Media Advisory

Fryzel Welcomes Credit Union Service Providers

September 23, 2008, Alexandria, Va. – National Credit Union Administration (NCUA) Chairman Michael E. Fryzel welcomed Stan Hollen, CEO of the CO-OP Network and Carroll Beach, President of the Credit Union Services Corporation to NCUA headquarters today.

“The credit union industry is better able to enhance its member service offerings through organizations such as the Co-Op Network and Credit Union Services Corporation, and I appreciate hearing from Mr. Beach and Mr. Hollen about their respective operations. I am committed to making certain that credit union relationships with third-parties provide benefits to members in a safe and sound fashion, and will continue my outreach to all facets of the credit union system as part of a vigilant and active approach to regulation,” said Chairman Fryzel.

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 87 million account holders in all federal credit unions and the majority of state-chartered credit unions.

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