Michael E. Fryzel, a board member of the National Credit Union Administration, highlighted the importance of the state of Illinois to the credit union industry during a meeting held in the state’s capital on Wednesday.
“Illinois continues to retain its standing as the state with the largest number of federally insured, state-chartered credit unions,” Fryzel said during the Illinois Credit Union System’s Legislative Day in Springfield. “NCUA enjoys a close working relationship with the Illinois Department of Financial and Professional Regulation in our efforts to protect the funds of credit union members and maintain a safe and sound credit union financial network.”
Fryzel updated more than 120 event attendees on the state of credit unions, NCUA staff changes and pending rules and regulations.
“Sharing concerns and ideas with elected officials is an important role in maintaining open communication about offering the best financial services to Illinois citizens,” Fryzel said. “Your meetings continue to carry significant importance, and the success you achieve in them benefits the entire industry.”
The conference, which is hosted annually by the ICUS, allows state credit unions to meet with elected officials and discuss industry regulation.