Michigan Financial Institutions Bureau Commissioner Patrick M. McQueen today announced his appointment of Gary K. Mielock as the Bureau's new Chief Deputy Commissioner. Mielock replaces Russell Kropschot, who retired last month after 35 years with the FIB.

Mr. Mielock will oversee a staff of approximately 125 employees and an annual budget in excess of $11 million. The Financial Institutions Bureau is charged with regulating Michigan's state-chartered banks and credit unions, totaling over 450 institutions with assets in excess of $100 billion. Over 4000 non-depository lenders, including first and second mortgage companies, regulatory loan companies, BIDCOs, Motor Vehicle Sales Finance, and money order sellers are also regulated by the bureau.

Prior to joining the FIB in 1974, Gary Mielock was a trust officer at Manufacturers National Bank of Detroit. Mr. Mielock has held progressively more responsible positions with FIB, and was named Deputy Commissioner in 1981. In 1995, he was elected to a one year term as Chairman of the Board of the National Association of State Credit Union Supervisors. As Chief Deputy Commissioner, Mr. Mielock serves as Commissioner McQueen's primary advisor and participates in the formulation and implementation of major policy issues for the bureau.

Mr. Mielock holds a Bachelor of Arts degree from Michigan State University and a Juris Doctor degree from Wayne State University Law School. He has taken post-graduate courses in law and trust administration at Wayne State University and at Northwestern University. Gary and his wife, Cathleen, live in a Lansing suburb and maintain a summer home in AuGres, Michigan.

The Financial Institutions Bureau is the primary regulator of Michigan's state-chartered banks, credit unions, savings banks, and over 4000 other licensed lenders.