WASHINGTON (12/3/07)--The White House late Friday announced President George W. Bush's intention to nominate Mike Fryzel, an Illinois real estate lawyer and former director of the state's Department of Financial Institutions, to fill a vacancy that will be created when Chairman JoAnn Johnson leaves her position as chairman of the National Credit Union Administration (NCUA). Johnson's term expired in August of this year. She has been on the NCUA board since 2002 and served as chairman since 2004. She replaced Dennis Dollar who retired from the board in April 2004. The White House announcement said the President intends to designate Fryzel chairperson of the agency upon confirmation. His term would expire on Aug. 2, 2013. Fryzel currently serves on the Illinois Governor's Board of Credit Union Advisors and has been a member of the Governor's Cabinet. He received his bachelor's degree from Valparaiso University, his MBA from the University of Chicago, and his JD from Loyola University of Chicago School of Law. Following the White House announcement, Johnson issued a statement saying that serving as part of the NCUA board for six years has been “an honor in every sense of the word.” “During that time, the challenges faced by the Agency and the industry we regulate have been real, but have been transformed into opportunities instead of obstacles thanks to the extraordinary talents of the people who contribute so much to the American people through their work with credit unions,” Johnson said and pledged to remain as chairman until Fryzel can be confirmed. On behalf of the Credit Union National Association (CUNA) and its 8,000 members, President/CEO Dan Mica offered credit unions’ “sincere thanks” to Johnson for “rendering dedicated public service” through her work at the NCUA. “Throughout her complete six-year tenure on the board, Chairman Johnson has shown both a commitment to the continued safety and soundness of credit unions on behalf of American consumers, as well as an affinity for the movement’s philosophy of ‘people helping people.’ “We appreciate the solid effort she contributed as a credit union regulator, and wish her the very best in the future,” Mica said Friday.