Chairman Fryzel Meets with Michigan State Regulator
February 3, 2009, Alexandria, Va. – National Credit Union Administration (NCUA) Chairman Michael E. Fryzel met last week with Michigan’s Office of Financial and Insurance Regulation Commissioner, Ken Ross, during a visit to St. Joseph, Michigan.
“NCUA and state financial regulators share the crucial role of maintaining safety and security in America’s credit unions,” Chairman Fryzel noted. “Commissioner Ross and I share important safety and soundness and consumer protection responsibilities. Particularly at times like these, where stresses in the markets have real and significant effects on credit union operations, I was pleased to take this opportunity to underscore the federal commitment to working with state regulators as we move forward together.”
Left to Right: (Chairman Fryzel and Ken Ross, Commissioner, Michigan Office of Financial and Insurance Regulation)
The National Credit Union Administration is the independent federal agency that regulates charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of nearly 88 million account holders in all federal credit unions and the majority of state-chartered credit unions.
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