NuMark Credit Union Welcomes Lloyd Fredendall as New CEO
As a strategic collaboration, NorthStar Credit Union recently merged with NuMark Credit Union bringing two strong credit unions together to provide the best systems, products and services from both organizations.
Now that the conversion process is complete, Lloyd Fredendall, previously President and CEO of NorthStar Credit Union, has become the new President and CEO of NuMark Credit Union following Ann Dubie’s retirement after 40 years of service to credit unions.
“Our members come first in all that we do, and I am excited and honored to be able to work with such a talented and member-centric staff,” says Fredendall. “Now we can work together to create a greater member value than either credit union could have accomplished alone. NuMark now has an expanded branch network and the ability to invest in technology and service capabilities that will meet the demands of today’s consumers and support the growth of the credit union well into the future.”
Fredendall brings with him over 30 years of experience with credit unions. Following graduation from Northern Illinois University, Fredendall held three positions that led him to the credit union movement. He was a Fidelity Bond Underwriter for financially troubled Banks and S&Ls, a Savings & Loan Examiner for the Federal Home Loan Bank system, and the primary Regulator for State chartered credit unions with the Illinois Department of Financial Institutions–Credit Union Division.
“The more I read about credit unions, the more I began to see that this was the industry for me,” says Fredendall. “Credit unions are true financial cooperatives, led by volunteer board of directors. The entire credit union movement is based on the desire to help others. Not only did the credit union movement seemed poised for a very strong future, but the ‘people helping people’ philosophy aligned perfectly with my personal beliefs. To me, that phrase means something and should guide our everyday thinking towards…Members First!”
When he became CEO of NorthStar in 1991 then NaperTech FCU, the credit union had $16M in assets and were operating out of a single-leased office space. At the time of the merger with NuMark, NorthStar Credit Union had grown to over $200M in assets and 4 branch locations.
NuMark Credit Union has assets over $570M and offers products and services designed to help their 50,000 members do more with their money. Members have access to their money through online and mobile banking, 9 branch locations, 5,600+ shared branching locations and 55,000+ Surcharge-free ATMs worldwide.
“Simply put: Credit Unions do not exist without our members, so I am committed to NuMark’s success. I fully understand that success is only possible if we continue to have the products, services and processes that help all our members succeed with their financial goals,” says Fredendall. “When I think about the world today and the challenges our members face, there may never be a better time for us to rise above all of the noise and discord to do what we do best…putting our members first and treating them like family.”