ALEXANDRIA, Va. (9/25/12)--Calling retiring National Credit Union Administration (NCUA) Executive Director David Marquis a fixture at the agency, Credit Union National Association (CUNA) President/CEO Bill Cheney said Marquis has helped define the culture there, having been involved in so many of the operational issues at NCUA during his 34 years of service.
Cheney further noted Marquis' significant role in NCUA's handling of corporate credit unions during a critical juncture, and said CUNA looks forward to working with new NCUA leadership.
The NCUA Monday announced that Marquis plans to retire at the end of the year, after filling many roles at the agency.
Since January 2009, Marquis' job at the agency has been to oversee its day-to-day as executive director. For the 14 years before that, he served as director of the Office of Examination and Insurance, where he was responsible for the safe and sound operation of the National Credit Union Share Insurance Fund (NCUSIF) and for monitoring the examination and supervision procedures at all federally insured credit unions.
Also during his 34 years at the agency, Marquis has served as a supervisory examiner, regional manager, associate regional director, regional director, and deputy director of the Office of Examination and Insurance. Marquis began his career with NCUA as an examiner in Baltimore.
"It is difficult to imagine this agency without Dave," NCUA Chairman Debbie Matz said, announcing Marquis' decision to leave in December. "Over the course of his career, Dave initiated many of the changes that enabled NCUA to protect the safety and soundness of the increasingly sophisticated credit union industry. Dave's foresight and diligence transformed NCUA's exam process to ensure that examiners have the requisite expertise, tools and training, and that exams are thorough and effective."
Since starting his career at NCUA in 1978, the credit union industry's total assets grew 1,860%, the NCUA release noted, from $51.4 billion to more than $1 trillion. Matz said Marquis' "calm and steady leadership" during the economic downturn brought him "the admiration, trust and respect of the entire agency."
NCUA board member Gigi Hyland said Marquis "cares profoundly about the health, safety and soundness of the institutions he has supervised," and noted that her policy debates with Marquis resulted in policy and regulations that appropriately protected credit unions and the NCUSIF during the recent recession.
Board member Michael Fryzel said Marquis "has done an outstanding job in every position held," and wished him "all the best in everything he goes on to do."
The NCUA said it will select the next executive director later this year.