NCUA Board Member Michael Fryzel and CUNA President/CEO Bill Cheney participated in a panel discussion Tuesday on topics affecting the credit union industry at the annual Maryland and District of Columbia Credit Union Association convention.
“The issues raised by credit union officials afford me great insight and assist me in my decision making. Hearing the views of individuals who work in credit unions everyday provides a fresh perspective. This type of open dialogue between our respective roles as regulator and the regulated is unique and vital for the continued success of the credit union industry,” Fryzel said.
Fryzel, who was chairman of the NCUA Board when U.S. Central Federal Credit Union and Western Corporate Federal Credit Union were placed into conservatorship, highlighted the need to continue the successful implementation of the corporate resolution plan, and discussed the natural person credit union relationship with corporate credit unions moving forward.
He said although corporates can provide all the services they provided before the corporate crisis, their services are dependent upon member credit unions’ willingness to provide them with capital, a decision best left to credit unions.
Cheney also made note of the corporate credit union discussion, saying “We … discussed the impact of the resolution of corporate credit unions on our own tenures in our current offices, as both of us were coming on board precisely when certain aspects of the corporate resolution were coming to bear. I think the audience learned much from our perspectives on these issues, which intersected in some cases and diverged in others.”
MDDCCUA President/CEO John Bratsakis moderated the panel.
The MDDCCUA’s 2012 annual conference brought more than 250 credit union professional and volunteers to Ocean City, Md.
The event spanned three days and consisted of credit union networking, meetings and speakers.