PRESS RELEASE

FOR IMMEDIATE RELEASE

March 9, 2016

NASCUS PRESIDENT AND CEO LUCY ITO
ON CHAIRMAN MATZ’ RETIREMENT FROM NCUA

Thanks to Chairman Matz for leadership, OTR comment period, engagement

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 Chairman’s 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.

Information Contact:
Patrick Keefe, Vice President, Communications, pkeefe@nascus.org or (703) 528-5974

The National Association of State Credit Union Supervisors (NASCUS) is the primary resource and voice of the state governmental agencies that charter, regulate and examine the nation’s state-chartered credit unions. NASCUS membership is made up of state-chartered credit unions, state regulators and other supporters of the state credit union system. NASCUS is the only organization dedicated to the defense and promotion of the state credit union charter and the autonomy of state credit union regulatory agencies.