NCUA September 18 Board Meeting Still Scheduled
With “Business As Usual” As Storm Approaches Later In The
Day
Alexandria, VA, September 17, 2003 – Keeping a close watch on
Hurricane Isabel churning off the Atlantic Coast, NCUA Chairman Dennis
Dollar announced today that the September 18 regularly scheduled open
monthly meeting of the NCUA Board would be held as previously announced
on Thursday morning at 10 a.m.
“Our reports presently indicate that the worst of our Washington-area
weather from the storm will not hit until Thursday evening,” said
Dollar. “Therefore, we are taking a business as usual approach
for our Thursday morning Board meeting. We have a lengthy agenda with
substantive issues scheduled to come before the Board, and the Board
feels it is always important to have our meetings on the dates and
times that were announced to the public unless there are circumstances
outside of our control which intervene.”
Dollar said that the Board and senior NCUA managers have met daily
this week to monitor the status of Hurricane Isabel, both for its potential
impact on the Board meeting but also to prepare for monitoring of its
impact and the needs of assistance to credit unions in the storm’s
path.
“We recognize the dangerous nature of this storm and we have
planned for every contingency that can be foreseen,” said Dollar. “NCUA
has always been available to work with credit unions that are negatively
impacted by natural disasters, and we continue to find credit unions
are well prepared with their contingency planning.”
Dollar said that the only adjustments being made to the September
Board meeting schedule at this time is a change of the Board’s
closed meeting time from immediately after the 10 a.m. open meeting’s
conclusion to start instead at 9 a.m. on Thursday morning.
“We decided to move our closed meeting from its traditional
slot immediately after the open session to earlier in the morning so
that we can have both meetings completed before noon,” said Dollar. “This
will enable our staff and those members of the public who attend the
meeting to have the opportunity to get home earlier if they have last
minute preparations to make before the weather turns bad Thursday evening.
We want to get our business done for our agency and its stakeholders,
but we want to be sensitive to our staff and visitors as well.”
Only in the case of a declared all-day federal government shutdown
on Thursday due to the storm would the NCUA Board meeting be re-scheduled
to a later date, said Dollar.
“Should the Office of Personnel Management shut down the federal
government in Washington all day on Thursday,” said Dollar, “we
will be forced to announce a re-scheduled date for the meeting. In
our discussions with OPM it seems quite unlikely that, with the present
track of the storm, they will shut down the government Thursday morning.
Therefore, we are continuing with business as usual.”
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, also operates and manages the National
Credit Union Share Insurance Fund (NCUSIF), insuring the deposits of
over 80 million account holders in all federal credit unions and the
overwhelming majority of state-chartered credit unions.
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