Fryzel updated the group on corporate credit unions, natural person credit unions, pending and proposed rules, staff changes within NCUA, underwriter settlements, pending federal legislation, and his vision of the future of credit unions, while also discussing the State of Illinois credit unions compared to the rest of the country.
“I commend Illinois for having the largest number of federally insured, state-chartered credit unions in the nation,” Fryzel said. “At NCUA we continue to work with Secretary Brent Adams and his staff at the Illinois Department of Financial and Professional Regulation to protect the funds of credit union members in Illinois as well as across the country. Safety and soundness remain our number one priority.”
Fryzel also highlighted the continued importance of events such as the Illinois Credit Union League’s Annual Legislative Conference by saying, “Your exchange of concerns and ideas coupled with the sharing of the credit union story with elected officials continues to have a positive impact. Your meetings continue to carry significant importance and the success you achieve in them continues to resonate throughout the industry as a whole.”
The conference hosted annually by the Illinois Credit Union System, allows the state’s credit unions the opportunity to meet with their elected state officials and discuss pending legislation.
Fryzel served as the director of the Illinois Department of Financial Institutions from 1982 to 1989, and served on the Illinois Governor’s Board of Credit Union Advisors from 1992 to his NCUA appointment in 2007.