NCUA Figure Added To Housing Finance Board

WASHINGTON -- The Senate last Wednesday night confirmed former NCUA Board member Geoff Bacino to the Federal Housing Finance Board, the regulator for the nation's 12 Federal Home Loan Banks. The long-time credit union figure was confirmed along with Frederic Mishkin, to the Federal Reserve Board, Edmund Moy as director of the U.S. Mint, and three nominees to the Export-Import Bank. Bacino, currently an executive with CENTRIX Financial, was among the founders of Callahan & Associates, and formerly served as head of the National Association of State Chartered CUs and of the National Association of Share Insurance Corporation. The FHLB system has become increasingly important as a source of mortgage funding for credit unions, with more than 1,000 credit unions now part of the system.