Lloyd Fredendall will retire from NuMark Credit Union at the end of March following a 35+ year career in the movement. He started with the Illinois Department of Financial Institutions (now known as IDFPR) in 1988 as Assistant Supervisor/Acting Supervisor.
In 1991, Lloyd became President/CEO of NorthStar Credit Union (then known as Naper Tech FCU) and now called NuMark following a successful merger amid the pandemic. “I am very proud of how well the merger went between NorthStar and NuMark. The boards and management teams were laser focused on our main goal of improving member benefits,” he said.
“We took the best parts of both credit unions and combined them to create an even better organization,” said Lloyd. We have continued to see good organic growth in terms of member deposits, locations, and team members. “We feel this proves the members are finding value in the changes.”
Lloyd believes putting members first and doing what is best for members drives success at his credit union and for the movement. His favorite memories are a compilation of being able to help members achieve their dreams and working with like-minded people who embody the cooperative spirit of credit unions.
He will not miss “the never-ending legislative and regulatory challenges facing credit unions which have unintended (negative) consequences for consumers,” and hopes there continues to be a bright future.
“I’ve never understood why credit unions aren’t the preferred financial provider for consumers,” said Lloyd . He would like to see a national marketing campaign focused on informing the public why credit unions are better. “Something similar to ‘Open Your Eyes’ that’s aimed at a wider audience,” he added.
Travel is a top priority for Lloyd and his wife, Vicki. They purchased an RV and plan to take a “monster trip” through the western US lasting 30-45 days. They plan to take their time visiting the Grand Canyon, Napa Valley, and the Redwood Forest as they make their way to Seattle where their daughter, Tori, lives. Their other daughter, Allie, lives in Chicago.
Lloyd and Vicki have another trip planned for this year where they will explore Europe from Italy to Monaco and ending in Ireland.
“I’ve been working since I was 14 years old. I had a paper route and sold Christmas trees. I’m a little nervous about being bored,” said Lloyd. His friends who are retired assure him he I won’t miss working.
“You don’t know how much time you have. My Dad retired at age 62 and enjoyed one year before becoming a caregiver for 8 years for my Mom,” said Lloyd.
At the end of it all, “it’s been an incredible run and I wouldn’t change a thing.”
