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News Now

Washington
NEW NCUAs Marquis to retire end of year
ALEXANDRIA, Va. (9/24/12, UPDATED 9:45 a.m. ET)--After almost three and a half decades with the National Credit Union Administration (NCUA), Executive Director David Marquis has announced he will retire at the end of this year.

Since January 2009, Marquis' role 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."

For more, read Tuesday's News Now.


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