Credit Union Trades Respond to Senate Confirmation of Otsuka to Serve on the NCUA Board

The Senate voted to confirm Tanya Otsuka to serve on the NCUA board Wednesday. Otsuka currently serves as senior counsel for the Senate Banking Committee and was nominated by President Joe Biden in September.  She makes history as the first Asian American to serve on the NCUA Board.  

NCUA Chairman Todd Harper congratulated her Otsuka on joining the board. “Tanya brings a deep dedication to public service and many years of financial services law and policy experience to this important role,” he said. “Moreover, she’s hardworking, insightful, and committed to building a financial services system that works fairly for all Americans. I look forward to working alongside Tanya on the NCUA Board to strengthen the U.S. financial system while protecting consumers and expanding access to safe, fair, and affordable financial products and services.”

Harper, a Democrat, has served as chairman without a fellow Democrat on the board as both Vice Chairman Kyle Hauptman and Board Member Rodney Hood are both Republicans. Otsuka will give Harper a second D on the board. Once sworn in, Otsuka will replace Hood, whose term has expired in August.  

“We congratulate Ms. Otsuka on her confirmation to the NCUA board, and share her goals of enhancing credit unions’ ability to serve their communities,” said CUNA President/CEO Jim Nussle. “We look forward to working together with her on the critical issues facing credit unions as we look for new and better ways to serve our nearly 140 million members.” 

LSCU President Samantha Beeler said of Otsuka’s confirmation, “On behalf of Alabama, Florida, and Georgia credit unions, we want to congratulate Ms. Tonya Otsuka on her confirmation to the Board of the National Credit Union Administration. Given her experience in the financial services industry, we are confident she will be a strong leader for safety and soundness in the Southeast and beyond. We look forward to working with her to continue supporting and advancing communities across the country.”

DCUC President/CEO Anthony Hernandez issued a statement, adding, “The Hon. Otsuka is an excellent nominee and we look forward to working with her on many issues which will affect each of our member credit unions. From her statements during her confirmation hearing, it is clear that we share her strong commitment to empowering consumers and strengthening the role of credit unions serving their communities. Welcome Board Member Otsuka!”

On the confirmation of Otsuka, GoWest Credit Union Association President/CEO Troy Stang commented, “The Credit Union Movement will be well-served by Tanya Otsuka’s service to the NCUA Board of Directors. Ms. Otsuka has a distinguished career in public service and is a proven financial services industry thought leader. We look forward to collaborating with her in the pursuit of policies in the best interests of credit unions and the more than 130 million consumers they serve.”

He also noted his appreciation for Hood’s service, stating, “Nominated by two Presidents for a position on the NCUA Board of Directors, Rodney Hood went above and beyond in fulfilling the agency’s mission of protecting the cooperative, member-owned charter. During his time as a director and as Chair of the Board, Mr. Hood guided effective regulatory advancements, looked out for the best interests of members of credit unions, and advanced policies that helped credit unions to best serve those members. We hope that in his next chapter, Mr. Hood will continue to be a part of the Credit Union Movement where he has left such a remarkable footprint.”

CUNA and NAFCU submitted joint comments to the committee prior to Otsuka’s testimony before the Senate Banking Committee in October outlining various credit union issues both the committee and NCUA should keep in mind.