ALEXANDRIA, Va.–President Barack Obama has appointed Rick Metsger as NCUA Chairman. Metsger had previously served as vice chairman and moves into the role following the departure of former Chairman Debbie Matz. Metsger becomes the ninth chairman of NCUA since it moved to a three-person board.
Metsger joined the NCUA board in August of 2013 and was named vice chairman in 2014. Prior to joining the NCUA Board, Mr. Metsger owned his own strategic communications consulting firm focused on financial services, capital construction, energy and transportation issues.
Metsger previously served for 12 years in the Oregon State Senate, where he chaired the Business and Transportation Committee and served on committees with jurisdiction in the areas of education, revenue, the judiciary, human services and consumer protection. He was a member of Oregon Senate leadership from 2009 to 2011 and was elected President Pro Tem in 2009. He has also worked as a teacher and a radio and television journalist. From 1993 to 2001, he served on the board of directors of the Portland Teachers Credit Union.
“I deeply appreciate the trust President Obama has placed in me,” Metsger said in a statement, “and I look forward to the challenges and opportunities ahead as the agency strives to protect credit union members and provide a modern regulatory framework for credit unions to innovate and grow safely and soundly. NCUA has a hard-working staff dedicated to the agency’s mission, and I am proud to serve with them.”
Board Member McWatters issued a statement saying, “I look forward to working with Rick to bring true regulatory relief to the credit union community while protecting the safety and soundness of the Share Insurance Fund.”
During his tenure as vice chairman, Metsger has focused on modernizing regulations and the federal credit union charter in order to provide credit unions with greater flexibility to innovate and grow as well as regulatory relief. Metsger led the agency’s efforts to update its regulations concerning fixed assets and credit unions’ fields-of-membership regulation, noted NCUA.
“Based on Rick Metsger’s extensive track record of thoughtful leadership and levelheaded decision making as NCUA vice chair, President Obama was presented with an easy decision when considering a replacement for former Chair Debbie Matz,” said CUNA CEO Jim Nussle in a released statement. “On behalf of America’s credit unions and the 105 million members we represent, we congratulate Rick on his new role, and we look forward to continuing our work alongside him and the rest of the NCUA board. The important work we’ve started together, such as updating field-of-membership rules and improving on the examination process--measures that will only strengthen the operating environment for credit unions—must continue.”
NAFCU congratulated Metsger on his new designation.
“We look forward to continuing our work with him and the entire agency to ensure credit unions have the best regulatory environment possible to continue their high level of service to members,” said NAFCU President and CEO Dan Berger.
A vacancy remains on the board, which now has two members along with board member McWatters, and it seems unlikely it will be filled anytime soon.