Former NCUA staffer to lead Cooperative Credit Union Association

Sarah Vega has been named the next president of the Cooperative Credit Union Association, the group announced Thursday, succeeding former CEO Paul Gentile.
Vega comes to CCUA from the National Credit Union Administration, having most recently served as chief of staff and senior policy advisor for Chairman Mark McWatters.

As previously reported, Gentile left the league – which serves credit unions in Massachusetts, New Hampshire, Rhode Island and Delaware – to become CEO of Merck Employees Federal Credit Union, a $1.9 billion-asset institution based in Rahway, N.J.

"We are excited to welcome Sarah to the association,” CCUA Chairman Bernie Winne said in a statement. “We are confident that her talents, experience and passion for credit unions will benefit our members.”

Winne is also president and CEO of the $268 million-asset Boston Firefighters Credit Union of Dorchester, Mass.

According to her NCUA profile, Vega has an extensive background in credit union law and regulation, securities law and public policy. She is a former director of the Illinois Department of Financial Institutions and also served as the administrator of the department’s credit union division, which regulates state-chartered CUs. She has served on the board of directors of the Federal Home Loan Bank of Chicago and was a member of the board of directors of the National Association of State Credit Union Supervisors.

“Sarah’s many contributions to this agency and to the financial industry over the past decade have helped create a safer, sounder, and more responsive credit union system,” NCUA's McWatters said in a statement. “She came here as the financial crisis threatened credit unions and helped guide the agency’s response. She worked diligently to make the NCUA more flexible, efficient, accountable, and effective. She built strong relationships with industry stakeholders, our sister agencies, and elected officials at the state and national levels. I congratulate Sarah on this new opportunity; I look forward to our continued relationship; and I offer my deepest thanks for her guidance and partnership.”

Prior to joining NCUA in 2008, Vega was in private law practice in Chicago, specializing in securities, mergers and product liability cases.

Vega holds a bachelor’s degree in political science and a Juris Doctorate from DePaul University in Chicago.