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Board Member Hyland Meets with SBA Officials

Alexandria, VA, June 13, 2006 -National Credit Union Administration (NCUA) Board Member Gigi Hyland, today met with top U.S. Small Business Administration (SBA) officials to discuss how to collaborate on a regulatory level to encourage credit union participation in applicable SBA programs. Board Member Hyland is the NCUA Board liaison to the SBA.

Board Member Hyland met with Michael W. Hager, Associate Deputy Administrator for Capital Access, and James W. Hammersley, Director, Loan Programs Division. The dialogue focused on SBA’s efforts to enhance existing programs as well as potential collaborative efforts, such as a webinar, to provide informative materials to credit unions on becoming an SBA approved lender.

“We appreciate opportunities to enhance our good working relationship and explore areas for collaboration between NCUA and SBA,” stated Board Member Hyland. “The nation’s credit unions have a resource in SBA for their member business loan guarantees. I encourage credit unions to consider the potential partnership opportunities with the SBA, as we continue to facilitate information exchange for the benefit of credit unions’ member business lending efforts.”

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