“The pair of CEOs at Point West took the process seriously from the start, got the advice they needed on making a plan, and it has worked so far,” Powell said.

Powell was among officials recognized at the May 1 annual meeting of Point West used by its dual CEOs, Amy Nelson and Nick Hodson, as a platform to herald the credit union's financial recovery.

Powell said her office conducted dual exams with the NCUA and met quarterly with Nelson and Hodson to monitor progress on the restoration package. She added that Point West “did the right thing in closing a branch on their own, eliminating staff, reducing risk and improving collections.”

“They've accomplished a lot,” she said, adding that she would like to see the credit union's net worth ideally reach 8%.

The Oregon regulator said also she is familiar with industry complaints about examiner practices. “Good contacts and cooperation is the key,” she said.

Regarding the NCUA, she said she realizes negative behavior can occur, sometimes related to inexperience.

“So much needs to be done, there is less energy” on the part of credit union managers, she said adding, such scenarios can be overcome “if everyone does a better job of listening.”