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email: pacamail@ncua.gov
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Chairman Johnson’s Statement on Treasury Secretary Paulson’s Appointment

June 29, 2006, Alexandria, Va. -- I’m pleased that Henry Paulson has been confirmed as U.S. Treasury Secretary, a position that plays such a vital role in the nation’s economy. NCUA had an excellent relationship with Secretary Paulson’s predecessor, and based on the new Secretary’s background and experience I look forward to fostering a positive relationship on shared endeavors.

On issues as important and diverse as credit union tax exemption, prompt corrective action reform and financial literacy, there is a high degree of interaction between our two entities. This is an important relationship and we look forward to working together at the highest level.

The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, backed by the full faith and credit of the U.S. government, also operates the National Credit Union Share Insurance Fund (NCUSIF), insuring the deposits of nearly 85 million account holders in all federal credit unions and the majority of state-chartered credit unions.