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Chairman Johnson to Testify Before Congress on Service to “Disadvantaged” Communities

February 23, 2007, Alexandria, Va.- National Credit Union Administration (NCUA) Chairman JoAnn Johnson has been invited to testify at a hearing before the U.S. House of Representatives Appropriations Subcommittee on Financial Services and General Government. The hearing is scheduled for Thursday, March 1, 2007 at 10:00 AM in room 2220 Rayburn House Office Building. Chairman Johnson has been asked to share insights regarding providing financial services to disadvantaged and underserved communities.

“Meeting the needs of financially underserved communities is of vital importance to the overall economic health of America and I look forward to discussing these issues during the hearing,” said Chairman Johnson. “NCUA is committed to working with Congress, and the insights gained during this hearing will shed valuable light on how to help more and more Americans enter into the financial mainstream.”

The National Credit Union Administration 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, insuring the accounts of over 85 million account holders in all federal credit unions and the majority of state-chartered credit unions. NCUA is funded by credit unions, not tax dollars.