By Michael Fryzel
There are many definitions of the word “legend,” but the one I believe fits the individual I am about to describe is “famous or important person who is known for doing something extremely well.”
The person of whom I speak is known throughout the credit union industry and beyond. He is known not only for his ability to successfully manage and grow a credit union into a premier financial institution, but also for his knowledge and insight about the world of financial services. Regardless of the issue, he has a unique ability to dissect its components and present logical arguments for or against its value.
His accomplishments as a CEO are well known and will go down in the annals of credit unions as one of the most outstanding of an individual dedicated to the philosophy of people helping people.
Over a period of 37 years his credit union grew from $300 million to $33 billion in assets and from eight branches to 256. It has over two-million members and 5,800 employees. It is the second-largest credit union in the United States. Those accomplishments alone place him in an elite group of individuals who have reached goals through hard work and dedication that some can only dream of achieving. But there is much more to this person.
He is outspoken, opinionated, has the ability to discuss subjects ranging from recording stars of the past to the beauty of nature. He writes these thoughts every day in a format accessible to everyone to read and if they chose, provide comment. He finds the time, despite all his responsibilities, to tweak one’s imagination, encourage participation, urge individuals always to remain positive and keeps issues of importance in the spotlight.
Not Willing To Go Along To Get Along
As a result of being an individual unafraid to say what he thinks, he has at times been criticized for the positions he has taken. More often than not, credit union CEOs would rather go along to get along. Not this guy. He will stand up in the boat, rock it like crazy and if necessary, flip it over. Not your normal CEO.
Those who like him and his approach will not hesitate to applaud his accomplishments, dedication and willingness to take on issues others may run from.
Those who do not like what he says may call him eccentric, off the wall, out of touch and suffering from the many insect bites inflicted on him from living in the woods.
He has said that once he walks out the door, his daily posts will end and he may no longer take part in the discussions he has led for so many years. I and scores of others will miss that but if he so choses that path he will have earned it. He will have left behind a legacy that has earned him the designation “legend.”
I am certain there will be accolades written about this man and many awards from all sectors of the industry bestowed upon him. If anyone is deserving of the Herb Wegner Award it is him.
I am proud to know this person and feel fortunate to have been able to discuss ideas with him and learn from his knowledge. Aside from all his idiosyncrasies, I actually like him.
He has made the credit union industry far better than it would be without him. He clearly deserves that recognition.
Jim Blaine, you are a legend.
Michael Fryzel is the former chairman of NCUA and NCUA board member who is now in private practice in Chicago. Mr. Fryzel can be reached at meflaw@aol.com.