JOLIET, Ill.–NuMark Credit Union has named a new president and CEO.
The $877.5-million NuMark CU has selected Michelle Balog to lead the organization, succeeding Lloyd Fredendall.
In a statement, NuMark said Balog first got involved in financial services while assisting in the regulatory compliance program at a community bank while in law school. While working there she not only was involved in legal and compliance but also had the opportunity to learn about the operational and sales aspects of bank, the credit union said.
Balog then spent several years practicing law and teaching ethics and business at Xavier University as an adjunct professor in between her time banking.
She joined NuMark as executive vice president in 2008.
‘A Lifetime Career’
“A friend from my banking days made the switch some years earlier and thought I would love to work for a credit union,” Balog said in a statement referring to her introduction to credit unions. “She referred me to the open position here at NuMark. At first, I thought I would stay for a couple of years and return to banking or private practice. Needless to say, once you realize the mission of credit unions and people helping people, it’s easy to see how so many people have made credit unions their lifetime career.”
Learning Curve
The credit union noted that during her time at NuMark Balog not only experienced the 2008 recession and housing crisis, but also managed during the global COVID-19 pandemic in 2020.
“Both of these events were big learning curves for how to manage branch operations, while also making sure that members’ needs were being met. COVID-19 was an especially difficult time, as the credit union needed to learn how to be agile and change how they do business overnight while meeting members’ expectations and keeping members and staff healthy and safe,” NuMark said.
Generous & Caring
Balog praised NuMark for the work it does outside of providing financial services.
“I love that NuMark is so generous and caring in our community,” Balog said in a statement. “As a tribute to our board members who volunteer their time for the credit union, we have worked closely with organizations that serve our veterans, including Wreaths Across America and the Honor Flight Network. We have also worked very closely with organizations that tackle food insecurity and improve the opportunities for individuals in our community. I absolutely love being able to volunteer for these organizations as part of my work at NuMark.
“I am very fortunate to have met so many great coworkers, members and colleagues in the credit union movement over the years and am very fortunate to have been mentored by both Ann Dubie and Lloyd Fredendall, who have set the best possible foundation for our future,” Balog continued. “I am looking forward to working with our board and staff to continue to serve the financial needs of our members and communities and building on what is already a strong organization. NuMark truly is ‘where you are family.’”