NCUA Chairman McWatters’ Statement Congratulating Sarah Vega

ALEXANDRIA, Va. (Oct. 12, 2018) – National Credit Union Administration Chairman J. Mark McWatters today congratulated Chief of Staff Sarah Vega on her selection as President and Chief Executive Officer of the Cooperative Credit Union Association and thanked her for her long and valuable service to the NCUA:

“Sarah’s many contributions to this agency and to the financial industry over the past decade have helped create a safer, sounder, and more responsive credit union system,” McWatters said. “She came here as the financial crisis threatened credit unions and helped guide the agency’s response. She worked diligently to make the NCUA more flexible, efficient, accountable, and effective. She built strong relationships with industry stakeholders, our sister agencies, and elected officials at the state and national levels. I congratulate Sarah on this new opportunity; I look forward to our continued relationship; and I offer my deepest thanks for her guidance and partnership.”

Vega joined the NCUA in 2008 as chief of staff to then-Chairman Michael E. Fryzel, subsequently serving as senior policy advisor to Fryzel and to Board Member McWatters before being again named Chief of Staff in 2017.

She is a former Director of the Illinois Department of Financial Institutions, and before being named Director, she served as the Administrator of the Department’s Credit Union Division, which regulates state-chartered credit unions. She served on the Board of Directors of the Federal Home Loan Bank Chicago and on the Board of Directors of the National Association of State Credit Union Supervisors, serving as the Association’s Chairman from 1999 to 2000.