WASHINGTON — Credit unions have done such a great job of improving the financial lives of their members that they need to communicate that success when urging lawmakers to help the industry, NCUA Board Member Michael Fryzel told attendees at NAFCU's Congressional Caucus on Tuesday.
Fryzel, who as NCUA chairman presided over the initial stages of the corporate credit union crisis, praised the industry for how it helped their members navigate the economic downturn.
"While I hope that the worst is behind us, we have problems ahead. The high unemployment rate and a record number of mortgages that are underwater will pose continuing challenges,'' he told the gathering.
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