CU Execs React to Matz Stepping Down

Lucy Ito, president and CEO of the National Association of State Credit Union Supervisors

We thank and commend Chairman Matz for leading NCUA during the biggest threat to the US credit union system in its 107-year history. More closely related to states, we acknowledge and thank her for voluntarily opening up the overhead transfer rate to public notice and comment, representing an historic step and adding to the Chairmans long-held desire to bring greater transparency to the agency. Overall, the state system appreciates Chairman Matz willingness over the years to engage with state supervisory authorities on regulatory innovations and to exchange best practices with her state agency counterparts. From our point of view, this exchange is innately healthy and ultimately leads to a stronger credit union system that makes both state and federal charters more safe, more sound, and more competitive in the broader financial services marketplace.

Cutler Dawson, president and CEO, Navy Federal Credit Union, Vienna, Va.

During her time at NCUA, Chairman Matz has been a great leader and advocate of the credit union industry. She was instrumental in helping credit unions recover from the recession, and has been a vital part of the regulatory relief and the growth associated with the industry. We wish her the best in her future endeavors.

Geoff Bacino, principal, Bacino and Associates, Alexandria, Va.

From her time with U.S. Department of Agriculture to her first term at NCUA to her time at Andrews FCU and then back on the NCUA Board, Debbie Matz has always been a stalwart defender of credit unions. Since there have been only eight chairmen of NCUA, this club is even more exclusive than the presidency.

Randy Karnes, CEO, CU*Answers, Grand Rapids, Mich.

The best thing about NCUA board member appointments is that they come to an end. Ms. Matz always appeared one step behind and always out of phase trying to enforce agendas behind the problems and oblivious to changing events. She used the potential of disasters to bolster her planned dismantling of our system and her spin on safety and soundness to break the spirit of cooperative entrepreneurs (everyday members) to ruin the system's faith in credit unions outside of the agencies' false stereotypes. We deserved better - I hope.

Mark Hawkins, President & CEO, Altura CU, Riverside, Calif.

Congratulations to Chairman Matz on her service to the NCUA.

During much of her time in the Chairman's role, America's credit unions were severely challenged by the economic events of the time. Pressures on all elements of our movement/iIndustry were highly stressful.

Looking back over that period, but trying to recognize the pressure that was also being brought to bear on the NCUA, I wish there had been a way to recognize the "uniqueness" of our not-for-profit, member-owned cooperatives. We were saddled with no access to much-needed capital during the dark days of the crisis with nowhere to turn for support, and the NCUA offered no options. We faced unprecedented challenges; Treasury was clearly in charge and offered no solutions for credit unions.

In retrospect, I wish we had had a federal regulator who could have advocated for us on the basis of our uniqueness, and who could have resurrected 208 Assistance (or something similar) from an earlier period. Had such a vehicle been made available, the damage to credit unions and their Members in certain regional and local markets might have been minimized. Unfortunately, the regulatory climate was not, and is not, conducive to such solutions. In the final analysis, to use a worn phrase It was what it was

Congratulations to all of our brethren, America's credit unions, for your efforts to survive!

Julie Kirsch, president and CEO, Meriwest CU, San Jose, Calif.

Meriwest applauds Debbie Matz on her 11 years of service and for the most recent modernization initiatives. Although surprised at the suddenness of her departure, we are hopeful the board position will be filled with an individual who will continue to listen to the voice of credit unions and work towards lessening the burden of stringent regulation.

Michael Fryzel, attorney and former NCUA Board Chairman, Chicago

Following my year as chairman of NCUA I had the opportunity to work with Chairman Matz for five years. I was pleased she embraced the programs we began to address the corporate crisis and successfully carried them out. I enjoyed our personal and working relationship and wish her every success as she moves forward.

Mandy Jones, CEO of $1.4 billion Oregon Community Credit Union, Eugene, Ore.

We are grateful to Chairman Matz for her extended service and wish her well on her next adventure. Given McWatters potential exit too, we are concerned about the timing, as it would leave only Rick Metsger on the NCUA board. Because this is an election year, appointments may be delayed and NCUA could be hindered, and therefore not able to move forward on important issues.

Dennis Dollar, principal, Dollar Associates and former NCUA Board Chairman, Birmingham, Ala.

"Every chairman has his or her critics and admirers. I had mine. Debbie has hers. As she was with me, I have been in both categories with her at times. But, regardless of the issue, I always liked and respected Debbie Matz. I enjoyed serving with her, both when we agreed and when we didn't, when she was on the board during my chairmanship. She was a resolute regulator who, whether you agreed with her or not, stood her ground. I wish her nothing but the best."