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Johnson to stay at helm 'til August

ALEXANDRIA, Va. (7/3/08)—JoAnn Johnson is expected to stay in her position as chairman of the National Credit Union Administration (NCUA) until Aug. 1 and will be the one to lead the next open board meeting July 24.

At a farewell gathering of credit union representatives held at the agency headquarters here Wednesday, Johnson said she has agreed to stay on at the agency until the first of August so her successor, Michael Fryzel, can wrap up any pending personal matters.

Fryzel was confirmed by the Senate last week to fill a vacancy that will be created with the exit of Johnson. He has not yet been sworn in. President George W. Bush has indicated he will designate Fryzel as chairman.

At the sendoff, Credit Union National Association President/CEO Dan Mica commended Johnson for her concern for credit union members and her appreciation of the credit union system during her tenure on the NCUA board. Johnson has served for six years, and has been chairman for the final four.

In what was called "a moving tribute" by a participant, NCUA Executive Director Leonard Skiles described the close working relationship the departing chairman has had with the agency staff.

Johnson has said that when she leaves the NCUA, she looks forward to returning to "my family, and my roots, in Iowa." The NCUA staff presented Johnson with a certificate for a new sewing machine to greet her when she arrives home.