WASHINGTON—The Defense Credit Union Council said it supports the nomination of John Crews to serve on the National Credit Union Administration board and plans to closely monitor his confirmation hearing before the Senate Banking Committee this week.
America’s Credit Unions has also expressed support for the nomination.
Speaking during a call with reporters, DCUC Chief Advocacy Officer Jason Stverak said the organization believes Crews’ experience in Congress and at the Treasury Department has demonstrated a willingness to engage with stakeholders across the financial-services industry.
“While we may not agree on every issue, we are confident he will ensure all perspectives are heard while providing strong leadership at the agency,” Stverak said.
What It’s Hoping to Hear
DCUC said it will be listening for Crews’ views on preserving the strength of the National Credit Union Share Insurance Fund, the future direction of the NCUA, whether he intends to continue deregulatory efforts begun under current board leadership, and how he plans to support smaller credit unions through regulatory relief.
The organization also said it is interested in Crews’ position on potential updates to the Federal Credit Union Act, including expanding share-insurance coverage for nonmembers, an issue it said has long been important to defense credit unions.
Comments Submitted on CU-to-Bank Conversions
Separately, DCUC announced it submitted comments to the NCUA regarding proposed revisions to the agency’s credit union-to-bank merger regulations. While supporting the elimination of what it called outdated and unnecessary regulatory requirements, the organization urged the agency to retain provisions that promote informed member decision-making, board accountability and transparency when a credit union seeks to convert to a bank charter.
DCUC also said it filed comments in response to the NCUA’s request for information on streamlining data collection requirements for federally insured credit unions and plans to attend this week’s NCUA board meeting.
