Former Oregon legislator Rick Metsger to head federal credit union regulator
President Barack Obama has named former Oregon state Sen. Rick Metsger to be ninth chairman of the National Credit Union Administration Board.
Metsger was appointed to the NCUA Board in 2013 and has served as vice chairman since September 2014. Metsger succeeds Debbie Matz, whose tenure ended April 30.
I deeply appreciate the trust President Obama has placed in me, Metsger said. Since the time I got a loan to buy my first car from a credit union, I have understood the importance of credit unions as an affordable financial alternative for consumers. I look forward to the challenges and opportunities ahead as the agency strives to protect credit union members in our state and across the country as well as provide a modern regulatory framework for credit unions to innovate and grow safely and soundly."
NCUA is an independent federal agency that regulates, charters, supervises and insures accounts at more than 6,000 credit unions across the country, including 62 federally insured credit unions in Oregon.
"NCUA has a hard-working staff dedicated to the agencys mission, and I am proud to serve with them, Metsger said.
Metsger has worked in both the public and private sectors. He served in the Oregon State Senate from 1999 until 2011, where he was elected Senate President Pro Tempore in 2009. He was chief sponsor of legislation the state enacted to expand fields of membership for state-chartered credit unions. He was co-sponsor of legislation that resulted in the refunding of millions of dollars to utility consumers, legislation to combat payday lending, and legislation created the largest public transportation investment in Oregons history.
According to the Monday NCUA press release announcing the appointment, during Metsger's tenure as NCUAs vice chairman, he "focused on modernizing regulations and the federal credit union charter in order to provide credit unions with greater flexibility to innovate and grow as well as regulatory relief. Metsger led the agencys efforts to update its regulations concerning fixed assets and credit unions fields-of-membership regulation. "
Metsger also served on the Oregon State Treasury Deficit Policy Advisory Commission and as a director of Financial Beginnings, a non-profit organization providing financial education to children and young adults.
Before being elected to the Oregon senate, Metsger was a teacher and broadcast journalist. He was also a member of the board of the Portland Teachers Credit Union for eight years, rising to the office of vice chairman.
Metsger holds a bachelors degree in communications and a masters degree in teaching from Lewis and Clark College in Portland, Oregon.
NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 102 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.