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Fryzel Urges African-American Credit Unions to Continue Underserved Outreach

Charleston, S.C. (Aug. 3, 2012) – As a featured speaker at the African-American Credit Union Coalition’s 14th Annual Conference, National Credit Union Administration (NCUA) Board Member Michael E. Fryzel discussed the importance of serving the underserved before an audience of credit union professionals, volunteers, and nonprofit member organizations here today.

“Credit unions need to continue to provide financial services to low-income individuals,” Fryzel said. “The work you already do to reach minorities and the underserved is admirable. Your goals and objectives of increasing the number of minorities in the credit union industry along with your outreach of the credit union movement in African countries and in the United States through credit union mentoring, providing scholarship programs and educational opportunities are important efforts as economic struggles abound.”

Fryzel then quoted the late Dr. Martin Luther King, Jr., saying, “Life’s most persistent and urgent question is: What are you doing for others?” Fryzel commended the coalition for their service to others, dedication, and commitment to the credit union philosophy and charged the group to “learn from one another and leave Charleston with new energy.”

Fryzel concluded his remarks with his standing call to action for credit unions. “Use the credit union philosophy to bring America back home to its tried and tested values of work, achievement and helping others,” said Fryzel.

The African-American Credit Union Coalition is a nonprofit organization of African-American and African descent professionals and volunteers in the credit union movement.

To view 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.


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