Robert W. Rogers, deputy commissioner of Texas credit unions since March 1988, has been named commissioner over three other finalists.
The eight members of the Texas Credit Union Commission unanimously voted for Mr. Rogers.
Mr. Rogers, who starts immediately, will be the chief regulator for Texas' 302 state-chartered. federally insured credit unions, which hold assets of $6.6 billion.
Switch to Federal Insurance
He succeeds John Hale, who resigned on July 1 amid controversy over his handling of the conversion of state-chartered credit unions from private to federal deposit insurance. The conversion process began in January 1991 and was finished in May 1993. All Texas credit unions are federally insured.
James Ratzman, director of examination and supervision for the Texas Credit Union Department, said Mr. Rogers was the natural choice.
"I'm not surprised at all," Mr. Ratzman said. "He's a very capable person with quite a bit of experience in credit union management and regulation."
James Williams, senior vice president of the consulting firm Ferguson & Co. and a Texas commission member during the '70s, said Mr. Rogers' close involvement in the conversion process played a role in his getting the nod.
"He has the experience of having been through the thick and thin of a situation [the conversion of state-chartered credit unions to federal insurance] that will be a vital concern," Mr. Williams said. "I would think the commission would want someone with historical perspective to take the reins."
In 1977 Mr. Rogers began working as a state examiner for the department. By the time he left in 1980 he was a supervisory examiner. From 1980 to 1988 he worked as an executive for three credit unions, including a stint during 1984-88 as president of UARK Federal Credit Union, which serves the University of Arkansas in Fayetteville. In March 1988 he returned to the Texas department as deputy commissioner.
All four finalists, selected from a list of 13 candidates, were interviewed by the commission on Monday.
The three other finalists were Barbara Clore, president of Associated Industries Credit Union of Deer Park and former chairman of the Texas Credit Union League; Alan Ford, president of THD Seven Credit Union in San Angelo; and Sharon Moore of Dallas, former examiner with the Texas Credit Union Department.