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CU System
Texas league meeting features Fryzel NASCARs Waltrip
FARMERS BRANCH, Texas (4/17/09)--NASCAR driver Michael Waltrip may be thankful he didn't take his NAPA racing helmet to the Texas Credit Union League's Annual Meeting and Expo this week in Austin because National Credit Union Administration (NCUA) Chair Michael Fryzel joked, "I might need it." It was Fryzel's first public speech since U.S. Central FCU and Western Corporate FCU (WesCorp) were placed into conservatorship in March. Waltrip and Fryzel were keynote speakers, addressing 650 credit union leaders, during the opening general session Wednesday (LoneStar Leaguer April 16). Fryzel called on credit unions to gain legislative support for NCUA's plan to replenish the National Credit Union Share Insurance Fund (NCUSIF). He also described the agency's ongoing efforts to stabilize and improve the corporate network. "To say these are challenging times is an understatement," he said. "But this movement was built by people working together, and by working cooperatively, we will make it stronger." While the movement has been under serious stress due to the corporate dislocations, Fryzel assured attendees that the NCUA has been and will continue to be interested in hearing from any and all responsible voices with ideas on how to mitigate the costs and renew the corporate network. He urged credit unions to roll up their sleeves and use their tradition of grassroots activism to help enact the NCUA bill's plan. Texas league President/CEO Dick Ensweiler noted that credit unions "will continue to work together to mitigate the impact of the corporate stabilization program on credit union bottom lines, including seeking legislation in Congress to spread any costs out over several years." Waltrip told attendees he knew very little about the credit union movement when he was asked to headline the session. He said he was equally impressed with Fryzel's candor, as well as the passion that seems prevalent in those who serve credit unions. "It takes a lot of courage to face challenges head on," Waltrip told the crowd. "But through resilience, the right attitude, confidence and enthusiasm, I firmly believe you can come out ahead."


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