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Financial Service Needs

ALEXANDRIA, Va. (June 6, 2011) – National Credit Union Administration Board Member Michael E. Fryzel visited South Division Credit Union in Evergreen Park, Ill., last week where he met with the credit unions’ CEO Geri Burek, several Board Members, and key staff to discuss current industry happenings and NCUA perspectives.
“It is always a pleasure to visit credit unions that are doing so much for their members. South Division has capitalized on its ability to provide services to entire families,” stated Fryzel. “From their award winning Kid’s Club to their Student’s First accounts they have been able to teach today’s youth lessons of money management.”
“In addition, they also offer a wide range of financial services to meet the needs of parents and grandparents allowing the credit union to reach the financial service needs of entire families, an important outreach effort as the nation’s economy continues to struggle,” commented Fryzel.
Established in 1935, South Division initially served employees of AT&T (formerly Illinois Bell). Today, the credit union serves those whose household U.S. Postal Service zip code falls between 01000 and 99999. With over 8,000 members the credit union holds over $61 million in assets.
NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the U.S. government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 90 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.

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