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CU 'Common Purpose' Is Powerful Legacy, Fryzel Tells GAC

WASHINGTON (2/27/13)--National Credit Union Administration board member Michael Fryzel told a crowd of more than 4,200

Click to view larger image Addressing the CUNA 2013 GAC, NCUA board member Michael Fryzel applauds credit unions for continuing to lend to their members and members' families to help them through difficult times. (CUNA photo)

credit union officials that their joint vision and values rescued the industry from the recent recession and honored what their predecessors had created.

He was addressing the Credit Union National Association's 2013 Governmental Affairs Conference held here through Thursday.

Fryzel said that during the country's recent financial crisis, the "people who made up the credit union system held together, and because of that, the system held together."

"We all rolled up our sleeves. All of us hauled new timbers. We rebuilt the system ourselves, a system that is going to last," he said.

The NCUA board member also applauded credit unions for continuing to lend to their members and members' families to help them through difficult times. The credit union audience got a pat on the back for being part of a system that accepts challenges together and can take pride in their accomplishments.

Fryzel, who was chairman of the NCUA board when it conserved U.S. Central FCU and Western Corporate FCU in March 2009, recounted some of the initiatives that the agency took to stabilize the industry. These included the Credit Union System Investment Program and the Credit Union Homeowners Affordability Relief Program.

Fryzel, who joined the board in 2008 after being appointed by President George W. Bush to a term that expires in August, encouraged the credit union representatives to continue to live out their vision.

He told the credit union leaders that you "wrestled with current problems and tamed them with your vision of the future.'' And he encouraged attendees to ensure that members of Congress "understand what cooperative credit unions are, the work cooperative credit unions do, and the great potential cooperative credit unions have for the people and the economy of this country.''

"Vision" is a powerful theme of this year's GAC. During the Monday morning session, CUNA President/CEO Bill Cheney presented a bold new, overarching strategic vision for the credit union movement: A vision in which "Americans choose credit unions as their best financial partner."

He outlined this strategic vision, and how credit unions can "Unite for Good" to achieve it was the focus of the CUNA leader's remarks to the 4,200 participants at the opening general session of CUNA's 2013 Governmental Affairs Conference.

Cheney stressed that developing a vision where Americans choose credit unions as their best financial partner stemmed from more than one year of discussions with credit union and league leaders, credit union system partners, and CUNA's own leadership.


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