Vice Chairman Hood Announces Keynote Speaker
for Upcoming Risk Mitigation Summit
October 12, 2006, Williamsburg, VA- National Credit Union Administration (NCUA) Vice Chairman Rodney E. Hood announced today at VACORP's Financial Strategies Conference that the Honorable Susan Schmidt Bies, member of the Board of Governors of the Federal Reserve System will serve as the Keynote Speaker at the upcoming Risk Mitigation Summit. Hood was addressing a gathering of Virginia Credit Union CEO's in Williamsburg.
The Vice Chairman applauded the Virginians for their efforts as part of the credit union industry's emphasize on furthering homeownership and providing home equity loans. Hood citied a 6.5% increase for first and second mortgages and home equity loans during the second quarter of 2006. He urged them to increase their Member Business Lending to small business and to seek innovative methods to continue outreach to the underserved.
The Risk Mitigation Summit that Vice Chairman Hood is hosting on January 11, 2007, will be at the United States Chamber of Commerce . It will highlight the latest trends in risk management and analysis. Leaders from the U.S. Department of Treasury, Federal Reserve System, Corporate Credit Unions, and others from the financial services community will be attending the free, one-day event.
"This summit of both natural person and corporate credit unions will meet together and have a dialogue on the most current and sophisticated tools to mitigate balance sheet risks and explore alternative investment opportunities for credit unions of all asset levels," said Vice Chairman Hood, who has made risk mitigation a priority during his term. "Safe and sound credit unions should manage risk, not avoid it. As the regulator, NCUA should renew a focus on sustaining all these institutions in the credit union system, while facilitating opportunities to mitigate risks and create strategic partnerships for the continued growth and expansion of all not-for-profit financial cooperatives."
"I am delighted to announce Dr. Susan Schmidt Bies as the Keynote Speaker for the Risk Mitigation Summit," said Vice Chairman Hood. "Dr. Bies is a proven leader and expert in economics and financial services, and throughout her exemplary career has contributed to the strength of the economy both through her service in the private sector and her achievements in the academic arena. Her selfless commitment to civic and charitable endeavors truly exemplifies the 'people helping people' mission of credit unions. Dr. Bies' insights regarding risk management will certainly benefit all in attendance."
Bies took office on December 7, 2001. She had most recently served the Executive Vice President for Risk Management and Auditor at First Tennessee National Corporation, Memphis, Tennessee, from 1995-2001.
The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund (NCUSIF), insuring the deposits of over 85 million account holders in all federal credit unions and the majority of state-chartered credit unions. |
