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ALEXANDRIA, Va. (April 8, 2019) – President Donald J. Trump has designated Rodney E. Hood as the eleventh Chairman of the National Credit Union Administration Board.

Today, as his last official action as Chairman of the Board, J. Mark McWatters administered the oath of office to Mr. Hood, at the NCUA headquarters.

“It is an honor to have been nominated by President Trump, confirmed by the U.S. Senate, and sworn in by Chairman McWatters to serve as the eleventh NCUA Chairman,” Mr. Hood said. “I look forward to leading the agency and focusing on the safety and soundness of America’s credit unions as they operate in today’s ever-changing marketplace. As President Trump’s pro-growth economic agenda seeks to empower individuals and communities across the nation, America’s credit unions are on the frontline of providing affordable access and opportunity to the financial system. 

“Over the next four years, I will be especially honored to lead the talented and professional NCUA team while doing my level best to ensure that they have the necessary resources to respond nimbly to today’s market risks and emerging issues. As Chairman, I look forward to enhancing and modernizing the federal credit union charter, addressing the issues of capital reform and cyber security, creating opportunities for credit unions to serve vulnerable communities, and reducing regulatory burdens.” 

Hood was nominated to the NCUA Board on January 16, 2019, and confirmed by the Senate on March 14, 2019. Upon his swearing in, his term will expire on August 2, 2023. Nominated to the NCUA Board by President Barack Obama on January 7, 2014, J. Mark McWatters will remain on the Board. His term expires on August 2, 2019.

“I look forward to working with Mr. Hood in continuing to pursue an agenda of safe and sound regulatory reform for the credit union community, upon his assuming the Chairmanship of the NCUA,” Chairman J. Mark McWatters said. “I thank President Trump for the honor of serving as Chair for the past two years and congratulate Mr. Hood on his designation. Mr. Hood brings a wealth of financial and credit union experience to the position having previously served on the board and will do an outstanding job as Chairman.”

Immediately prior to his rejoining the NCUA Board, Mr. Hood served as a corporate responsibility manager for JPMorgan Chase, managing national partnerships with non-profit organizations promoting financial inclusion and shared prosperity for underserved communities.

He previously served as Vice Chairman of the NCUA Board, as associate administrator of the Rural Housing Service at the U.S. Department of Agriculture, and as a member of the Board of Governors for the University of North Carolina. Before public service, Mr. Hood held management positions in retail finance, commercial banking, affordable housing and community development at G.E. Capital, Bank of America, Wells Fargo and North Carolina Mutual Life Insurance Company.

Mr. Hood holds a bachelor’s degree in business, communications, and political science from the University of North Carolina at Chapel Hill.