WASHINGTON (8/23/13, UPDATED: 11:15 A.M. ET)--New National Credit Union Administration Board Member Richard Metsger outlined his vision for the credit union system in a private swearing-in ceremony on Capitol Hill this morning.
Richard Metsger, left, was sworn in as the National Credit Union Administration's newest board member this morning by NCUA General Counsel Michael Mckenna. Looking on is Velma Hall, Metsger's mother. Credit Union National Association President/CEO Bill Cheney attended the ceremony. (Photo provided by NCUA)
"As I said during my confirmation hearing, my vision is for NCUA to be recognized as an agency that manages its own fiscal house well, proposes regulatory action that is effectively targeted to achieve the desired outcome without placing unnecessary burdens on the credit unions themselves and, above all, maintains the confidence and trust the American public places in their local credit union," Metsger said.
Metsger, who will serve as the 20th NCUA board member, was sworn in by NCUA General Counsel Michael McKenna.
"I will do everything within my power to fulfill the trust placed in me by the president and the Congress to ensure both the integrity and the continued safety and soundness of our nation's credit union system in a rapidly changing marketplace. For me, the most important task is the continued protection of the Share Insurance Fund, which protects credit union member deposits up to $250,000, from losses," Metsger added.
Immediately following the swearing-in, Metsger was scheduled to attend a reception in his honor at Credit Union House organized by the Northwest Credit Union Association. A number of credit union leaders from throughout the system, including the Credit Union National Association and state leagues, will be in attendance.