NuMark Credit Union announced recently the retirement of its President and CEO, Lloyd Fredendall. The credit union is sad to see him go but wishes him the best in this next chapter of his life. His retirement will be effective March 31, 2025.
Fredendall has been a part of the credit union movement for over 30 years. He became President and CEO of the credit union after NuMark merged with NorthStar Credit Union (NorthStar) in 2021, taking over for previous CEO, Ann Dubie, after her retirement.
“When I started in my current role way back in 1991 at what was then the NaperTech Federal Credit Union, I honestly figured that I would be here for 2 to 3 years, but as we grew and sharpened our focus on our core mission of serving our members, we quickly became a family.” Said Fredendall about his time working at credit unions. “It was around then that I knew I found a place for life. I always believed in our mission and enjoyed working towards those member-oriented goals with an awesome group of people who live and breathe the idea of people helping people.”
After graduating from Northern Illinois University in 1983, Fredendall went on to work for a variety of organizations within the financial industry, including the Federal Home Loan Bank and Illinois Department of Financial Institutions (Credit Union Division). When he became CEO of NorthStar in 1991 — then called NaperTech FCU – the credit union was operating out of a single-leased office space and only had $16M in assets. By the time of the merger with NuMark and NorthStar, NorthStar had grown to four branch locations and over $200M in assets under Fredendall’s leadership.
NuMark is now proud to have 13 locations throughout the South suburbs of Chicago and has over $824M in assets. The credit union offers a full menu of services and products and serves over 60,000 members throughout the Southwest Chicago and Northwest Indiana area.
“I will of course miss the many Board members, Team members, and Credit Union members alike that I have befriended over the years,” added Fredendall. “However, I take great solace in knowing that our staff and members will be in the very capable hands of Michelle Balog who will soon be taking over the reins. On top of that, in my opinion Michelle is supported by one of, if not the best teams in the credit union industry.”
NuMark is incredibly grateful for the incredible leadership during Fredendall’s tenure with the organization. The credit union is determined to continue exemplifying Fredendall’s passion for the credit union movement and supporting the surrounding communities through financial assistance and community outreach.
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