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News Now

Washington
On video Hood on CUs in turbulent times
On video: NCUA’s Hood on CUs in turbulent times WASHINGTON (10/1/08)—Appearing in a polished although impromptu video, National Credit Union Administration (CUNA) Vice Chairman Rodney Hood appeared on camera recently to discuss credit union strength amidst turbulent times. Hood addressed about 75 credit union representatives affiliated with

. the NW Chapter of Credit Unions of the North Carolina CU League and recognized credit unions for their smart lending decisions in the past, and encouraged them to ”keep doing great things” for their member-owners as the economy is threatened by a financial crisis. After his speech, Hood participated in a league video in which he encouraged credit unions to “really differentiate themselves” from other financial services providers in the midst of the market turbulence. “To the degree your balance sheets and your risk tolerance levels allow, let’s continue to to make capital available and affordable to those individuals who are hard-working men and women who want their financial institutions to be there for them,” Hood said. The NCUA vice chairman also noted the strength of his agency’s National Credit Union Share Insurance Fund, which backs credit union members’ deposits by the full faith and credit of the U.S> government. Hood also touted credit unions’ strong, 11.04% net worth position.
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