Michael C. Hanson
President and CEO
Michael C. Hanson is the President and Chief Executive Officer of the Massachusetts Credit Union Share Insurance Corporation (MSIC). MSIC insures excess shares and deposits held by credit unions operating in Massachusetts. Founded by a special act of the Massachusetts Legislature in 1961, MSIC today insures over $1.3 billion in shares and deposits for Massachusetts consumers at 82 member credit unions. The MSIC insurance system is a true cooperative, and it is currently the fourth largest credit union cooperative in the world. MSIC and its member institutions hold over $25 billion in total assets and serve over 1.7 million consumers.
Mr. Hanson was previously a full partner in a major law firm headquartered in Boston. In 1991 he was appointed by former Governor Bill Weld to serve as Massachusetts Commissioner of Banks, during the height of the New England Banking Crisis. As Commissioner Mr. Hanson designed regulatory, political and public relations strategies which greatly assisted Massachusetts and New England in weathering the crisis. In addition, he designed a receivership and resolution process for failing financial institutions that has now become the global standard.
From 1992 to 1999, Mr. Hanson was a member of the Massachusetts Governor’s Council on Economic Growth and Technology. The Council was composed of a select group of leading Massachusetts businessmen and academics who advised the Governors on improving the New England economy. In 2006, Mr. Hanson was appointed by former Massachusetts Governor Mitt Romney to serve as a member of the Massachusetts Public Health Council. During this period, the Public Health Council addressed a number of major concerns, including issues relating to universal health insurance coverage and pandemic preparation.
In 1976, Mr. Hanson was elected to the New Hampshire House of Representatives. He served for three terms as a member of the House and held various leadership positions, including Assistant Majority Leader, Chairman of the Joint Legislative Fiscal Committee and Chairman of the House Appropriations Committee. In the latter two positions, he served as the chief architect of the New Hampshire biennial budget during 1980 and 1981.
In 1979 and 1980 he served as the Executive Director of the New Hampshire Presidential Campaign of former United States Senate Majority Leader Howard Baker (R-Tennessee).
Mr. Hanson is a frequent speaker on economic, banking and credit union matters, and regularly facilitates strategic planning sessions for community financial institutions. He has been a three time keynote speaker at the Credit Union Volunteer Leadership Institute. In October 2019 he was a keynote speaker at the Annual Convention of the Cooperative Credit Union Association (CCUA). He has testified at both the state and national level on behalf of credit union and banking safety and soundness issues. In October 2011 he testified before Congress at a hearing by the U.S. House Financial Services Committee, Subcommittee on Financial Institutions and Consumer Credit, regarding H.R. 1418: The Small Business Lending Enhancement Act of 2011.
Mr. Hanson serves as MSIC’s delegate to the International Association of Deposit Insurers (IADI), headquartered at the Bank for International Settlements in Basel, Switzerland.
He is a graduate of Dartmouth College and Harvard Law School, and also holds a Postgraduate Diploma in Organizational Leadership from the Saïd Business School at Oxford University.