Media Advisory

Statement of Michael E. Fryzel Regarding His Assumption of the NCUA Chairmanship

Alexandria, Va., July 7, 2008 –“I will take the oath of office and assume the duties of Chairman of the National Credit Union Administration at the end of July.  As required by law, I will be dissolving my law practice in Illinois during this interim period.  I eagerly anticipate the commencement of my service as Chairman.”

The National Credit Union Administration is the independent federal agency that charters and supervises federal credit unions.  NCUA, with the backing of the full faith and credit of the U.S. government, operates the National Credit Union Share Insurance Fund (NCUSIF), insuring the savings of nearly 87 million account holders in all federal credit unions and many state-chartered credit unions.

-NCUA-