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Sarah Vega
In a surprising turn of events, Sarah Vega has decided to forego the top job at the Cooperative Credit Union Association and return to her position as chief of staff to NCUA Board Chairman J. Mark McWatters.
The CCUA, a trade group that represents credit unions in Massachusetts, Rhode Island, New Hampshire and Delaware, announced the news in its newsletter on Friday.
Vega had been tapped to replace Paul Gentile, who left the CCUA recently after five years to become president and CEO of the $1.9 billion Rahway, New Jersey-based Merck Employees Federal Credit Union.
“Vega is passionate about credit unions throughout the country and excited about the bipartisan manner in which the NCUA board is operating,” the newsletter said. “She feels that there is unfinished business at the agency and wants to continue in her role in the completion of the work that the chairman has begun.”
As a result of Vega’s decision, the CCUA said it will immediately resume its search for a new president and CEO.
Vega’s decision has sparked speculation that she could be in line for a seat on the NCUA board, according to the Credit Union Times, which reports that with mid-terms near, the future of several NCUA board seats is uncertain.
