HONOLULU—Rick Metsger told directors attending NAFCU’s Annual Conference here that their positions are just as important as the role NCUA plays in regulating the credit union system.
“Who is the number-one regulator of credit unions? It’s not me, it’s you—those on the boards and supervisory committees of credit unions,” said the NCUA board member who has served on two CU boards prior to joining the agency. “You are the regulator, the first line of defense at the CU. So we are similar—your job is making sure that your credit union is here today, tomorrow and in ten years to meet the needs of your members and become their preferred financial partner.”
Metsger emphasized the importance of the roles directors play no matter the size of their organization.
“One thing is universally important—your members rely on you to meet their financial services needs regardless of your size,” he said. “They don’t think about the size of your credit union when they come to you for a loan or a checking account.”
With one proposal earlier this year calling for NCUA to be swept under the congressional appropriations process, Metsger emphasized the importance of NCUA remaining an independent financial regulator and that the agency will continue to work to remain independent, and not be “thrown into the entire banking system with all the other regulators that don’t understand the importance of credit unions. This is an important directive of the agency.”
Metsger, whose term officially ends in August, looked back at the regulatory and internal process improvements the agency has made, not only to help CUs grow, but to also streamline how the agency and CUs work together.
“When I become chairman, I focused on continual quality improvement at the agency, looking at how we do everything. And that review process is still -underway,” he said.
Metsger spoke about how that perspective has led to extending the exam cycle for well-run credit unions, and the new FOM and MBL rules.
Metsger said the agency is focused on efficiency. He spoke about improvements NCUA is making in its online solutions to not only make it easier for CUs to report into the agency, but to also find ways to do more with examinations remotely.
“So we can be less intrusive to your credit union,” said Metsger, who noted that the agency’s efforts to improve its e-systems should be complete within the next two years.
Metsger, who like NCUA Acting Chairman J. Mark McWatters one day earlier, had praise for his fellow board member, said that one of the things he is most pleased about during his tenure on the board is how the agency’s staff has stepped up to contribute ideas.
“I am pleased that our staff has really grasped our desire to move the agency forward and to hear their ideas,” he said. “We have empowered our staff to give us their best ideas. Staff are not afraid to come out and say, ‘Hey, maybe would should change this,’ or, “I heard this idea out in our region. So, what about doing it?’”
“My term is ending soon, and just as I came and as I go out, I believe the board of directors’ job is so important to the credit union system,” said Metsger. “As a regulator my commitment has been to give your credit union the tools to meet the needs of your members. And I am very proud of the passion and dedication you have brought to the table, and to have served with you.”