Vice Chairman Hood Visits Nebraska Credit Unions and Delivers Keynote Address at the Omaha Chapter Meeting
March 10, 2009, Alexandria, VA – National Credit Union Administration (NCUA) Vice Chairman Rodney E. Hood toured local credit unions in Omaha, NE while in town to deliver the keynote address at the Omaha Chapter Meeting. Before attending the Chapter Meeting, Hood took the time to tour four local credit unions: Gallup Federal Credit Union, Strategic Air Command (SAC) Federal Credit Union, Omaha Federal Credit Union, and Omaha Police Federal Credit Union.
During the tour, Mr. Hood was able to gain firsthand knowledge of the latest products and services being made available to members in order to assist with financial burdens resulting from this turbulent economic climate.
“It is extremely encouraging to see the innovative products and services being brought to the credit union market here in Omaha,” said Hood. He went on to note that each credit union was finding unique ways to offer affordable loans, even in the midst of what appeared to be a nationwide credit freeze. “As a credit union regulator, it is quite rewarding to see our financial institutions continuing to work with their members to make credit available,” said Hood.
Through partnering with various low-cost service providers, while remaining focused on the critical importance of making available the necessary tools to ensure the financial literacy of their members, credit unions such as these are not contributing to the national credit crunch. Information about their services is available on the individual credit unions websites.
Omaha Police FCU, Mary Johnson, President; John Friend, Board of Directors Secretary;
Rodney Hood, NCUA Vice Chairman; and Eric Buske, Board of Directors Vice Chairman
In his keynote address to the Omaha Chapter Meeting, Vice Chairman Hood discussed the issues facing the financial services arena in light of the unstable economy, and the steps the NCUA Board has taken to ensure the safety and soundness of the credit union industry. Hood concentrated on the Corporate Stabilization Program, the “Making Home Affordable” Loan Modification Program, and the recent modifications made to the NCUA Call Report.
Detailed information about each of these programs can be found on the NCUA website at www.ncua.gov.
Following his speech, Hood answered questions regarding specific issues credit unions are encountering as a result of the recently enacted stabilization efforts. Mr. Hood applauded the Nebraska League for taking a proactive approach to provide their members with information in an effort to maintain open lines of communication.
The Vice Chairman left the meeting with a positive message…“At this time I feel it is imperative to look into the future with confidence and recognize the opportunities facing the credit union industry. There has never been a better occasion for credit unions to demonstrate our mission of People Helping People.”
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 89 million account holders in all federal credit unions and the majority of state-chartered credit unions.
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