LAS VEGAS (Oct. 9, 2013) – National Credit Union Administration (NCUA) Board Member Michael E. Fryzel today commended credit unions for their vigilance and dedication to the industry’s philosophy and praised those credit unions that have provided additional services to members affected during the continuing partial government shutdown.
Fryzel spoke at the National Credit Union Directors Roundtable Conference here.
Addressing nearly 280 credit union directors, Fryzel updated the group on NCUA, discussing topics that included the Corporate Resolution Plan, the performance of consumer credit unions, pending and proposed rule changes, staff changes within the agency, settlements with Wall Street investment banks, and the NCUA regional realignment. Fryzel also praised consumer credit unions for providing additional services to those affected during the recent partial government shutdown.
“Credit unions continue to remain vigilant and dedicated to meeting the needs of their members, holding true to the credit union philosophy of people helping people,” Fryzel said. “The efforts of many credit unions to go above and beyond to meet the needs of their members affected by the recent government shutdown reiterates why credit unions are the premier financial service organizations in the United States.”
When discussing NCUA initiatives, Board Member Fryzel cited credit unions’ potential to be the new community banks serving consumers across the country.
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
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.