WASHINGTON - Saying there has "never been a better opportunity for credit unions to demonstrate their ethos of people helping people," NCUA Vice Chairman Rodney Hood told credit union leaders today "this is your time to be bold, be heard, and to be there."

Hood told attendees at CUNA's Governmental Affairs Conference "there won't be one superbullet" to get through the crisis facing the economy in general and corporate credit unions in particular and urged people to submit comments to the NCYA on how best to restructure the corporate system.

He said the board "deliberated long and hard" before approving the rescue plan for corporates that will be financed in part by levying a premium on credit unions to replenish the National Credit Union Share Insurance Fund. But he said the board is open to alternatives, including using the Central Liquidity Facility as a source of capital.