National Credit Union Administration Chairman JoAnn Johnson defended her agency after a federal judge in Utah said last week that it had acted improperly in letting a credit union expand its community charter to six counties.
Ms. Johnson said Wednesday in a news release that she wanted to "reaffirm my steadfast belief that the NCUA's field-of-membership rules are consistent with the Federal Credit Union Act."
Referring to the case in dispute and similar approvals, she said, "I supported the credit unions' field-of-membership applications and the ability to serve their membership."
Ms. Johnson also said that, in accordance with Judge Dale A. Kimball's wishes, the NCUA would conduct a more thorough analysis of the initial and subsequent applications "to supplement the record."
