Next President Will Remake NCUABoard

HONOLULU - (10/27/04)—The presidential election iseasily the most hotly contended of races, and while both candidateshave offered their support of the CU tax exemption in writing, itis still race that will have huge implications for credit unions,according to CUNA’s John McKechnie. “It’s prettymuch a wash on the tax exemption, but what credit unions need tolook at, then, is what kind of executive branch style do youwant,” he told The Credit Union Journal at CUNA’sFuture Forum. “The next president will nominate two-thirds ofthe NCUA board within the first 12 months of his term.”Indeed, by the end of the next president’s term, the winnerof this election will have had the opportunity to appoint three newmembers to the NCUA board, which could mean a total“makeover” for the federal regulatoryagency.