Matz praises CUs’ resilience

Regulator explains how the agency averted a catastrophe to the insurance fund.

March 01, 2011
/ PRINT / ShareShare / Text Size +

“We’ve always known the CU system was strong,” NCUA Chairman Debbie Matz told an Opening General Session audience yesterday. But she praised CUs for the resilience they’ve shown through the economic downturn.

Matz detailed how the agency worked during the past 18 months to prevent another crisis from becoming “a catastrophe.” It involved several consumer CUs, including some with more than $1 billion in assets and on the verge of failure. NCUA had to tailor remedies to each unique situation and act quickly, she said. It issued Letters of Understanding and Agreement requiring specific performance targets, found merger partners, worked with boards to select new CEOs, and conserved some credit unions.

These actions prevented $1.5 billion in losses to the insurance fund. And it’s why the agency returned to a 12-month examination cycle—rather than the 18-month cycle in place before the crisis—which resulted in the addition of more NCUA staff. “I understand your concern that when you’re cutting your budget, NCUA asked more from you.”

Post a comment to this story


What's Popular

Popular Stories

Recent Discussion

Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory ( will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.

Your Say: Who should be Credit Union Magazine's 2014 CU Hero of the Year?

View Results Poll Archive