Otsuka Confirmed to NCUA Board

On Dec. 20, 2023, Tanya Otsuka was confirmed by the U.S. Senate to become a member of the NCUA Board.

Board Member Otsuka will begin her term of service as soon as she takes the oath of office. She will become the first Asian American to serve on the NCUA Board and replace Board Member Rodney E. Hood, whose term expired in August 2023.

Otsuka said she was honored to be nominated for the position. She added, “The NCUA’s mission of ensuring a strong system of cooperative credit is one that resonates with me both personally and professionally.”

“Like my grandparents, many Japanese Americans faced the same struggle, and were often met with discrimination when they tried to deposit money or get a loan,” Otsuka said. “Some took matters into their own hands, forming a credit union so that Japanese Americans could access financial services and help each other rebuild their lives. Today, that credit union is still active and insured by the NCUA. Experiences like this embody the cooperative spirit and exemplify the important role that credit unions play in our communities and economy.”

She added, “One priority I would like to focus on if confirmed, however, is to make sure that credit unions, especially smaller ones, can continue to stay competitive and provide affordable financial services to their members in a constantly evolving financial system. Small credit unions serve a lot of areas of this country that do not have access to financial services in the same way as other parts of the country, so I think that’s really critical to the strength of our overall economy.”*

President Joseph R. Biden announced the nomination of Otsuka on September 21. The U.S. Senate Banking, Housing, and Urban Affairs Committee held its confirmation hearing on October 19.

Otsuka’s term on the NCUA Board will run through August 2, 2029.

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“Tanya brings a deep dedication to public service and many years of financial services law and policy experience to this important role,” Chairman Harper said. “Moreover, she’s hardworking, insightful, and committed to building a financial services system that works fairly for all Americans. I look forward to working alongside Tanya on the NCUA Board to strengthen the U.S. financial system while protecting consumers and expanding access to safe, fair, and affordable financial products and services.”

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“Congratulations to Ms. Tanya Otsuka on her unanimous confirmation to serve on the National Credit Union Administration Board. Her confirmation is also historic, Ms. Otsuka will be the first Asian American to serve on the NCUA Board in the agency’s 53 year history. Ms. Otsuka has impeccable credentials and will be an asset to the Board and a strong voice for consumers. Since 2020, she has served as a trusted advisor to me. Her colleagues on the Banking and Housing Committee will truly miss her.” U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs

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“We congratulate Ms. Otsuka on her confirmation to the NCUA board, and share her goals of enhancing credit unions’ ability to serve their communities,” said CUNA President/CEO Jim Nussle. “We look forward to working together with her on the critical issues facing credit unions as we look for new and better ways to serve our nearly 140 million members.”