PRESS RELEASE

August 21, 2009

NASCUS Welcomes Vermont State Regulator as Chairman, Announces Board of Directors

BOSTON, Mass. — At the 2009 NASCUS Annual Meeting on August 21, the successful tenure of NASCUS Chairman George Reynolds (GA) officially came to an end and was assumed by Vermont state regulator Thomas Candon, who will lead NASCUS as its Chairman for a two-year term.

Candon has served as deputy commissioner of the Vermont Department of Banking, Insurance, Securities and Health Care Administration since 1993. He also serves as the agency's Deputy Commissioner of Securities. Prior to this appointment, he spent 13 years in various roles at a Vermont bank.

"I am enthusiastic about serving state regulators as NASCUS Chairman," said Candon. "Past Chairman George Reynolds has made significant progress toward NASCUS' goals and I intend to continue our forward path and represent the state system to the best of my ability."

The NASCUS Board of Directors for 2009-2010 was also announced at the meeting. Jerrie Jay, the Administrator of the North Carolina Division of Credit Unions, and Immediate Past Chairman Reynolds, senior deputy commissioner of the Georgia Department of Banking and Finance, were re-elected to three-year terms on the NASCUS Board.

Jay and Reynolds join current NASCUS Board members Suzanne Cowan, director, Wisconsin Office of Credit Unions; Linda Jekel, director of credit unions, Washington Department of Financial Institutions; James Forney, director, Iowa Department of Commerce; Roger Little, deputy commissioner, Michigan Office of Financial and Insurance Services; and Orla Beth Peck, supervisor of credit unions, Utah Department of Financial Institutions.

Chairman Candon also re-appointed Mary Hughes, financial institutions bureau chief of the Idaho Department of Finance, to a second one-year appointment on the NASCUS Board, which completes the nine-person governing body of NASCUS.

At the Annual Meeting, NASCUS President and CEO Mary Martha Fortney welcomed Candon to the Chairmanship of NASCUS and thanked Immediate Past Chair Reynolds for his service to NASCUS. "George has improved this organization and guided us to major accomplishments during his chairmanship," said Fortney. "He leaves a strong and vibrant regulators association for incoming Chairman Candon and the NASCUS Board of Directors."

The NASCUS Board also elected its officers. Peck is the Chairman-elect and Cowan will serve as Secretary/Treasurer.

To visit NASCUS, go to www.nascus.org.


Information Contact:
Kate Hartig, VP, Public Relations and Legislative Affairs, (703) 528-0669 or kate@nascus.org
The NASCUS mission is to enhance state credit union supervision and advocate a safe and sound state credit union system.