What can credit unions learn from regulators? (Part 1)
Former examiners who now serve in the credit union C-suite talk about why they switched careers and what they have to offer the cooperative movement.
The credit union regulatory environment is intended to provide safety and soundness to a movement that has nearly $2 trillion in assets and more than 125 million member-owners. For credit union leaders, compliance is a fact of life. So, too, is working with the regulators and examiners responsible for ensuring said compliance.
With good reason many former examiners now work as senior credit union executives, bringing with them connections, inside knowledge, and an understanding of what the regulator is trying to achieve. These leaders appreciate the movement’s ability to make a difference in the lives of members within its regulatory boundaries, and they have a lot to say about their experience on both sides of the table.
Jim Hayes, President/CEO, Andrews Federal Credit Union
Jim Hayes 12 years as a regulator included working as an examiner with the Office of Thrift Supervision from 1991 to 1996 and then as a capital markets specialist with the NCUA from 1996 to 2003. He joined Andrews Federal Credit Union ($2.2B, Suitland, MD) as its chief financial officer in the fall of 2010 and became its president and CEO in July 2013.
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