Vice Chairman Hood Addresses
Annual Meetings in North Carolina
June 12, 2006, Alexandria, VA – During a visit to his home state of North Carolina, National Credit Union Administration (NCUA) Vice Chairman Rodney E. Hood addressed the 71st Annual Meeting of the North Carolina Credit Union League and First Carolina Corporate Credit Union’s Annual Meeting and Luncheon.
In his address to the North Carolina Credit Union League, Vice Chairman Hood praised credit unions for their role in strengthening the economy and promoting homeownership in America. “President Bush’s policies have led to the strong resurgence in America’s economy,” said Vice Chairman Hood. “Credit unions are playing a major role in this economic growth by providing access to capital for small businesses and prospective homeowners. I applaud the League for helping North Carolina’s credit unions work together to help their members achieve the American dream.”
While highlighting President Bush’s proclamation of June as National Homeownership Month, Vice Chairman Hood encouraged credit unions to continue helping their members become home owners. “Under President Bush, Homeownership is at an all time high across America, and I encourage all credit unions to offer affordable mortgage lending products to help their members transition from being renters to buyers, “said Vice Chairman Hood.
Vice Chairman Hood also urged credit unions to prepare for hurricane season by promoting the U.S. Department of Treasury’s GoDirect campaign to their members. “We are now officially in hurricane season,” said Vice Chairman Hood. “Based on the lessons learned from last year, it is in the best interest of credit union members to have direct access to their money and federal benefit payments in the event they may be displaced by an emergency.” For more information about the U.S. Department of Treasury’s GoDirect campaign, please visit www.GoDirect.gov
During his remarks to the Annual Meeting of First Carolina Corporate Credit Union (FCCCU), Vice Chairman Hood commended FCCCU’s service to the credit union system in the region and also discussed his support of a risk based capital structure for credit unions. “Corporate credit unions are a reliable and valuable partner for credit unions of all sizes and I commend them for the work they do to strengthen the credit union system,” said Vice Chairman Hood.
“The successful performance of FCCCU and other corporate credit unions promotes the case for the implementation of a risk-based capital structure for corporate credit unions and I will work tirelessly as your regulator to ensure that this is accomplished while maintaining the safety and soundness of the credit union system,” stated Vice Chairman Hood.
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 nearly 85 million account holders in all federal credit unions and many state-chartered credit unions. NCUA operations are funded by credit unions, not tax dollars. |
