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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release April 12, 1996

         PRESIDENT CLINTON NAMES YOLANDA TOWNSEND WHEAT
           TO THE NATIONAL CREDIT UNION ADMINISTRATION 
                              BOARD

     President Clinton announced today the appointment of Yolanda

Townsend Wheat of Missouri to be a Member of the National Credit Union Administration Board. Ms. Wheat will serve as a recess appointee. She was nominated on November 9, 1995 and her nomination is pending before the Senate.

Yolanda Wheat has specialized in banking and corporate law since 1986. She was an attorney with the Smith, Gill, Fisher & Butts law firm in Kansas City, Missouri from 1993 to 1995, where she represented financial institutions in corporate and municipal finance transactions. She also served as a bond counsel to numerous transactions. Previously, she was an attorney with the Counts & Kanne law firm in Washington, D.C., where she represented pension funds of the International Brotherhood of Electrical Workers. Ms. Wheat was also an attorney with the Morrison & Foerster law firm from 1986 to 1992. She represented commercial lending institutions for secured and unsecured transactions, permanent financing and workouts. She earned a B.A. in International Relations from Stanford University in 1983 and a J.D. from Harvard Law School in 1986.

The management of the National Credit Union Administration is vested in its Board of Directors. The President has recess appointed Ms. Wheat because of the need to prevent an interruption of services in supplying emergency loans to member credit unions and continuing the fail-safe analysis process and mechanisms within the credit union industry to protect the creditworthiness of the industry.

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