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Inside Washington (06/01/2009)
* WASHINGTON (6/2/09)--During remarks at an annual credit union volunteers meeting Friday, National Credit Union Administration (NCUA) Chairman Michael Fryzel praised credit union volunteers and called on credit unions to participate in the reform of the corporate credit union system. During his speech, Fryzel detailed provisions of the new corporate credit union stabilization legislation, and applauded Congress and President Barack Obama for their “swift action” in passing the law. He also emphasized that volunteerism is the focus of the credit union philosophy. “When one looks at some of the founding documents of the credit union movement, from 100 years ago it was apparent that volunteer control of credit unions was considered an essential part of their make-up,” he said. The meeting, sponsored by the National Association of Federal Credit Unions, took place in Portland, Ore. ...


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