Michael C. Hanson is the President and Chief Executive
Officer of the Massachusetts Credit Union Share Insurance Corporation (MSIC). He previously served as the corporation’s
General Counsel for twelve years. 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 $780 million in shares and
consumers at 85 member credit unions. MSIC insured member credit unions hold over $18 billion in
total assets and serve over 1.5 million consumers.
Mr. Hanson is also the Principal of Hanson Associates, a
firm which provides legal and consulting services to the financial services
industry. He has extensive experience in
regulatory, corporate, securities and loan workout matters, and has advised
banking, credit union and mortgage company clients with respect to the full
range of regulatory compliance and corporate matters. He has practiced extensively before the Board
of Governors of the Federal Reserve System, the Federal Deposit Insurance
Corporation, the Office of the Comptroller of the Currency, and the National
Credit Union Administration, along with other state and federal regulatory agencies.
Mr. Hanson was previously a full partner in a major
Boston law firm before
founding Hanson Associates in 1996. From
1991 to 1992 he served as Massachusetts Commissioner of Banks, during the
height of the New England Banking crisis.
As Commissioner, Mr. Hanson worked closely with Massachusetts Governor
Bill Weld, Lt. Governor Paul Cellucci and the New England Congressional
Delegation, and is credited with developing regulatory and public relations
strategies which greatly assisted
New England in successfully navigating the
While Commissioner, Mr. Hanson served as one of three
members of the Masters Trust, along with the Massachusetts Treasurer. The
Masters Trust had the responsibility of managing and supervising
pension system. He also served, by law,
as the Chairman of the Massachusetts Board of Bank Incorporation.
From 1992 to 1999, Mr. Hanson was a member of the
Massachusetts Governor’s Council on Economic Growth and Technology, and its
Taxation and Capital Formation Committee.
The Council was composed of a select group of leading
businessmen and academics who advised the Governors on improving the
New England economy.
During this time, the Council was led by former venture capitalist and
Massachusetts Secretary of Economic Affairs Dan Gregory, and then by Harvard
Business School Professor Michael Porter.
The Taxation and Capital Formation Committee was a small group of twelve
specialists, including Gregory and Professors Martin and Katherine Feldstein.
In 2006, Mr. Hanson was appointed by former Massachusetts
Governor Mitt Romney to serve as a member of the Massachusetts Public Health
Council. The eight-member Public Health
Council and the Commissioner of Public Health constituted the Department of
Public Health under
law. During this period, the Public
Health Council addressed a number of major concerns, including issues relating
to universal health insurance coverage and pandemic preparation.
While a student at
College, Mr. Hanson was elected to the
New Hampshire House of Representatives from his home town of
New Hampshire. 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. Then at age 26, he remains the
youngest Chairman of the House Appropriations Committee (or its equivalent
Mr. Hanson is a member of the Boston Economic Club and the
Boston Committee on Foreign Relations. He
previously served as a Director of a de
novo bank in
Massachusetts, and a member of
the Board of Directors of the American Red Cross of Central Massachusetts.
He is a frequent lecturer on economic, banking and credit
union matters, and regularly facilitates strategic planning sessions for
community financial institutions. In September
2010, he chaired a panel on the Dodd-Frank Wall Street Reform and Consumer
Protection Act for Massachusetts Continuing Legal Education, Inc. (MCLE). In January 2011 he was a keynote speaker at the
Credit Union Volunteer Leadership Institute sponsored by The Paragon Group,
In October 2011 he testified before 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 is a graduate of
School. He also holds a
Postgraduate Diploma in Organizational Leadership from the