THE WHITE HOUSE
Office of the Press Secretary
For Immediate Release January 3, 2001
PRESIDENT CLINTON NAMES YOLANDA TOWNSEND WHEAT AS CHAIR OF THE NATIONAL
CREDIT UNION ADMINISTRATION
President Clinton today announced his intent to appoint Yolanda
Townsend Wheat to serve as Chair of the National Credit Union
Ms. Yolanda Wheat, of Kansas City, Missouri, has served on the NCUA
Board since April 1996. Ms. Wheat has specialized in the areas of banking
and corporate law since 1986. From 1993 to 1995, she was an attorney with
the Kansas City, Missouri law firm of Smith, Gill, Fisher & Butts where she
represented financial institutions in corporate and municipal finance
transactions and served as bond counsel to numerous transactions.
Previously, she was an attorney with the Washington, D.C. law firm of
Counts & Kanne, where she represented pension funds of the International
Brotherhood of Electrical Workers on all matters, including multi-million
dollar real estate transactions. Mrs. Wheat also was an attorney with the
law firm of Morrison & Foerster from 1986 to 1992, where she represented
commercial lending institutions for secured and unsecured transactions,
permanent financing and workouts.
Ms. Wheat received her B.A. in International Relations from Stanford
University in 1983, and earned her J.D. from Harvard Law School in 1986.
The management of the National Credit Union Administration is vested
in its board of directors, whose responsibilities include managing the
Central Liquidity Facility, a mixed-ownership government corporation whose
purpose is to supply emergency loans to member credit unions.
Additionally, the Board analyzes fail-safe mechanisms within the credit
union industry to protect the creditworthiness of the industry.