Minnesota Credit Union CEOs discuss issues and opportunities with NCUA Vice Chairman Rick Metsger
Wednesday, September 30, 2015
ST. PAUL, Minn. – 25 credit union CEOs from around the state, along with representatives from the Minnesota Department of Commerce and NCUA, had a frank conversation on Friday with NCUA Vice Chairman Rick Metsger. Organized by the Minnesota Credit Union Network and hosted by Wings Financial Credit Union, Apple Valley, the roundtable event provided an open format for CEOs to discuss various issues, obstacles and opportunities their credit unions face.
Questions and comments from CEOs ranged in topic from Risk-Based Capital and field of membership concerns, to member business lending and cybersecurity. Credit unions are encouraged by the NCUA to understand the risk these issues bring to their balance sheets, and then manage that risk. “The most important letter in CAMEL is ‘M’,” said Metsger.
Metsger noted he is hopeful the NCUA will have a final Member Business Lending (MBL) regulation issued within the next three months. He also shared his thoughts on how NCUA’s field of membership initiative may evolve. Some changes he would like to see include providing federally chartered credit unions “multiple [field of membership] options to accomplish what you want to do with your strategic plan.”
The NCUA budget was also discussed. Metsger noted the efforts his department has taken to improve efficiencies where they can, and use technology to make things easier on both examiners and credit unions. He encouraged credit unions to review the NCUA budget online and make suggestions and recommendations.
“We are fortunate to have the opportunity to have a frank and honest conversation with our head regulatory agency,” said Mark Cummins, Minnesota Credit Union Network President and CEO.
Metsger encouraged future dialogue. As displayed in the updates recently made to the Risk Based Capital Rule “your comments do make huge differences,” said Metsger.
Following the roundtable, Metsger toured Star Choice Credit Union at its Bloomington headquarters.
President Barack Obama nominated Rick Metsger to serve on the Board of the National Credit Union Administration on May 16, 2013. The United States Senate confirmed Mr. Metsger on August 1, 2013, and he took the oath of office on August 23, 2013.
Prior to joining the NCUA Board, Mr. Metsger owned his own strategic communications consulting firm focused on the areas of financial services, capital construction, energy and transportation. He served for 12 years in the Oregon State Senate, where he chaired the Business and Transportation Committee and was elected President Pro Tem in 2009. He worked extensively in areas of financial services, taxation, and consumer protection policy, and served on the Oregon State Treasury Debt Policy Advisory Commission.
In addition to consulting and public service, Mr. Metsger has 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.
The Minnesota Credit Union Network is the statewide trade association that works to ensure the success, growth and vitality of Minnesota credit unions. With nearly $20 billion in assets, Minnesota credit unions are local, trusted financial cooperatives that serve more than 1.6 million members at 400+ locations around the state. As not-for-profit institutions, credit unions give back to the communities they serve. For more information, visit www.mncun.org.