NCUA Board Member Gigi Hyland on: The State of Credit Unions

Exclusive Interview with the Board Member of the NCUA As banking unions struggle with the global crisis in confidence, U.S. credit unions are beneficiaries of consumers looking for safe new homes for their deposits. At least that's the popular theory. But what's the real state of affairs now at federally-chartered credit unions? In an exclusive interview, Gigi Hyland, board member of the National Credit Union Administration, discusses: The state of the nation's credit unions; What credit unions must do to succeed at winning new members and deposits; How prepared credit unions are for ID Theft Red Flags Rule compliance; The top three challenges for credit unions in 2009. Gigi Hyland took office on November 18, 2005, as a member of the NCUA Board for a six-year term. Prior to joining the NCUA Board, Ms. Hyland's career spanned 14 years serving the credit union community. From 2003-2005, she served as Senior Vice President, General Counsel for Empire Corporate Federal Credit Union in Albany, New York. While at Empire, she represented the corporate by serving as a board member of the National Cooperative Business Association. From 1997-2002, she served concurrently as Vice President, Corporate Credit Union Relations of the Credit Union National Association, Inc. and Executive Director for the Association of Corporate Credit Unions. Ms. Hyland began her career as an attorney serving credit unions at the family firm of Hyland & Hyland. Currently, Ms. Hyland is Chair of NCUA's Outreach Task Force. The Task Force was created to provide a better understanding of and evaluation of the NCUA's outreach efforts and is in further response to the findings in the agency's 2006 Member Service Assessment Pilot Program: A Study of Federal Credit Union Service. Ms. Hyland serves as NCUA Board representative on the NeighborWorks® America Board of Directors. She also serves as the Board's liaison to the Department of Defense, the Department of Housing and Urban Development and the National Association of State Credit Union Supervisors (NASCUS). Ms. Hyland's term expires August 2, 2011. Originally from Alexandria, VA, Ms. Hyland holds a bachelor's degree from the College of William and Mary, a JD from George Mason University and an Advanced Diploma in International Law from McGeorge School of Law. Ms. Hyland is a Credit Union Development Educator and received the DE Volunteer of the Year Award for Advocacy in March 2006.