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Fryzel Urges Credit Unions to “Take the Moment”

WASHINGTON (March 21, 2012) – At the Credit Union National Association’s Governmental Affairs Conference over 4,000 credit union attendees listened here today as National Credit Union Administration (NCUA) Board Member Michael E. Fryzel urged them to do their part and seize the moment by using the credit union philosophy to bring America back to its tried and tested values of work, achievement, and helping others.

Fryzel began his address by communicating the importance of the credit union movement and the inheritors of its tradition of people helping people, while highlighting the opportunities before them. “You are the inheritors of this great tradition, of this great engine of growth, strength, and change. But you are more than inheritors, you are now the engine itself.”

He charged the audience to “put the pedal to the metal” and show the nation that “self-help, not-for-profit, democratically run cooperatives are the best means of helping all Americans gain access to high quality, low-cost financial services.”

Fryzel challenged credit unions to grow membership and to continue to focus on raising the standards of living of their members and their communities by virtue of their mission and deeds while leading the way toward championing the “classic can-do work ethic and achievement that has distinguished America since its founding.”

He called upon credit unions to take action. “Take this moment to show and to lead America back home,” Fryzel stated, “with the values and work ethic that made it the greatest nation in the world.” And back home “…to the pride in itself and its achievements that have marked its history.”

For the full text of Board Member Fryzel’s address, click here.

NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 101 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.


National Credit Union Administration

Office of Public & Congressional Affairs



John Fairbanks
Office: 703.518.6336
Mobile: 571.438.0801

Ben C. Hardaway
Office: 703.518.6333
Mobile: 703.298.5223

Kenzie Snowden
Office: 703.518.6334

"Protecting credit unions and the consumers who own them through effective regulation"