July 5, 2018

Honors significant contributions to the state credit union system

ARLINGTON, Va. – Ron McDaniel, former president and CEO of California Credit Union in Glendale, Ca., and Sarah Vega, Chief of Staff and Senior Policy Advisor to Chairman J. Mark McWatters, are the 2018 recipients of the Pierre Jay Award, sponsored by NASCUS. 

The Pierre Jay Award was created by NASCUS to recognize individuals whose contributions have benefited the state credit union system in a significant way. Recipients of the award best demonstrate outstanding service, leadership and commitment to NASCUS and the dual chartering system.

The award is named after the first Commissioner of Banks in Massachusetts, Pierre Jay, who was appointed to the position in April 1906 and who exhibited a commitment to perseverance and service, which profoundly shaped credit union history. The Pierre Jay Award is presented annually during the NASCUS State System Summit. NASCUS first presented the Pierre Jay Award in 1997.

In addition to serving as a credit union CEO, McDaniel was a NASCUS advisory council member, where he positively impacted the organization and the state credit union system by being a voice of reason with a strong and steady commitment to finding solutions during challenging times.  McDaniel also represented credit unions for over 10 years as an Advisory Committee member of the California Department of Business Oversight. In this capacity, McDaniel advocated for important improvements in the state credit union system and encouraged his credit union colleagues to get involved as well.  

“Congratulations to Ron, who is a titan in the credit union industry and has consistently used his stature to mentor young credit union professionals and bridge divides between credit unions and regulators” said NASCUS President and CEO Lucy Ito. “I wholeheartedly agree with his colleagues who describe him as ‘a leader by example and action.’”

Prior to being named Chief of Staff, Vega served as Chairman McWatters’ Senior Policy Advisor. She previously served in the same capacity under NCUA Board Member Michael E. Fryzel, before becoming his Chief of Staff during his tenure as Board Chairman.  In her role at NCUA, Vega has been an ardent proponent of open and transparent collaboration between the agency and state regulators, most recently in refining NCUA’s Overhead Transfer Rate methodology. 

Vega is also a former Director of the Illinois Department of Financial Institutions and NASCUS chairman.  As Director, Vega contributed to the modernizing of the Illinois Credit Union Act to establish a balance between permitting credit unions to compete in a changing environment and maintaining the safety and soundness of the industry. Today, Vega’s philosophy endures, and both federal and state credit unions continue to thrive because of it. 

“Sarah has relied on her extensive background in the areas of credit union law and policy, to strengthen the relationships between federal regulators, state supervisors and credit unions” stated Ito. “She has dedicated her career to credit unions and ensuring a safe, sound and robust credit union system at both State and Federal levels.”

McDaniel and Vega will be honored at the NASCUS State System Summit, July 18, in Orlando, Fla.

For more information, see the NASCUS website at www.nascus.org/pierrejay

Information Contact:
Shelton Roulhac, Vice President, Communications, sroulhac@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.