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NCUA Chairman JoAnn Johnson’s Statement Regarding Treasury Secretary John W. Snow

Alexandria, VA, May 30, 2006 – National Credit Union Administration (NCUA) Chairman JoAnn Johnson released the following statement regarding the resignation of John W. Snow, Secretary of the U.S. Department of Treasury.

NCUA Chairman JoAnn Johnson has released the following statement:

“Throughout his tenure, Secretary Snow has recognized and supported the important role of America’s credit unions in strengthening the economy. He has served as a steady advocate for tax relief for the American people and also for the continuation of a tax exemption for America’s credit unions. He has promoted the ownership of health care to credit union members through health savings accounts. He has assisted credit unions in fighting the financial war on terror by being sensitive to the impact of the Bank Secrecy Act, and has worked hard to ensure the protection of financial data and identity of all citizens. He has worked tirelessly in the effort to promote a culture of financial literacy, and has been a compassionate partner to credit unions as they assist in the recovery after Hurricanes Katrina and Rita. Thanks to Secretary Snow’s dedication and commitment, America’s credit unions are now better than ever fulfilling their motto of "not for charity, not for profit, but for service." I wish all the best in the future for Secretary Snow and look forward to continuing a positive working relationship with his successor."