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Fryzel Urges NAFCU to “Take Another Step”

WASHINGTON (Sept. 12, 2012) – While addressing members of the National Association of Federal Credit Unions (NAFCU) at their yearly Congressional Caucus, National Credit Union Administration (NCUA) Board Member Michael E. Fryzel urged the group to take another step and fully engage on legislative issues and in the upcoming congressional election.

“Through 45 years NAFCU has carried out the mission of looking after the interest of federal credit unions with energy and effectiveness. Without NAFCU’s work, it’s hard to imagine that credit unions would now boast 93 million members in a system that saves American families billions of dollars a year when compared to other financial services,” said Fryzel. “Now I urge you take another step, to fully engage yourself in the election of Congressmen who not only champion credit unions but also are willing to be realists, who look far into the future rather than into the next political rally or the next election.”
Fryzel asked the group to remind Congress of “the great work credit unions do for establishing sensible credit and spreading financial literacy in states and communities” and to “urge new laws raising the member business loan cap and allowing alternative capital.”
Fryzel continued by encouraging participants to vote in the upcoming elections for officials who can “reach across the aisle and work with all sorts of other persons, men and women who put their country above their personal agendas, persons who work to solve problems rather than chase rainbows.” Fryzel added, “We need persons who despite their own opinions of others or even theories of government are willing to set aside differences to pass laws that support thrift and industry, creating a proper environment for trade and business.”
“There are never times when everything is good. All times have their struggles. This was true of the persons who against long odds started credit unions. This is true now,” concluded Fryzel. “Don’t shrink from the struggles and challenges of our times. Face them head on. Find men and women who in Congress can face them head on. In our nation’s past, hard-working practical people built a better future. We call it the present. Now it is your turn to build a better future. Do it here in Washington. Do it when you go home. Do it on November 6th.” 
The full text of Board Member Fryzel’s address is available online at

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

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Ben C. Hardaway
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Kenzie Snowden
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"Protecting credit unions and the consumers who own them through effective regulation"