WASHINGTON -
Though each of the three seats carries a six-year term, it seems that every fours years or so is when one or more of the terms expire, fueling speculation throughout the credit union movement.
Among the questions being pondered are: will Chairman Johnson leave and return home to Iowa when her term is up: or will she stay on as a so-called holdover until a successor is confirmed by the Senate. In recent cases, NCUA board members have agreed to serve as holdovers, some for as long as two years after their terms have expired.
Another question is whether the Bush administration will bother to nominate successors to open federal appointments because of the expectation the Democratic Senate will hold them up as the presidential elections approach. The question of politics was neutralized the last time when both Republican Rodney Hood and Democrat Gigi Hyland were nominated together.
Some have suggested that Hood, who still has more than two years on his term, could be designated chairman by the Bush administration.
The impending elections are sure to put a hitch in any succession plans.
Over the next few months candidates are expected to float their candidacies in a variety of ways.
