Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NCUAs Fryzel calls for credit union nation
ALEXANDRIA, Va. (6/11/12)--National Credit Union Administration (NCUA) board member Michael Fryzel last week urged New York credit unions to "take the reins of a movement that is poised on the cusp of greatness, of great expansion, of new popularity" and turn the United States into "a credit union nation."

Speaking before the Credit Union Association of New York's annual convention in Bolton Landing, N.Y., Fryzel praised New York credit unions for their high levels of performance.

New York credit unions, he noted, have grown membership nearly two-thirds the national average, and have grown their member shares at the national average of 18.7%. Loan and capital growth rates have also exceeded national averages. "These are extraordinary results," he said.

"Right now ordinary Americans are seeing the pocket-book advantages of credit unions and opening accounts in record numbers. The credit union business-model makes sense to more and more people every day. People are seeing the advantage of an organization whose board of directors is pledged to work not for a profit but solely for the benefit of the persons who join," Fryzel said.

Overall, he added, credit unions "are a dynamic and developing industry" that can grow to reach every household in America. Those single accounts "can become five, and five accounts can lead to mortgages, auto loans, small business loans," all serving to families keep more of their hard-earned pay than they could by using alternative financial services, he said.

For more on the speech, use the resource link.
Other Resources

RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
1 day ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
1 day ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
1 day ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
1 day ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
1 day ago