Ep. 72: The Competing Credit Union
Kyle
Hauptman
Vice Chairman
National Credit Union Administration
On This Episode
Kyle Hauptman, NCUA Vice Chairman, has a long history of working in the financial industry and has seen firsthand the changes and innovations in the field.
During the 2008 recession, Hauptman saw the importance of solid financial policies. This inspired him to work more with financial policies and regulations. Now, with our current economy, this job is essential for the long-term survival of credit unions.
Since early 2020, more credit unions are operating remotely and online, and among the many changes, one key piece is using technology to advance routine jobs and functions. Hauptman says credit unions have adapted well to this, “It’s not so much new products to offer, it’s doing the same core financial functions but doing them differently.”
Credit unions adapt as traditional finance is changing and decentralized finance is rising in popularity. Crypto and Bitcoin offer new opportunities for the public, and Hauptman is excited to see where they will take the financial world.
Looking forward, Hauptman is excited to see where new technology will take Americans, pointing out that many people use newer technology to create new jobs and opportunities. However, Hauptman emphasized the importance of maintaining the value of the US dollar, despite all of the novel technology and innovation in the financial industry.
Listen to this podcast to learn more about exciting innovations in the credit union industry with Hunter and Kyle.
More About Kyle
Kyle S. Hauptman was nominated by the White House to serve on the NCUA Board on June 15, 2020. The U.S. Senate confirmed him on December 2, 2020, and he was sworn in as a member of the NCUA Board on December 14, 2020. The NCUA Board approved his designation as Vice Chairman of the NCUA on December 18, 2020.
Prior to his joining the NCUA Board, Mr. Hauptman served as Senator Tom Cotton’s (R-Arkansas) advisor on economic policy, as well as Staff Director of the Senate Banking Committee’s Subcommittee on Economic Policy.
Previously, Mr. Hauptman was Senior Vice President at Jefferies & Co. He worked at Lehman Brothers as a bond trader in New York City as well as in their international offices in Tokyo and Sydney and served as a voting member on the U.S. Securities and Exchange Commission Advisory Committee on Small and Emerging Companies.
Mr. Hauptman served on the Presidential transition team in 2016 and was Senator Mitt Romney’s (R-Utah) policy advisor for financial services during the 2012 presidential campaign.
Mr. Hauptman holds a Master’s in Business Administration from Columbia Business School and a Bachelor of Arts from University of California, Los Angeles.
