Skip to main content

NCUA Chairman Harper Welcomes Otsuka Nomination

WASHINGTON–President Biden has nominated Tanya Otsuka to serve on the NCUA board. Otsuka would fill the seat currently held by board member Rodney Hood, whose term expired in August.

Otsuka is currently senior counsel for the majority staff of the U.S. Senate Banking, Housing, and Urban Affairs Committee under Chairman Sherrod Brown (D-OH), where she has handled the committee’s work on banking and credit union issues since March 2020.  

Screen Shot 2023-09-21 at 4.41.46 PM

Tanya Otsuka

In 2019, she also served on the Committee staff through the Government Affairs Institute at Georgetown University’s Capitol Hill Fellowship Program, on detail from the FDIC, according to the White House.  

“Tanya Otsuka is a committed public servant and a well-qualified nominee to serve on the NCUA board,” said NCUA Chairman Todd Harper. “Tanya’s past work has strengthened the U.S. financial system, protected consumers, and advanced the ability of credit unions to innovate and compete. Tanya would also bring a different point of view to the work of the agency as the first Asian-American NCUA board member. If confirmed, I look forward to working with Tanya to protect the deposits of America’s nearly 138 million credit union members and to expand access to safe, fair, and affordable financial services to under-resourced communities. I hope the Senate acts quickly on her nomination.”

What's Ahead

According to Harper, over the the coming weeks Otsuka will be meeting with senior NCUA staff and begin preparations for her confirmation hearing as part of a process to be overseen by NCUA Chief of Staff Catherine Galicia and other agency offices.

"I am also very grateful for Board Member Rodney E. Hood’s continued service on the NCUA board," said Harper. "His institutional knowledge and commitment to financial innovation and inclusion are hallmarks of his leadership over the last four years. Together, we have advanced important priorities for credit union members across the country, including adoption of today’s final rule on financial innovation."

For Hood it marks the completion of his second term on the board.

Other Nominees

In addition to Otsuka, the president has also nominated:

  • Melissa G. Dalton, to be Under Secretary of the Air Force, Department of Defense
  • Andrew Plitt, to be Assistant Administrator for the Middle East, U.S. Agency for International Development
  • Spencer Bachus III, to be Member (Republican) of the Board of Directors of the Export Import Bank of the United States

CUNA Issues Statement

“We congratulate Ms. Otsuka on her nomination to the NCUA Board,’ said CUNA President/CEO Jim Nussle. “CUNA, leagues, and credit unions have plenty of work to accomplish in collaboration with NCUA, and we look forward to working with her if she is confirmed.” 

Virginia League Statement

"The Virginia Credit Union League looks forward to working with Ms. Otsuka should she be confirmed," said League President/CEO Carrie Hunt. "We are very excited to see how she will bring her talents to the credit union industry."

Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

Honoring Our Member Credit Unions Ranked Among the Top 100 in 2025

Celebrating Excellence: Honoring Our Member Credit Unions Ranked Among the Top 100 in 2025   Best-performing US credit unions of 2025 At NCOFCU, we take immense pride in the strength, resilience, and impact of our member credit unions. Today, we are thrilled to recognize and celebrate several of our members who have earned a place among the Top 100 Best Performing Credit Unions of 2025 —a testament to their unwavering commitment to service, financial stewardship, and community leadership. This achievement is not just about rankings—it reflects the daily dedication to members, the trust built within communities, and the innovation that continues to drive our movement forward. 🌟 Our Honored Members We proudly congratulate the following institutions for their outstanding performance: #7 – Long Beach Firemen's Credit Union A remarkable top-10 finish that highlights exceptional operational excellence and member value. Long Beach Firemen’s CU continues to set a high bar for perform...
Post a Comment
Read Complete Article HERE>»

Fire Police City County FCU rebrands to reflect company growth

FORT WAYNE, Ind. (WANE) – A federal credit union with a long history in the Fort Wayne area is changing its name to something that the company said Tuesday reflects its ability to serve a larger sector. Fire Police City County Federal Credit Union, founded in 1933, will go by Summit Choice Credit Union starting in April. Members and locals will start to notice new signage and aesthetic changes at each branch throughout the month. The rebranding does not affect the credit union’s structure, ownership, or member accounts, according to the news release. Summit Choice Credit Union remains a member-owned financial cooperative, governed by the same principles and operated by the same team.  Its website  reminds members that new cards are being issued due to the rebranding. The credit union was originally formed for the families of local firefighters. Today, it serves employees of more than 350 local businesses around greater Fort Wayne. “Adopting the name Summit Choice Credi...
Post a Comment
Read Complete Article HERE>»

The United States at 250: How the Country Has Changed in the Past 50 Years

  In July, the United States will celebrate its 250th anniversary. The country’s last major milestone was 50 years ago, at its bicentennial on July 4, 1976. U.S. society has changed profoundly since then. Over the past five decades, the U.S. population has  aged significantly,  with the percentage of people 65 and older nearly doubling. The country has also become  more racially and ethnically diverse,  as growing shares of people identify as Asian or Hispanic. And following more than 70 million immigrant arrivals, the percentage of  foreign-born people  in the population has more than tripled.  Americans are also  less likely to be married  than ever before. Women – who now have far more options outside of the home than they did in 1976 – have contributed to a  boom in higher education  and helped  expand the workforce.  And even though many Americans are financially better off than they were 50 years ago,  econ...
Post a Comment
Read Complete Article HERE>»

The Case for Sharing a CEO Between Credit Unions

  Embracing Collaboration: The Case for Sharing a CEO Between Credit Unions In recent years, credit unions have faced numerous challenges, from regulatory pressures to evolving member expectations. As many seasoned leaders retire, smaller credit unions often find themselves at a turning point. In this landscape, one innovative solution is gaining traction: sharing a CEO between two credit unions. This approach not only addresses financial constraints but also fosters collaboration and enhances service delivery. The Rationale Behind Sharing a CEO 1. Financial Sustainability One of the most pressing concerns for small credit unions is maintaining financial health amid rising operational costs. A shared CEO model alleviates the financial burden of hiring and compensating a full-time executive. By splitting salary and benefits, both credit unions can allocate resources more effectively, allowing for investment in member services, technology, and community initiatives. ...
Post a Comment
Read Complete Article HERE>»

Reading Up On Recessions

  Reading Up On Recessions       Background Stemming from the Latin word “recessus” (meaning “a retreat”), recessions are  sustained periods  of declining activity in a country’s economy. During a recession, unemployment rises while economic output falls across a large swath of industries. Recessions are inevitable in modern economies, with one occurring about every six to seven years ( What causes recessions ?).   One common definition of a recession is when a country logs two consecutive quarters of shrinking gross domestic product, but in practice, ...
Post a Comment
Read Complete Article HERE>»

Sunday Reading - Landmine Rat Honored

  Landmine Rat Honored   Cambodia unveiled the world’s first statue honoring a landmine-detecting rat (w/photo) Friday. Magawa the rat lived to 8 years old and identified more than 100 landmines and other explosives from 2016 to 2021.  There are more than 100 African pouched rats deployed in landmine detection operations across the world. To identify mines, the rats are trained to sniff out explosive compounds like trinitrotoluene, or TNT. (The rats are not heavy enough to trigger detonation.) In Cambodia, up to 6 million landmines remain undiscovered, most planted during three decades of conflict, from the Vietnam War era through Cambodia's civil war . Since 1979, roughly 20,000 people have been killed in Cambodia, and roughly 40,000 wounded as a result of the mines. Magawa cleared more than ...
Post a Comment
Read Complete Article HERE>»

Sunday Reading - The gold standard, explained

  Gold Standard       The gold standard, explained A gold standard is a system where a country’s currency is pegged to, and can be converted into, a fixed amount of gold. It’s typically meant to create a sense of security in the country’s currency: When a government uses a gold standard , its currency can be exchanged for an equivalent amount of gold—although regulations around redemption vary by country.   After the Civil War, in 1873, America adopted the gold standard for the first time. At the time, if gold was priced at $100 an ounce, each dollar  rep...
Post a Comment
Read Complete Article HERE>»

Open Banking Pushes Leading Credit Unions Ahead In Race For Member Loyalty

  https://youtu.be/pUIV8hwSDCE NEW YORK—Credit unions that embrace open banking aren’t just keeping pace with competitors—they’re pulling ahead, new data show. A new report finds that innovation in digital tools and personalized experiences is emerging as the decisive factor separating credit unions that win lasting member loyalty from those at risk of losing ground. “ The 2025 Credit Union Innovation Readiness Index: Closing Gaps, Winning Members ,” a June report produced in collaboration between  Velera  and PYMNTS Intelligence, underscores innovation as a defining factor for credit union success. iStock-Korakrich Suntornnites “Facing shifting expectations from both consumers and small to medium-sized businesses (SMBs) toward digital convenience and tailored experiences, credit unions must modernize not just to compete with traditional banks, but to remain relevant to their members. The report, based surveys of 500 credit union executives, 15,000 U.S. consumers, and nea...
Post a Comment
Read Complete Article HERE>»

Sunday Reading - What is the Dow Jones?

    What is the Dow Jones? Created in 1896, the Dow Jones Industrial Average is one of the world’s oldest and most widely recognized stock indexes—a measure tracking the stock performance of a selected group of companies ( see most recent data ). Originally designed to track America’s leading industrial firms, the Dow has evolved into a cultural and financial shorthand for the health of the US economy. As of 2025, it measures 30 major companies —like McDonald's, Boeing, and Nike—across sectors such as technology, healthcare, finance, and consumer goods.  Unlike most modern indexes, which are weighted by the total value of a company’s shares, the DJIA uses a price-weighted formula —meaning stocks with higher share prices exert more influence, regardless of company size. The DJIA has been updated 59 times since its creation to reflect changes in the US economy ( see ch...
Post a Comment
Read Complete Article HERE>»