NCUA Media Advisory
Fryzel: Small Credit Unions Play Large Role
Alexandria, Va., August 5, 2009 -- National Credit Union Administration
Chairman Michael E. Fryzel highlighted the importance of small credit unions to
the rest of the credit union industry during his address yesterday at the
Illinois Credit Union Leagues Small Asset Size Conference, in Naperville IL.
“The challenges facing Small Asset Size Credit Unions come in a wide variety:
competitive pressures, financial market turmoil and constant technological
changes are very real to your credit unions. And yet, you are closer to your
members, have a more immediate relationship than many of your larger brethren,
and have the ability to adapt and manage change as well as any other group in
the credit union movement,” noted Chairman Fryzel.
Chairman Fryzel noted small credit unions have historically been important to
the industry and commended the Illinois League for its efforts to educate and
assist small credit unions through seminars.
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
90 million account holders in all federal credit unions and the majority of
state-chartered credit unions.