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News Now

CU System
N C league honors retiring state regulator
RALEIGH, N.C. (11/19/12)--Credit unions and representatives of the North Carolina Credit Union League were among those honoring state regulator Jerrie K. Jay, who will retire at the end of the year after 17 years of service as the state's Administrator of Credit Unions.

North Carolina Credit Union League President/CEO John Radebaugh, left, presents state Administrator of Credit Unions Jerrie K. Jay with a state flag that flew over the state Capitol in appreciation for 17 years of service. Jay will retire on Dec. 31. (Photo provided by the North Carolina Credit Union League).
Credit unions, the league and staff of the North Carolina Credit Union Division gathered on Nov. 6 to honor Kay at a dinner, said the league (The Weekly Conversation Nov. 9).

"The dinner was an opportunity to say thank you," said John Radebaugh, league president/CEO. "North Carolina has one of the strongest and most progressive state charters in the country, and Jerrie has stood watch and fought for state charters for the past 17 years. We appreciate her work and wish her well in retirement."

Jay noted she is "proud of North Carolina credit unions--large and small. The managers and volunteers work tirelessly to enhance the lives of the citizens of North Carolina.

"North Carolina is fortunate to have bright, energetic leaders dedicated to working in the best interests of the member-owners," she said, noting she is "proud of the legacy I leave to future administrators."

The Administrator of Credit Unions is appointed by the state Secretary of Commerce. No replacement has been named yet.

Earlier this year the state regulator and the National Credit Union Administration (NCUA) expressed differences about the disclosure of a credit union's CAMEL rating by the credit union and the use of dual examinations for state chartered, federally insured credit unions. NCUA treats the CAMEL rating as confidential information. The state regulator authorized the credit union, State Employees' CU, to release its state-issued rating. NCUA discontinued coordinating exams with the state regulator and opted to begin separate exams. The league has been active in seeking a dialogue with both regulators on the matter (News Now Feb. 7).


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