Board Member Briefs Conference on Industry Issues, says Future “Bright”
ALEXANDRIA, Va. (June 11, 2013) – National Credit Union Administration (NCUA) Board Member Michael E. Fryzel commended representatives from Maryland and District of Columbia credit unions for their service to their members and said, “the future remains bright.”
Fryzel delivered the keynote speech at the 2013 Annual Meeting and Convention of the Maryland and District of Columbia Credit Union Association in Ocean City, Md., taking questions afterwards.
“The future of credit unions remains bright,” Fryzel said. “Our corporates are stronger and better structured and our economy slowly continues to improve. The opportunity for credit union growth continues to rise, and credit unions’ commitment to their members and the philosophy they were founded on remains strong. In order to continue as the premier financial service industry in the country, they must always provide the outstanding service to their members for which they have become known.”
Fryzel provided the group with an update on natural person and corporate credit unions, pending and proposed rules, underwriter settlements and pending federal legislation. He also updated the group on staff changes within NCUA and discussed how Maryland and D.C. credit unions are faring in comparison to the rest of the nation while outlining his vision for the future of credit unions. He also praised the region’s credit unions for their efforts to meet the needs of their members during times of growing economic uncertainty.
“Maryland and D.C. credit unions have seen the economic struggles of their members and the toll the housing market has had on them,” he said. “As growing economic uncertainly continues to plague the region, I commend you for the strides you’ve taken to meet members’ needs.”
More than 240 credit union professionals and volunteers attended the conference. The event spanned three days and consisted of credit union networking, meetings and speakers.
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 nearly 100
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.