Samantha: Hello, this is Samantha Shares.
This episode covers NCUA Chairman Kyle S.
Hauptman's opening remarks from the February 27, 2025 Board Meeting.
The following is an audio version of Chairman Hauptman's first board
meeting remarks as NCUA Chairman.
This podcast is educational and is not legal advice.
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And now the Chairman's opening remarks.
NCUA Chairman Kyle S.
Hauptman Board Meeting Opening Remarks
As Prepared for Delivery on February 27, 2025
This is my first board meeting as Chairman.
It's truly an honor to serve as the thirteenth Chairman of the NCUA
and advance priorities that promote growth, opportunity, and innovation
within the credit union system.
I want to thank the President for his trust in me, and I also want to
thank Todd Harper for his service through some challenging times for
NCUA and the credit union system.
Over the past few weeks there has been various announcements and Executive
Orders affecting the federal workforce.
Some of these directives may bring significant changes to the NCUA.
All of us at this table understand that change, and the uncertainty that
accompanies it, can be challenging for a number of parties: the credit
union system, other stakeholders, and most definitely NCUA employees.
All of us at the NCUA, including the Board, are diligently assessing
how these announcements may affect the NCUA, our operations, regulatory
structures, and our workforce.
"All of us at this table understand that change, and the uncertainty that
accompanies it, can be challenging for a number of parties: the credit
union system, other stakeholders, and most definitely NCUA employees."
To the NCUA employees who may be watching: The work each of you does, day in and
day out, keeps our credit union system thriving and credit union members safe.
There's also loads of misinformation and rumor out there.
I've spent some time recently reading forums on Reddit that
touch on NCUA or federal employees.
And there's some crazy stuff out there.
People moving money out of banks and credit unions to buy
Treasury bonds because they think deposit insurance is going away.
And that's not one of the crazier ones.
Let's continue to stay focused on our mission, and we --- the Board --- will
continue to support your work as we navigate any changes together.
Thank you for your patience and your dedication to the NCUA.
One thing that struck me last week.
Our executive director mentioned how much NCUA staff liked seeing
an email about this year's fee schedule for credit unions.
I was curious why a fairly routine, mundane topic would
generate a positive reaction.
But it was precisely because it was mundane that people reacted that way.
A sign that the big picture hasn't changed, NCUA business continues.
I want to ask of my 1200 colleagues at NCUA to reach out to me
anytime, by phone, Teams, email.
While we on the Board don't have any more info on White House directives
than anyone else, I'm happy to talk about problems and possible solutions.
I'll tell you what I know and don't know.
And to the people who we work for, the 142 million Americans who pay
into the Share Insurance Fund: Know that NCUA's mission is unchanged.
There are 4500 credit unions to examine, and most importantly, a $22 billion
Share Insurance Fund that is the true north for each of us on the Board.
Our deposit insurance is unchanged, the exams are continuing just
the rest of our work here.
Be assured we haven't taken our eye off the ball.
"There are 4500 credit unions to examine, and most importantly, a $22 billion
Share Insurance Fund that is the true north for each of us on the Board."
We're aware that uncertainty surrounding your employer and your job
isn't new for credit union members.
Many credit unions were founded by employee groups of
companies that no longer exist.
We're aware that most Americans, the people who pay my salary, live
a daily reality of uncertainty to their work situation.
Just four years ago, 21 million Americans lost their jobs in one month.
We get how the real world works.
So just maybe grant us a bit of grace as we adjust and work through changes.
And again, your money is safe in the NCUA insurance fund, and it's
safe at NCUA-insured credit unions.
Our NCUA staff are professionals, and they, and credit union members, should
know the management around here has worked around the clock to ensure we still
meet the needs of America's credit union members and my outstanding NCUA coworkers.
And finally, I know that as Chairman, I can steer some priorities of the
agency, but any concrete actions will require Board approval and
that requires some measure of compromise on the part of all parties.
Discussions among my colleagues have always been in good faith
and in the spirit of cooperation during my tenure on the Board.
There has been plenty of give-and-take in negotiations.
None of us gets everything he or she wants, but all of us
get some of what we wanted.
I look forward to continuing that collaboration with my Board
colleagues now that I am Chairman.
That concludes my opening remarks.
This concludes Chairman Hauptman's opening remarks from his first
board meeting as NCUA Chairman.
If your credit union could use assistance with your exam during
these times of change at the NCUA, or if you have concerns about how
recent executive orders might impact your credit union's examination
process, reach out to Mark Treichel on LinkedIn, or at MarkTreichel.com.
This is Samantha Shares and we thank you for listening.