The Washington Credit Union League said it is giving outgoing NCUA Chairman Michael Fryzel "a thank-you-well-done" pat on the back just days before his successor, Deborah Matz is sworn in next Monday.
In a proclamation adopted by its board, the league said Fryzel deserves "appreciation and recognition" for guiding the industry through one of its most perilous periods in history.
The one-page proclamation cites his leadership on corporate stabilization and his firm backing of an independent CU system and separate charter coming "in the midst of national consideration for re-regulation" and restructuring of the financial system.
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"The duties and responsibilities of the NCUA Chairman are significant," said John Annaloro, president/CEO. "Chairman Fryzel showed an ability to act at a time of crisis when other federal agencies were criticized for inaction. This, too, advances the policy logic that supports the continuance of an independent NCUA, long into the future."
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