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Samantha: Hello, this is Samantha Shares.

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This episode covers NCUA Chairman Kyle S.

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Hauptman's opening remarks from the
February 27, 2025 Board Meeting.

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The following is an audio version
of Chairman Hauptman's first board

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meeting remarks as NCUA Chairman.

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This podcast is educational
and is not legal advice.

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We are sponsored by Credit Union
Exam Solutions Incorporated, whose

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team has over two hundred and
forty years of National Credit

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Union Administration experience.

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We assist our clients with NCUA
so they save time and money.

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If you are worried about a recent,
upcoming or in process NCUA

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examination, reach out to learn how
they can assist at MarkTreichel.com.

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Also check out our other podcast called
With Flying Colors where we provide tips

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on how to achieve success with NCUA.

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And now the Chairman's opening remarks.

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NCUA Chairman Kyle S.

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Hauptman Board Meeting Opening Remarks

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As Prepared for Delivery
on February 27, 2025

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This is my first board
meeting as Chairman.

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It's truly an honor to serve as
the thirteenth Chairman of the NCUA

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and advance priorities that promote
growth, opportunity, and innovation

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within the credit union system.

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I want to thank the President for
his trust in me, and I also want to

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thank Todd Harper for his service
through some challenging times for

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NCUA and the credit union system.

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Over the past few weeks there has been
various announcements and Executive

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Orders affecting the federal workforce.

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Some of these directives may bring
significant changes to the NCUA.

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All of us at this table understand
that change, and the uncertainty that

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accompanies it, can be challenging
for a number of parties: the credit

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union system, other stakeholders,
and most definitely NCUA employees.

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All of us at the NCUA, including
the Board, are diligently assessing

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how these announcements may affect
the NCUA, our operations, regulatory

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structures, and our workforce.

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"All of us at this table understand
that change, and the uncertainty that

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accompanies it, can be challenging
for a number of parties: the credit

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union system, other stakeholders,
and most definitely NCUA employees."

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To the NCUA employees who may be watching:
The work each of you does, day in and

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day out, keeps our credit union system
thriving and credit union members safe.

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There's also loads of
misinformation and rumor out there.

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I've spent some time recently
reading forums on Reddit that

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touch on NCUA or federal employees.

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And there's some crazy stuff out there.

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People moving money out of
banks and credit unions to buy

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Treasury bonds because they think
deposit insurance is going away.

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And that's not one of the crazier ones.

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Let's continue to stay focused on our
mission, and we --- the Board --- will

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continue to support your work as
we navigate any changes together.

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Thank you for your patience and
your dedication to the NCUA.

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One thing that struck me last week.

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Our executive director mentioned
how much NCUA staff liked seeing

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an email about this year's fee
schedule for credit unions.

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I was curious why a fairly
routine, mundane topic would

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generate a positive reaction.

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But it was precisely because it was
mundane that people reacted that way.

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A sign that the big picture hasn't
changed, NCUA business continues.

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I want to ask of my 1200 colleagues
at NCUA to reach out to me

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anytime, by phone, Teams, email.

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While we on the Board don't have any
more info on White House directives

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than anyone else, I'm happy to talk
about problems and possible solutions.

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I'll tell you what I know and don't know.

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And to the people who we work for,
the 142 million Americans who pay

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into the Share Insurance Fund: Know
that NCUA's mission is unchanged.

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There are 4500 credit unions to examine,
and most importantly, a $22 billion

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Share Insurance Fund that is the true
north for each of us on the Board.

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Our deposit insurance is unchanged,
the exams are continuing just

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the rest of our work here.

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Be assured we haven't
taken our eye off the ball.

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"There are 4500 credit unions to examine,
and most importantly, a $22 billion

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Share Insurance Fund that is the true
north for each of us on the Board."

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We're aware that uncertainty
surrounding your employer and your job

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isn't new for credit union members.

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Many credit unions were
founded by employee groups of

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companies that no longer exist.

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We're aware that most Americans,
the people who pay my salary, live

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a daily reality of uncertainty
to their work situation.

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Just four years ago, 21 million
Americans lost their jobs in one month.

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We get how the real world works.

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So just maybe grant us a bit of grace
as we adjust and work through changes.

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And again, your money is safe in
the NCUA insurance fund, and it's

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safe at NCUA-insured credit unions.

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Our NCUA staff are professionals, and
they, and credit union members, should

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know the management around here has
worked around the clock to ensure we still

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meet the needs of America's credit union
members and my outstanding NCUA coworkers.

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And finally, I know that as Chairman,
I can steer some priorities of the

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agency, but any concrete actions
will require Board approval and

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that requires some measure of
compromise on the part of all parties.

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Discussions among my colleagues
have always been in good faith

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and in the spirit of cooperation
during my tenure on the Board.

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There has been plenty of
give-and-take in negotiations.

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None of us gets everything he
or she wants, but all of us

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get some of what we wanted.

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I look forward to continuing
that collaboration with my Board

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colleagues now that I am Chairman.

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That concludes my opening remarks.

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This concludes Chairman Hauptman's
opening remarks from his first

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board meeting as NCUA Chairman.

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If your credit union could use
assistance with your exam during

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these times of change at the NCUA,
or if you have concerns about how

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recent executive orders might impact
your credit union's examination

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process, reach out to Mark Treichel
on LinkedIn, or at MarkTreichel.com.

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This is Samantha Shares and
we thank you for listening.