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

CHAIRMAN JOHNSON ANNOUNCES CREATION OF TASK FORCE ON NCUA OUTREACH EFFORTS HEADED BY BOARD MEMBER HYLAND

Alexandria, VA, November 17, 2006 -- Chairman JoAnn Johnson today announced the creation of a new task force to be headed by Board Member Gigi Hyland to provide a better understanding of and evaluation of the NCUA’s outreach efforts. The creation of the Outreach Task Force is in further response to the findings in the agency’s recently released Member Service Assessment Pilot Program: A Study of Federal Credit Union Service. The MSAP was compiled in response to a request from the Government Accountability Office (GAO) and the House Ways and Means Committee.

The MSAP specifically recommended that the NCUA Board:  1.) evaluate the effectiveness of NCUA programs focused on assisting low and moderate income individuals; 2.) consider the enhancement and full utilization of the system to monitor FCUs receiving benefits under the CDRLF program; and 3.) consider reassessment of NCUA’s formula for determining if an FCU qualifies for low-income designation. In addition, the Task Force will be asked to assess the agency’s current role and efforts with respect to credit union service to their members, including financial literacy and alternatives to predatory lending practices.

“Board Member Hyland’s background in the credit union industry will be crucial in helping her provide the full Board with guidance on these very important issues,” according to Chairman Johnson. “The MSAP offered the Board the opportunity to view a picture of how the agency and credit unions are doing with respect to serving members and communities. I view the Task Force as the next step in trying to complete this picture.”

“I want to thank Chairman Johnson for the opportunity to head this important Task Force,” Board Member Hyland said. “Its results could help paint a road map for credit unions in their efforts to provide their members the best service possible and to ensure that they are serving all segments of their particular fields of membership,” said Hyland, who is completing her first year of service on the Board.

Details on the composition of the Task Force and other issues regarding its scope and timing are still under consideration.

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.