NC’s Herrera nominated for seat on NCUA Board seat
July 13, 2016 -- John A. Herrera has been nominated to the open seat on the NCUA Board, as President Obama Wednesday sent the nomination of the North Carolinian to the Senate to fill the opening created with the retirement in April of Debbie Matz.
Herrera is senior vice president for Latino and Hispanic Affairs at Self-Help Services, a non-profit community development financial institution in Durham, N.C., according to a White House press release. Herrera, the release stated, has held that position since 1999. According to the release, Herrera served as a commissioner for the North Carolina Credit Union Commission from 2003-10, a seven-member group whose members are appointed by the governor for a term of four years to advise on credit union matters.
Additionally, he has served on the board of the Latino Community Development Center in Durham since 2001, and co-founded the state-chartered Latino Community Credit Union in 2000. In 2013, the White House honored Herrera as an Immigrant Innovator Champion of Change.
NCUA Board Chairman Rick Metsger and Board Member J. Mark McWatters issued statements Wednesday congratulating Herrera on his nomination. Metsger stated he hoped the Senate would act quickly on the nomination; McWatters (himself a nominee to Export-Import Bank of the U.S.) wished him success “as he proceeds through the nomination and confirmation process.”
NASCUS President and CEO Lucy Ito acknowledged Herrera’s experience with credit unions, particularly with the state system. “John has long and distinguished service to the credit union community, and has worked closely with state regulators in his role as a member of the North Carolina Credit Union Commission for seven years, getting a first-hand look at the impact of state regulation. As one who has organized a state-chartered credit union, he has inside knowledge of the challenges facing new credit unions – but also an appreciation for the opportunities that a state charter can present to a growing institution. We look forward to working with him.”
Ito also said that regulators in North Carolina noted Herrera’s seven years of service on the North Carolina commission. "They said that provided him with state regulatory perspective that can serve as a healthy reality check as the NCUA Board considers the potential impact of rule-making on credit union operations." She added that NASCUS also understands that, given Herrera's leadership roles at both Self-Help Credit Union and Latino Community Credit Union, "he understands state credit union system issues, but has an understanding of the challenges faced by both state and federal charters. That insight can be most valuable the agency and its leadership, and credit unions generally. "