Obama nominates Herrera to NCUA Board

July 13, 2016

Obama nominates Herrera to NCUA Board

President Barack Obama on Wednesday nominated John A. Herrera of North Carolina to the NCUA Board. NAFCU President and CEO Dan Berger called Herrera and extended congratulations upon learning of the impending nomination.

The president has nominated Herrera, currently senior vice president for Latino and Hispanic Affairs at Self-Help, a non-profit community development financial institution, to fill the board vacancy created with the departure this spring of former NCUA Board Chairman Debbie Matz. Herrera's term would last through April 10, 2021.

"Mr. Herrera has an impressive background on matters important for credit unions and their consumer-members. We look forward to working with him, should he be confirmed, to ensure a positive regulatory environment for credit unions," Berger said.

Herrera has held his position at Self-Help since 1999. From 2003 to 2010, he served as a commissioner for the North Carolina Credit Union Commission. He was twice elected as a town alderman in Carrboro, N.C., in 2001 and 2005.

Herrera has served on the board of the Latino Community Development Center in Durham, N.C., since 2001 and also co-founded the state-charted Latino Community Credit Union in 2000. Herrera received a bachelor's degree from the University of Delaware and a graduate degree from North Carolina State University. In 2013, he was recognized by the White House as an Immigrant Innovator Champion of Change.

NCUA Board Chairman Rick Metsger and Board Member J. Mark McWatters welcomed the president's selection of Herrera to fill the current board vacancy.

"I congratulate John Herrera and hope the Senate acts quickly on his nomination," Metsger said. "John's experience creating the Latino Community Credit Union and at Self-Help Services will broaden the Board's perspective and strengthen its ability to fulfill the mandate of the Federal Credit Union Act, including serving persons of modest means."

McWatters echoed similar sentiments. "John's experience in working with underserved communities and involvement in creating a thriving credit union will provide much value to NCUA, federally insured credit unions and all credit union members."

McWatters has been nominated to the board of the Export-Import Bank; the Senate Banking Committee has yet to hold a hearing on that nomination.

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