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July 2, 2008 - As her term comes to an end, NASCUS and state regulators would like to thank National Credit Union Administration (NCUA) Chairman JoAnn Johnson for her commitment to the dual chartering system during her service on the NCUA Board and as its Chairman.
The Senate confirmed NCUA Board nominee Michael E. Fryzel last week. Fryzel will follow Johnson as NCUA Chairman; her term ended August 2007.
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| NCUA Chairman JoAnn Johnson and NASCUS Chairman George Reynolds (GA) at a March 2008 hearing on credit union regulatory relief legislation. (Photo by Ben Anderson) |
Chairman Johnson was diligent in her efforts to meet with NASCUS leadership and state credit union regulators during her term as both a Board member and as Chairman. She spoke often at NASCUS annual conferences and was very instrumental in efforts to restore the NCUA/NASCUS State Regulators National Meetings. She recognized the importance of regulator-to-regulator discussion and made it a priority to meet with state regulators whenever possible.
“It was an great honor and a privilege to work with Chairman Johnson during my time on the NASCUS Board and particularly during the past year that I have served as Chairman,” said NASCUS Chairman George Reynolds, senior deputy commissioner, Georgia Department of Banking and Finance. “She has always facilitated open communication and dialogue between the NCUA and NASCUS and recognized that federal and state regulators are partners in facilitating credit union safety and soundness. She leaves a lasting legacy of dedicated public service to the credit union system, and to the agency which she served so ably as Chairman.”
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| NCUA Chairman JoAnn Johnson and NASCUS' Immediate Past Chairman Linda Jekel (WA) sign the revised NCUA/NASCUS Document of Cooperation in July 2007. (Photo by Kate Hartig, NASCUS) |
In July 2007, Chairman Johnson signed the revised Document of Cooperation on behalf of NCUA along with NASCUS’ Immediate Past Chairman Linda Jekel, director of the Washington Division of Credit Unions. The signing of a revised NASCUS/NCUA Document of Cooperation demonstrated state and federal regulators’ commitment to continuing to work together to maintain safety and soundness.
“Chairman JoAnn Johnson's excellent leadership helped the credit union system successfully navigate through many challenges facing federally insured credit unions during her years in office. She always kept an open door for NASCUS and its regulator members to discuss examination and supervision issues,” said Jekel. “Further, we both agreed that the dual chartering system is critical for credit unions’ flexibility to innovate while maintaining high safety and soundness standards. Her chairmanship will be remembered for her contributions to the improvement of the credit union system.”
Mary Martha Fortney, NASCUS President and CEO, further expressed the association’s appreciation for Johnson’s leadership during her tenure at NCUA. Fortney presented Johnson with an award of appreciation on July 2 recognizing her dedication to the credit union system. “NASCUS and state regulators sincerely appreciate Chairman Johnson’s attentiveness to state regulatory and credit union issues. We have benefited from the many regulator-to-regulator discussions over the years,” said Fortney. “NASCUS thanks Chairman Johnson for her commitment to state and federal regulator cooperation and wish her well in her future endeavors.”
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