Joliet, IL (May 14, 2025) |
NuMark Credit Union (NuMark) is excited to announce that as of April 1, Michelle Balog has taken over as the new President and CEO. Balog took over the position following the many years of leadership under Lloyd Fredendall.
Balog first got involved in the financial industry 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. She also spent a few years practicing law and teaching Ethics & Business Law at Xavier University as an adjunct professor in between her time banking. She then officially joining the credit union movement as the Executive Vice President at NuMark.
“A friend from my banking days made the switch some years earlier and thought I would love to work for a credit union,” said Balog on how she first got involved with the movement. “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.”
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. However, regardless of the challenges that NuMark faced over the years, they knew that working as a team for the good of members allowed the institution to come out stronger on the other side.
Putting members of the credit union and its surrounding communities first is a cornerstone of the credit union movement. Aside from making sure that member needs are met, and expectations are exceeded, NuMark also takes every opportunity possible to get out into the community and help support those in need – something that Balog greatly values.
“I love that NuMark is so generous and caring in our community,” Balog said when asked about her favorite part of working at NuMark. “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.”
While NuMark is sad to say goodbye to Fredendall and grateful for his tenure, the credit union is excited for this new era under Balog’s leadership. Balog and the NuMark leadership team have already begun planning for future tech advancements and partnerships to further improve member experience and strengthen our relationship with the surrounding communities. She’s confident in NuMark’s future success in continuing to be a trusted financial partner for members, and is looking forward to more time working for an organization that she truly believes in.
“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,” said Balog. “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.’”
