ALEXANDRIA, Va. — President Obama named National Credit Union Administration Vice Chairman Rick Metsger on Monday to be the ninth chairman of the credit union regulator's board.
Metsger succeeds Debbie Matz, who
Credit unions are watching the now two-member board closely since Matz, who was chairman for more than six years and had been serving as a holdover since her term expired in April 2015, unexpectedly announced she was resigning. As a result, several key initiatives, including a plan to ease credit unions' access to supplemental capital, seem
Meanwhile, earlier this year President Obama
Metsger joined the NCUA board in August 2013. The board unanimously elected him as vice chairman in September 2014.
During his tenure as vice chairman, Metsger is credited with being focused on modernizing regulations and the federal credit union charter with the goal of providing credit unions with greater flexibility to innovate and grow, as well as regulatory relief. NCUA on Monday noted Metsger led the agency's efforts to update its regulations concerning fixed assets and credit unions' fields-of-membership regulation.
"I deeply appreciate the trust President Obama has placed in me," Metsger said in a statement, "and I look forward to the challenges and opportunities ahead as the agency strives to protect credit union members and provide a modern regulatory framework for credit unions to innovate and grow safely and soundly. NCUA has a hard-working staff dedicated to the agency's mission, and I am proud to serve with them."
Reaction was swift following the announcement of Metsger's appointment, including a statement by the sole remaining NCUA board member.
"Congratulations to Rick on his appointment by President Obama as Chair of the NCUA," Board Member McWatters said. "I look forward to working with Rick to bring true regulatory relief to the credit union community while protecting the safety and soundness of the Share Insurance Fund."
Both main credit union trade groups also congratulated Metsger.
Dan Berger, president and CEO of the National Association of Federal Credit Unions, said: "NAFCU congratulates Mr. Metsger on his new designation, and we look forward to continuing our work with him and the entire agency to ensure credit unions have the best regulatory environment possible to continue their high level of service to members."
Jim Nussle, president and CEO, of the Credit Union National Association noted that Metsger had an "extensive track record of thoughtful leadership and level-headed decision making as NCUA vice chair, President Obama was presented with an easy decision when considering a replacement for former Chair Debbie Matz."
"[W]e look forward to continuing our work alongside [Metsger] and the rest of the NCUA Board. The important work we've started together, such as updating field-of-membership rules and improving on the examination process — measures that will only strengthen the operating environment for credit unions — must continue."
Metsger has worked in both the public and private sectors. Prior to joining the NCUA board, Metsger served in the Oregon State Senate from 1999 until 2011. He was elected Senate President Pro Tempore in 2009. During his Senate service, he was chief sponsor of legislation the state enacted to expand fields of membership for state-chartered credit unions.
Metsger also served on the Oregon State Treasury Deficit Policy Advisory Commission and as a director of Financial Beginnings, a non-profit organization providing financial education to children and young adults.
A former teacher and broadcast journalist, Metsger was a member of the board of Portland Teachers Credit Union for eight years, rising to the office of vice chairman.
Metsger holds a bachelor's degree in communications and a master's degree in teaching from Lewis and Clark College in Portland, Ore.
