Mr. Joe Mulvey:

Yes, we would like to see the supervisory-oversight committee take care of its own nomination procedure when it comes to vacancies that occur on the committee. Otherwise, it could be open to manipulation by members of the board. We have evidence from some credit unions that they would be manipulated by their boards to nominate certain individuals to the supervisory committee so as to afford the board an easy ride. To maintain our integrity and independence, the supervisory committee should be tasked with the job of nominating suitably qualified persons.