Johnson Named NCUA Board Vice Chair
Dollar Announces Unanimous Board Action To Name
Former Iowa State Senator As NCUA Board Vice Chair
January 15, 2003, Alexandria, Va.
– NCUA Chairman Dennis Dollar announced today that the NCUA Board
has voted unanimously to name JoAnn Johnson as the Vice Chair of the
Board. The designation is effective immediately.
“I have long felt that the Board should have a Vice Chair to
make it clear beyond question who would chair a meeting or sign documents
on behalf of the agency in the absence of the Chairman,” said
Dollar in announcing the Board’s unanimous notation vote to name
Johnson. “Senator Johnson has contributed much to the agency during
her first year on the Board and I have tremendous confidence in both
her judgment and her leadership ability. I think she will be an outstanding
Vice Chair and I am extremely pleased to see this important position
restored.”
When the NCUA Board has selected a Vice Chair in the past, it has traditionally
been the other Board Member from the same political party as the Chairman
and the President. Since the establishment of the bi-partisan three-member
NCUA Board in 1979, three previous Vice Chairs have been elected by
the NCUA Board. They were P. A. Mack in 1979, Elizabeth Burkhart in
1982 and Shirley Bowné in 1991. The Board has been without a
Vice Chair since Ms. Bowné left the Board in 1997.
In supporting the action to name Johnson to the post, Board Member
Deborah Matz said, “I am honored to serve with such distinguished
colleagues. Mrs. Johnson has demonstrated a commitment to maintaining
the safety and soundness of credit unions and I am sure she will carry
out the duties of Vice Chair with the thoughtfulness and thoroughness
that she has exemplified as a Board Member.”
Johnson, an Iowa State Senator prior to her appointment to the NCUA
Board in 2002 said, “I want to express my appreciation to Chairman
Dollar and Board Member Matz for their support in naming me Vice Chair.
I look forward to continue working under Chairman Dollar’s leadership
to ensure strict safety and soundness standards while further enhancing
the regulatory environment for all credit unions.”
JoAnn Johnson was nominated to a seat on the NCUA Board by President
George W. Bush in November 2001. Bush appointed Johnson to the Board
as a recess appointee in early 2002 and the U.S. Senate confirmed her
as a Board Member on March 22. Johnson was elected to the Iowa Senate
in 1994 where she chaired the Senate Ways and Means Committee and the
Senate Commerce Committee. Johnson’s term on the NCUA Board will
expire in August 2007.
The National Credit Union Administration, governed by a three-member
board appointed by the President and confirmed by the Senate, is the
independent federal agency that regulates, charters and supervises federal
credit unions. NCUA, with the backing of the full faith and credit of
the U.S. government, operates and manages the National Credit Union
Share Insurance Fund, insuring the deposits of more than 80 million
account holders in all federal credit unions and the overwhelming majority
of state-chartered credit unions.
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