Steve Schmitz Appointed to ND State CU Board

​Congratulations to the President of First Community Credit Union who begins serving a five-year term with our state regulator. 

Steve Schmitz, President of First Community Credit Union, Jamestown, North Dakota, was recently appointed to the North Dakota State Credit Union Board by Governor Doug Burgum.  Schmitz is assigned to represent the public at large, and criteria for his selection included a strong background in accounting, economics, and finance.  His term officially began on July 1, 2021 and will expire in June, 2026.
 
“I am both humbled and honored to be appointed to the North Dakota State Credit Union Board,” stated Schmitz.  “I am proud to join my distinguished colleagues on this important assignment and I am looking forward to serving all of North Dakota’s credit unions and their many members,” he added.
 
“To be appointed by the Governor to lead and serve our industry and state chartered credit unions is an enormous responsibility and honor,” says Jeff Olson, DakCU President/CEO.  “Steve’s experience and success as a credit union leader and advocate will be an asset to the department in leading, guiding and protecting our operating environment here in North Dakota.  We congratulate Steve on this opportunity and wish him much success in this new role.  The association extends our full support to the State Credit Union Board in guiding our industry in North Dakota.”  
 
Olson continues, “I also wish to thank Deb Gallagher, who is retiring from the board, for her years of service.  We all have benefitted from her willingness to volunteer her time, experience, and leadership, and we are grateful for her many contributions while serving in this capacity.”
 
The North Dakota State Credit Union Board is an administrative agency that manages and controls credit unions. It can assess civil penalties and have a hearing process.  The governor appoints four members, and the Commissioner of Financial Institutions is also a member.  The Board has the power to adopt rules for the government of credit unions and may make and enforce such orders as are necessary to protect the public and the members of state-chartered credit unions.
 
The current board consists of: Melanie Stillwell, President, Western Cooperative Credit Union, Williston; Paul Brucker, President, Railway Credit Union, Mandan; George Economon, Fargo; Steve Schmitz, President, First Community CU, Jamestown; Lise Kruse, ND DFI Commissioner; Corey Krebs, ND DFI Assistant Commissioner; and Ex-Officio board member Wayne Stenehjem, ND Attorney General. 

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