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The Honorable Michael E. Fryzel, Chairman
Michael E. Fryzel was sworn into office as Chairman of the National Credit Union
Administration July 29, 2008. President George W. Bush nominated Mr. Fryzel to the
NCUA Board on November 30, 2007, and his nomination was confirmed by the U.S. Senate
June 26, 2008. The NCUA Board consists of three members appointed by the President
and confirmed by the Senate to regulate all federally chartered credit unions and
administer the federal fund insuring member accounts in approximately 8,000 credit
unions nationwide.
Prior to his NCUA service, Fryzel was an attorney in private practice specializing
in financial, regulatory and real estate law. In that capacity, he represented credit
unions and other financial service industries as well as various trade organizations.
Fryzel also served as DUI Prosecutor for the Illinois Secretary of State and Hearing
Officer for the Motor Vehicle Review Board.
An Illinois native, Mr. Fryzel moved into private practice after a career spanning
many years serving in Illinois state government. His career began as Director of
Administration and Fiscal Manager in the Governor’s Office of Human Resources and
it culminated as the Director of the Illinois Department of Financial Institutions
from 1982 to 1989. In the intervening years, Fryzel was staff assistant to both
the Illinois Speaker of the House and the House Minority Leader, Supervisor in the
Currency Exchange Division, Administrator of the Unclaimed Property Division, and
Supervisor of the Consumer Credit Division. The latter three are within the Illinois
Department of Financial Institutions.
A member of the Illinois and District of Columbia Bar Associations, Mr. Fryzel was
Commissioner of the Illinois Court of Claims from 1989 to 2003 and has served on
Illinois Governor’s Task Force on Financial Services and on the Governor’s Financial
Institution Transition Team. Mr. Fryzel served on the Illinois Governor’s Board
of Credit Union Advisors from 1992 to his NCUA appointment. His NCUA term expires
August 2, 2013.
Michael Fryzel holds a BS degree in Business Administration from Valparaiso University,
an MBA from the University of Chicago, and a JD from Loyola University School of
Law.
Mr. Fryzel and his wife, Gloria, have three children, Scott, Brian and Kimberly,
and six grandchildren.
The National Credit Union Administration (NCUA), governed by a three-member board,
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 deposits of
80 million account holders in all federal credit unions and many state-chartered
credit unions.