Kyle Hauptman's First NCUA Board Statement as Chairman
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.
We are sponsored by Credit Union
Exam Solutions Incorporated, whose
team has over two hundred and
forty years of National Credit
Union Administration experience.
We assist our clients with NCUA
so they save time and money.
If you are worried about a recent,
upcoming or in process NCUA
examination, reach out to learn how
they can assist at MarkTreichel.com.
Also check out our other podcast called
With Flying Colors where we provide tips
on how to achieve success with NCUA.
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.
