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News Now

Washington
Cheney Fryzel discuss MBLs other key CU issues
WASHINGTON (6/13/12)--Credit Union National Association (CUNA) President/CEO Bill Cheney and National Credit Union Administration (NCUA) Board Member Michael Fryzel discussed member business lending, the credit union tax status, examinations and other credit union issues at a Tuesday panel discussion at the 2012 annual convention of the Maryland and District of Columbia Credit Union Association (MDDCCUA).

Cheney said the panel featured "a productive discourse" on many issues, "including how credit unions would adjust to a higher cap on business loans, the future of supplemental capital, reducing regulatory burden and more." The Cheney/Fryzel panel discussion was moderated by MDDCCUA President/CEO John Bratsakis.

The panelists also discussed the impact of the resolution of corporate credit unions on their own tenures in their current offices. Both men arrived at their respective positions at key points in the resolution of the recent corporate credit union crisis.

Fryzel said the credit union system must continue the successful implementation of the corporate resolution plan, and noted that today's corporate credit unions "can provide all the services that were provided in the past. However, he said, "the service array is dependent upon the members' willingness to provide capital.

"This is a decision that is best left with the credit union industry," he said.

Fryzel said these types of open discussions with credit union officials give him "a fresh perspective" and help him in his decision-making. Open dialogue is "vital for the continued success of the credit union industry," he added.

Cheney said he thought the audience learned from their perspectives on these issues,"which intersected in some cases and diverged in others."
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