Former Sen. Roger Jepsen (R-Iowa), who chaired the National Credit Union Administration board from 1985 to 1993, died Friday in Bettendorf, Iowa. He was 91.
President Reagan nominated Jepsen as NCUA chairman after Jepsen was defeated by former Democratic Sen. Tom Harkin.
Jepsen “was well-liked and respected in the credit union community,” NCUA Chairman Rodney Hood said. NCUA officials noted that Jepsen led the agency during a period of great change, which included the conversion of more than 400 state-chartered credit unions to federal insurance coverage, as well as the adoption of the CAMEL rating system.
Jepsen also chaired the agency when the American Bankers Association sued the NCUA over a field-of-membership expansion rule. That case went to the U.S. Supreme Court, which ruled in the bankers’ favor. That led to enactment of the Credit Union Membership Access Act, which was signed by President Clinton in 1998.
“Roger Jepsen leaves behind a tremendous legacy, both to my home state of Iowa and to the credit union system,” said Credit Union National Association President/CEO Jim Nussle. “His family and friends are in our thoughts and prayers.”