NASCUS CEO Mary Martha Fortney to Retire; Regulators Praise Her Leadership, ‘Fierce Dedication’
February 24, 2014
Feb. 24, 2014
Oregon and Washington regulators praised Mary Martha Fortney’s leadership and her “fierce dedication” to protecting the dual-charter system and the autonomy of state regulatory agencies after learning this week that the longtime president and CEO of the National Association of State Credit Union Supervisors will retire later this year.
Fortney, who has worked for NASCUS since 1993, announced her decision Friday. Her replacement is expected to be chosen sometime in the fourth quarter of 2014.
“Mary Martha Fortney has lived and breathed NASCUS for the benefit of state-chartered credit unions for over 21 years,” said Janet Powell, credit union program manager for Oregon’s Department of Consumer and Business Services. “She has encouraged communication, critical thinking and forward-looking action among state regulators, state-chartered credit unions and the NCUA. It has been a pleasure to work together, and we have valued her leadership.”
Linda Jekel, director of credit unions for Washington’s Department of Financial Institutions, called Fortney “a champion for credit unions and their regulators.”
“As the Washington state regulator and a board member of NASCUS, it has been a privilege to work with Mary Martha and benefit from her great advice over many years,” Jekel said. “I appreciate her fierce dedication to defending and promoting the state credit union charter and the autonomy of state credit union regulatory agencies.”
Fortney joined NASCUS as director of accreditation and communications. She also led the association’s government affairs department and became the organization’s first vice president before being named president and CEO in January 2004.
Fortney was an outspoken and early advocate for the state charter system. Under her leadership, NASCUS took the first official regulator policy positions in favor of responsible charter advancements in secondary capital, expanded and diversified fields of membership, business lending and protecting state authority.
Today, NASCUS routinely works with financial regulators and policymakers to reshape regulation.
“My passion will always be with the credit union system, but I feel it is time to move ahead,” Fortney said in announcing her retirement. “Of course this is bittersweet, but change is good for both people and organizations. I am excited by the next chapter and look forward to the future and to NASCUS’ continued evolution.”
The NASCUS board and advisory council have started the search for Fortney’s replacement. Fortney will be honored at the 2014 NASCUS State System Summit in September, and the next CEO is expected to be announced before the end of the year.
“On behalf of the entire board, and both the regulator and industry membership, I would like to recognize Mary Martha’s leadership over a challenging period for both the regulators and the industry,” said NASCUS Board Chair John Kolhoff, who is also Michigan’s state credit union regulator. “Through this period of significant change, she has been a leader in establishing strong dialogue among federal and state regulators and the institutions they supervise.”
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