ALEXANDRIA, Va.–With his term expiring in August, NCUA Board Member Rodney Hood has issued a public statement. However, a source with NCUA told CUToday.info that Hood has no immediate plans to leave, and he was simply seeking to acknowledge his term is ending.
Hood, who formerly served as chairman of the agency under President Trump, is a Republican appointee, and the board currently includes two Republicans (Hood and Vice Chairman Kyle Hauptman) and one Democrat (Chairman Todd Harper). It is expected the Biden Administration will want to move quickly on a new appointee to change the balance of power on the board.
The NCUA board traditionally does not meet during August.
Quoting the Scriptures
“The scriptures remind us that to everything there is a season, and a time for Every Matter or purpose,” said Hood. “For me, I entered a new season in life in this very board room in April 2019 when I was sworn-in as the 11th chairman of NCUA. I remarked and I quote, ‘I always saw our agency’s mission in simple terms: It was about people helping people.’
“That was what steered me into my work in financial services, providing services to, and advocating for, the needs of underserved communities,” he continued. “That commitment still guides me today, and it’s the core value I bring with me to the NCUA.
Living Up to ‘Commitment’
“I hope that I have lived up to that commitment by demonstrating a fidelity to the tenets of safety & soundness while also striving to provide access to financial inclusion for the nearly 135 million members of our country’s credit union system.
“In the coming weeks, I will begin another season in my life as my term on the NCUA board concludes in August. I would like to thank Lenwood Brooks and Hallie Williams Hailey in Chattanooga for all their hard work and support in my role as Chairman and board member.”
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