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NCUA Chairman JoAnn Johnson’s Statement Regarding SBA Administrator Hector Barreto

Alexandria, VA, April 25, 2006 – National Credit Union Administration (NCUA) Chairman JoAnn Johnson released the following statement regarding the resignation of Hector V. Barreto, Administrator of the U.S. Small Business Administration (SBA).

NCUA Chairman JoAnn Johnson has released the following statement:

"Throughout SBA Administrator Hector Barreto’s distinguished tenure, NCUA has shared a partnership with SBA which greatly increased opportunities for credit unions to provide access to capital and credit for small business owners. Under Administrator Barreto's leadership, America’s credit unions gained access to the 7(a) loan guarantee program and helped assist victims of Hurricanes Katrina, Rita, and Wilma through the “Give a Lending Hand” initiative. These programs empowered credit unions to harness America’s entrepreneurial spirit while helping many small businesses achieve their American Dream. As NCUA Chairman, I have made regulatory flexibility for member business lending a priority and have appreciated a close working relationship with Administrator Barreto and the entire SBA team. I wish all the best in the future for Administrator Barreto and look forward to continuing a positive working relationship with his successor." 

-NCUA Chairman JoAnn Johnson