WASHINGTON-NCUA Board Member Gigi Hyland made her point just by walking onto the GAC stage with her hand-picked music blasting: "It's The End Of The World As We Know It," by REM.
"It is the end of the world as we know it," Hyland said, "and it's time for credit union to move forward again."
Predicting not only a difficult 2010 but even a tough 2011 and 2012, Hyland outlined several priorities she believes credit unions - and NCUA - should focus on:
• Member Business Lending - Hyland supports lifting the MBL cap but added, "We need to have the proper due diligence and the regulatory safeguards in place to make sure those loans are done right."
• Capital Reform - Hyland, who supports reforms to prompt corrective action and access to some form of alternative or supplemental capital for CUs, promised that long-awaited white paper on alternative capital will be out soon.
• CU Volunteers/Board Members - "You volunteers set the strategic direction for your credit union," Hyland said. "You are not a rubber stamp for management." She urged board members to be willing to step aside so that other members can step up to serve, as this is the only way to ensure boards remain representative of the membership.
