For Details, Contact:
External Affairs
email: pacamail@ncua.gov
Fax: (703) 518-6409

Hood Asks Alaska Credit Unions To Continue To Make Credit Available

May 2, 2008, Alexandria, Va - National Credit Union Administration (NCUA) Vice Chairman Rodney E. Hood addressed the Alaska Credit Union League’s Annual Conference in Juneau, AK.  Mr. Hood thanked the League for his invitation and noted how appropriate it was for this year’s conference to be held in Juneau while the local area is in the midst of an energy crisis.  He went on to acknowledge that the current energy crisis in Juneau is one of the many examples of credit union members needing access to capital during a broader, nation-wide financial crisis.

Hood continued by thanking the members of the True North Federal Credit Union for their 60 years of dedicated service.  “I am delighted to be part of this wonderful celebration and would like to commend you all for reaching this remarkable milestone.  For the past 60 years True North Federal Credit Union, in conjunction with the Alaska Credit Union League, have exemplified the philosophy of ‘people helping people’ by using their combined assets of over $5 billion to make a difference in the lives of over 300,000 loyal customers,” said Hood.

With the average cost of owning a home at roughly $250K, the Alaska Credit Union League continues to make homeownership a reality for many of their members.  “Homeownership in America remains paramount to building sustainable wealth and creating strong, viable communities.  I am thrilled to learn that, during this time of economic uncertainty, the credit union’s in Alaska are continuing to make capital available to those who need it most, when they need it most and perpetuating homeownership even in areas where the cost of living is greater,” said Mr. Hood 

The Vice Chairman further praised the Alaska Credit Union League for their assistance in providing relief to those struggling with the wide-spread power outage as a result of the recent avalanche.  In closing, Hood thanked the League for everything they are doing to promote the credit union industry and called on each of them to continue being part of the solution to current hardships within their local economy.

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.