Agricultural Department FeedsNCUA

WASHINGTON - (05/02/05) -- It appears to be no accident thatRodney Hood, the president's choice for the NCUA Board vacancy, iscoming from the U.S. Department of Agriculture, where he works forGilbert Gonzalez, the Department's under secretary for RuralDevelopment, previously favored for the same job before withdrawinghis candidacy more than a year ago. "It looks like it's kind of anincubator for NCUA," quipped NCUA Board member Deborah Matz,herself a former executive at the Agricultural Department beforecoming to NCUA. Hood, who heads the Department's rural housing loanprogram, is widely expected to be named soon to the NCUA Board as aso-called recess appointee, which would allow him to bypass thelengthy Senate confirmation process. Since the recess appointee canonly serve till the end of the next year of Congress--in this casethe end of 2006--one source said he expects the Bush Administrationto quickly appoint Hood to the current vacancy, then switch him tothe full six-year term (Matz's) that opens up in August. "I thinkthey're going to recess him, then flip him to the full-term," thesource told The Credit Union Journal. Hood, a Republican from NorthCarolina, has broad financial services experience, having worked asdirector of emerging markets for Wells Fargo, community developmentproject manager for Bank of America, and marketing director forNorth Carolina Mutual Life Insurance Co. "He appears to be brightand capable. I think he's going to be up to the job," said JohnMcKechnie, chief lobbyist for CUNA, who met Hood at one socialevent in Washington.