NCUA Chairman Rodney Hood outlines his credit union priorities in the latest CUNA News podcast at African-American Credit Union Coalition (AACUC) annual conference in Charlotte, NC.
“Financial inclusion is the civil rights issue of our generation,” proclaimed Hood. “I believe credit unions are uniquely positioned to lead this charge. Credit unions must work together and collaboratively by requiring new ways of thinking. We must meet the needs of the underserved and under looked.”
Since being appointed as Chairman, Hood has encouraged credit unions to consider applicants with minor criminal offenses for employment.
Chairman Hood also discussed the importance of small credit unions, modernizing the agency’s structure to ease regulatory burdens, innovation, and cybersecurity.
“Cybersecurity is what keeps me up at night,” said Hood, who appointed Johnny E. Davis, Jr. as Special Advisor for Cybersecurity. Hood advocated that all credit unions have a shared responsibility to ensure systems are secure and members are protected.
As for where credit unions are headed, Hood has a positive outlook. “Right now, credit unions are strong and vibrant. In 85 years, the movement has grown to serve 117 million Americans. Lending in all categories and memberships are growing.”