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Vice Chairman Hood Addresses the 25th Anniversary Celebration of Georgetown University Alumni and Student Federal Credit Union

February 11, 2008, Alexandria, Va. – National Credit Union Administration (NCUA) Vice Chairman Rodney E. Hood addressed the 25th Anniversary Celebration of Georgetown University Alumni and Student Federal Credit Union (GUASFCU) Saturday, February 9, 2008. Since receiving its federal charter 25 years ago, GUASFCU has grown to be the nation’s largest student-run federal credit union. 

Hood applauded the leadership of GUASFCU for their 25 years of dedication and service. He proceeded to acknowledge the importance of a student-run financial institution, particularly in regards to the sustainability of the credit union industry.

“I believe it is essential for the long-term success of the credit union industry that it start grooming its future leaders while they are still in school and are able to seek courses and internships that will prepare them for a career in credit unions,” Vice Chairman Hood said.

The Vice Chairman was also there to solicit best practices from the Georgetown credit union program to incorporate into his Blueprint 2020 Initiative. Through this initiative, Hood has been working with a group of credit union and university leaders to develop a program that fosters future credit union leadership. The goal is to draft a framework that can be used to attract well-trained and highly competent new credit union employees, board members, supervisory committee members and credit committee members.

“It is critical that as the competition for talent in the financial service industry increases, credit unions recruit younger members for leadership positions to continue the progress and growth of the credit union industry,” said Hood.

“Seeing first-hand the progress GUASFCU has made during the course of the past 25 years is incredibly inspirational. This institution remains entirely student-run; currently, with over 150 interns. This unique operation has helped to spread knowledge of the philosophy and mission of credit unions and raise the awareness of the careers available in this industry.”

In closing, the Vice Chairman thanked GUASFCU for their 25 years of service and noted that he looks forward to working with them to further develop his Blueprint 2020 initiative.

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 86 million account holders in all federal credit unions and the majority of state-chartered credit unions.

-NCUA-