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President Donald J. Trump today designated Acting NCUA Board Chairman J. Mark McWatters as the tenth chairman of the NCUA Board, effective June 23. NAFCU President and CEO Dan Berger congratulated McWatters on the permanent designation.

McWatters, who first joined the board Aug. 26, 2014, had been serving as acting chairman since this Jan. 23.

"NAFCU congratulates Chairman McWatters on this appointment," said Berger. "As always, we look forward to working with the chairman and the agency's board in seeking to ensure a positive regulatory environment where credit unions can thrive." He called to give congratulations.

Said McWatters, in a statement, "I thank President Trump for this honor and the trust he has placed in me. As Chairman of the NCUA, I remain committed to providing regulatory relief for the credit union community, in compliance with the Federal Credit Union Act, and to streamlining the operations of NCUA as a prudential regulator."

He continued, "We best fulfill our obligation to protect America's $1.3 trillion credit union community and its 108 million, largely middle-class, members, and the safety and soundness of the National Credit Union Share Insurance Fund by promoting a strong and vibrant system and by making the NCUA even more efficient, effective, transparent and fully accountable."

Said NCUA Board Member Rick Metsger, "I am very pleased that Mr. McWatters has officially been designated as the Chairman of the NCUA by the President. This recognizes his hard work and dedication to the mission of the agency and I look forward to our continued work together to provide access and financial safety to the over 100 million Americans who are part of the nation's credit union system."