive experience in financial services and leadership in working to make an ownership society a reality for millions of Americans will be a tremendous asset to NCUA and the nation’s credit unions. I look forward to a good working relationship, as we focus on maintaining a safe and sound regulatory environment and empower credit unions to serve Americans from all walks of life.”

“I am privileged to serve the nation at the NCUA and look forward to working with Chairman Johnson and Gigi Hyland in ensuring the safety and soundness of the nation’s federally insured credit unions,” said Board Member Hood. “I am pleased to be in a position where I can continue to serve my country by regulating the not-for-profit financial cooperatives that give hardworking people access to capital, credit, and the American Dream.”

In addition to Board Member Hood, Gigi Hyland was confirmed by the United States Senate. Ms. Hyland is expected to take the Oath of Office later this week.

The National Credit Union Administration is the independent federal agency that charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates the National Credit Union Share Insurance Fund (NCUSIF), insuring the savings of over 84 million account holders in all federal credit unions and many state-chartered credit unions.