JAMESBURG, N.J. (June 26, 2012) – National Credit Union Administration (NCUA) Board Member Michael E. Fryzel, at the invitation of New Jersey Credit Union League President Paul Gentile, addressed credit union CEOs and leaders at a breakfast here today. During his presentation, Fryzel urged Garden State credit unions to continue helping their members struggling with economic difficulties.
“The state of New Jersey continues to face economic struggles, as does the nation. It is important that you continue to provide your members with the services and loans they need,” said Fryzel. “Credit unions have shown the country they remain true to their principles: They have kept lending and kept helping their members and one another without costing the American taxpayers a single dollar. You must take this opportunity to boost credit union participation and good works to an even higher level.”
During the breakfast, Board Member Fryzel continued to share his thoughts on industry happenings. Topics discussed included the status of NCUA’s Corporate Resolution Plan, economic issues affecting consumer credit unions, pending NCUA rulemakings, the proposed rules of other federal agencies and the future of credit unions. After his address Board Member Fryzel took questions from the audience.
Founded in 1934, the New Jersey Credit Union League is the official state trade association for credit unions in New Jersey.
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
99 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.