Senate confirms McWatters to NCUA Board

Chairman Matz, Board Members Fryzel and Metsger Extend a Welcome

ALEXANDRIA, Va. (June 19, 2014) – The U.S. Senate today confirmed J. Mark McWatters as a National Credit Union Administration Board Member.

McWatters will replace Board Member Michael E. Fryzel, whose term expired Aug. 2, 2013.

“I’ve had an opportunity to get to know Mark in recent months, and I certainly look forward to his joining the Board,” NCUA Board Chairman Debbie Matz said. “Mark is experienced, thoughtful, judicious and values a collaborative process to get things done. I know credit unions and their members will be well served by his presence on the Board.”

“I extend my sincerest congratulations to Mark on his confirmation by the U.S. Senate,” Board Member Fryzel said. “I am confident his background, as well as his outstanding academic qualifications, will enable him to not only act in the best interests of the more than 97 million credit union members, but also to ensure the credit unions of this country are able to keep their competitive advantage and continue to grow and maintain their status as the premier financial service industry in the United States.”

“The agency and the credit union system will benefit from Mark’s judgment and experience,” Board Member Rick Metsger said. “I congratulate him and welcome him to the Board. I look forward to working together, and I hope he will find this job as interesting, challenging and rewarding as I do.”

“As we welcome Mark to the NCUA Board, we must say farewell to Board Member Fryzel,” Matz said. “For the last five years, I have considered Mike a partner in the agency’s efforts to contain the fallout from the corporate credit union crisis and mitigate the effects of the Great Recession. Credit unions were well served by his judgment during some very dark days, and he left the system better than he found it. I wish Mike all the best in his future endeavors.”

President Barack Obama announced his intent to nominate McWatters in December 2013. The Senate Banking Committee held his confirmation hearing March 13. The date for McWatters’ swearing in has not yet been set. Board Member Fryzel will continue to serve until that time.

NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the U.S. Government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 97 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues..


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