by: Michael E. Fryzel, Board Member, NCUA
I had the opportunity to speak to an audience of more than 200 credit union professionals at the Defense Credit Union Council’s 49th Annual Conference, and discussed the difficulties America’s veterans face when entering the civilian workforce and called on credit unions to help ease this burden.
I encouraged credit unions to address the challenges facing veterans by making the effort a national priority. Calling on credit unions to lead the way in the veteran job creation effort. Let our motto be: “Help Our Heroes, Hire a Vet.”
This challenge builds on a recent Washington Post op-ed by former Chairman of the Joint Chiefs of Staff Admiral Michael Mullen. In the piece, Mullen reminded Americans that veterans are a tremendous human capital resource, but also that the unemployment rate for the youngest veterans returning from war has been close to 30 percent.
I believe our nations credit unions should take the one-thousand-veteran challenge. Credit unions should set a goal for themselves to hire and create jobs for one thousand veterans. Credit unions, both big and small, can play a role in the effort be it through direct hiring or making loans that aid in veteran job creation.
President Calvin Coolidge, once said, “The nation which forgets its defenders will itself be forgotten.” We can never, ever forget those who served to protect what we have in this great country. Defense credit unions have put themselves in the forefront of the credit union movement, and I do not expect you to lag in leading the veteran hiring movement.
Hire vets and encourage all your fellow credit unions to hire them as well.
The Honorable Michael E. Fryzel was appointed to the NCUA Board by President George W. Bush on November 30, 2007, his nomination was confirmed by the United States Senate and he was sworn into office as NCUA Chairman on July 29, 2008. Mr. Fryzel served in this position to August 24, 2009. His term on the NCUA Board expires August 2, 2013. During his service as Chairman, Mr. Fryzel was faced with what has been referred to as the most challenging time for credit unions. Through his leadership, Mr. Fryzel addressed a deteriorating situation involving the corporate credit unions.
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 92 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. www.NCUA.gov
