National Association of Federally-Insured Credit Unions: Prioritizing Credit Union Success

The National Association of Federally-Insured Credit Unions (NAFCU) is dedicated to promoting the success of credit unions nationwide. NAFCU's membership includes credit unions that are federally insured, meaning they are protected by the National Credit Union Administration (NCUA).

NAFCU's mission is to provide its members with the tools and resources they need to thrive in a rapidly changing financial landscape. This includes advocacy, education, and networking opportunities that help credit unions stay ahead of the curve.

NAFCU's advocacy efforts focus on promoting policies and regulations that support the interests of credit unions and their members. This includes working with lawmakers and regulators to shape the regulatory environment and ensure that credit unions have access to the resources they need to serve their communities.

By prioritizing credit union success, NAFCU helps its members build stronger, more resilient organizations that can better serve their members and contribute to the overall health of the financial system.

NAFCU is an industry trade group that represents the interests of federal credit unions, founded in 1967. It was established to promote the success and efficiency of the industry.

NAFCU's membership is made up of both large and small credit unions. Its members are dedicated to advancing the interests of federal credit unions.

The organization represents 72% of total federal credit union assets. This is a significant presence in the industry.

NAFCU's membership includes over 180 federally-insured state-chartered credit unions. These credit unions are a vital part of the organization's mission.

Headquartered in Arlington, Virginia, NAFCU plays a crucial role in influencing laws and regulations affecting federal credit unions.

The National Association of Federally-Insured Credit Unions (NAFCU) has been a powerful advocate for credit unions since its formation in 1967. Its first major policy victory was the establishment of the National Credit Union Share Insurance Fund, a deposit insurance program for credit unions.

The NAFCU has a long history of fighting for credit unions' interests, particularly in the 1990s when it battled efforts to roll back deposit insurance. This experience has given the organization a keen sense of the importance of advocacy.

The NAFCU has taken a strong stance against the Consumer Financial Protection Bureau's (CFPB) oversight of credit unions. According to the NAFCU, credit unions' non-profit and member-owned structure makes them deserving of a different level of scrutiny than for-profit banks.

In 2013, the NAFCU supported the Mortgage Choice Act (H.R. 3211), which aimed to make changes to the qualified mortgage definition in the Dodd-Frank Wall Street Reform and Consumer Protection Act. The NAFCU argued that this change would allow credit unions to offer more mortgage options to consumers.

The NAFCU also supported the Credit Union Share Insurance Fund Parity Act (H.R. 3468), which aimed to expand federal deposit insurance to include Interest on Lawyer Trust Accounts (IOLTAs) and similar escrow accounts housed within credit unions. This move would bring parity to accounts in credit unions and banks protected by the National Credit Union Share Insurance Fund and FDIC Bank Insurance Fund.

Related reading: National Credit Union Share Insurance Fund

The NAFCU's five-point plan for credit union regulatory relief includes advancing parity for accounts in credit unions and banks. This plan reflects the organization's commitment to advocating for credit unions' interests.

Here are some of the key bills supported by the NAFCU:

These bills demonstrate the NAFCU's focus on regulatory relief and its commitment to supporting credit unions and their members.

NAFCU's Mission is to promote the interests of federally-insured credit unions and their members. They do this by providing advocacy, education, and regulatory guidance to help credit unions grow and thrive.

NAFCU's advocacy efforts focus on issues affecting the credit union industry, such as regulatory reform and consumer protection. They work to create a favorable legislative and regulatory environment for credit unions.

NAFCU partners with other organizations to amplify their impact and achieve common goals. One of their notable partnerships is with the Credit Union National Association (CUNA).

The National Association of Federally-Insured Credit Unions, or NAFCU, has a clear focus on what matters most to its members. NAFCU is hyper-focused on advocacy, education, and compliance assistance.

According to Dan Berger, President & CEO of NAFCU, the association narrowed its focus by asking CEOs across the country what they wanted from a trade association. They all said the same three things: advocacy, education and training, and compliance assistance.

NAFCU's primary focus is now on providing top-notch advocacy, education, and compliance assistance to its members, which is exactly what they want.

The National Association's mission is to empower its members to make a positive impact in their communities.

With a strong focus on unity and solidarity, the National Association brings together individuals from diverse backgrounds to achieve common goals.

The organization's commitment to social justice and equality is evident in its advocacy efforts, which aim to create a more inclusive and equitable society.

By supporting local initiatives and community programs, the National Association fosters a sense of belonging and connection among its members.

Through its mission-driven approach, the National Association has made a tangible difference in the lives of countless individuals and families.

NAFCU, the National Association of Federally Insured Credit Unions, was created to serve the needs of its members.

Its primary focus is on Advocacy, Education, and Compliance Assistance.

The association narrowed its focus to these three areas after consulting with CEOs across the country, who all agreed on their importance.

NAFCU is now hyper-focused on these areas, using all its efforts and resources to provide the best possible support to its members.

CEOs love this approach, as it allows them to get the most out of their association membership.