The former chair of NCUA, JoAnn Johnson, was nominated Tuesday by Iowa Gov. Terry Branstad as superintendent of the state's Division of Credit Unions.

Johnson, a former state legislator, served as the NCUA head from 2004-2008 and a member of the board starting in 2002. She replaces the former top regulator, James Forney, who resigned.

Johnson was named by the governor to fill a four year term to begin in May.

"JoAnn served Iowa well as a State Senator from 1994 to 2001, and chaired the Senate Ways and Means Committee and Senate Commerce Committee," said a statement issued by the Iowa Credit Union League.

Johnson "worked in a bi-partisan effort to pass meaningful legislation in the areas of taxation, financial services, and insurance," the league continued. "In addition, she did an exemplary job as a board member of the National Credit Union Administration from 2002-2008 as well as serving as NCUA Chairman from 2004-2008."

Johnson was elected to the state senate in 1994.

"We would also like to acknowledge current Superintendent Jim Forney for his service to the Iowa credit union movement for more than 20 years as Superintendent. We wish him well in his future endeavors," the Iowa league said.