Discussion at Annual Maryland-DC Credit Union Event Covers Broad Ground
ALEXANDRIA, Va. (June 12, 2012) – National Credit Union Administration Board Member Michael E. Fryzel engaged with Credit Union National Association President Bill Cheney in a panel discussion today on hot topics affecting the credit union industry. Participants at the 2012 annual convention of the Maryland and District of Columbia Credit Union Association asked questions on member business lending, tax exemption, examinations, corporate credit unions, director education, pending regulations and economic challenges.
“I consider all questions asked to be important,” Fryzel stated. “The issues raised by credit union officials afford me great insight and assist me in my decision making. Hearing the views of individuals who work in credit unions everyday provides a fresh perspective. This type of open dialogue between our respective roles as regulator and the regulated is unique and vital for the continued success of the credit union industry.”
During the panel discussion, Fryzel highlighted the need to continue the successful implementation of the corporate resolution plan and discussed the natural person credit union relationship with corporate credit unions moving forward. Fryzel noted, “The corporates of today can provide all the services that were provided in the past. However, the service array is dependent upon the members’ willingness to provide capital. This is a decision that is best left with the credit union industry.”
Hosted by the Maryland and District of Columbia Credit Union Association, the 2012 annual conference brought in more than 250 credit union professional and volunteers to Ocean City, Md. The event spanned three days and consisted of credit union networking, meetings and speakers. Maryland and District of Columbia Credit Union Association President and CEO John Bratsakis moderated the Fryzel-Cheney panel.
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
98 million account holders in all federal credit
unions and the overwhelming majority of
state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.