Important NCUA Update

The Dakota Credit Union Association is closely monitoring the NCUA board changes and advocating for strong, credit union-focused oversight.

Today’s news regarding the removal of NCUA Board Members Todd Harper and Tanya Otsuka by the Administration marks a significant and unexpected development for our industry. Understandably, this action raises questions about the future direction of the NCUA and its role as our primary regulator.

What we know is that the Federal Credit Union Act, “without at least two members on the board, the NCUA is unable to implement any new action but the agency can still perform its supervisory and examination duties.”

At the Dakota Credit Union Association, we want you to know that we are actively monitoring this situation and are fully engaged with our partners at America’s Credit Unions, the NCUA, and key members of our congressional delegation—including Senators Mike Rounds (SD) and Kevin Cramer (ND), both of whom serve on the Senate Banking Committee, as well as Senate Majority Leader John Thune. Our priority is to understand the full implications of this transition and to ensure that the Administration’s next steps align with the unique needs of credit unions and the 142 million Americans we collectively serve.

We want to take a moment to recognize and thank Chairman Harper and Board Member Otsuka for their public service and steady leadership during a dynamic and sometimes challenging period for credit unions. Their contributions to our system have been meaningful and deeply appreciated.

While this transition introduces some uncertainty, it also presents an important opportunity—a chance to reaffirm the vital role of an independent regulator that understands and supports the credit union model. The Dakota Credit Union Association has long advocated for regulatory oversight that is not only fair and balanced but also fiscally responsible. Whether it involves agency staffing, travel policies, or technology investments, we believe the NCUA must lead with transparency, accountability, and cost-efficiency.

We are aware that the Administration may be considering new Board appointments or broader structural reforms, including possible agency consolidation. While we welcome any conversation focused on improved efficiency, we will continue to champion the need for a regulator dedicated exclusively to credit unions—one that understands the difference between shareholder-driven institutions and member-owned cooperatives.

It’s in moments like this that our collective voice matters most. Rest assured, the Dakota Credit Union Association will remain vigilant and engaged. We will continue advocating for the stability, independence, and effectiveness of our regulatory environment—ensuring that credit unions can thrive and continue to support the financial well-being of millions of Americans.
 
For further questions on this matter, America's Credit Unions has compiled a comprehensive FAQs page, which can be accessed here.

Thank you for your trust, your leadership, and your commitment to our movement. We will keep you informed as developments unfold, and as always, we are here to answer any questions or provide additional insight.
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With appreciation,

DakCU President/CEO