NAFCU: The Only Association Exclusively Representing FCUs

NAFCU touts itself as the only trade association exclusively representing the interests of federal credit unions. It was created initially to persuade Congress to establish a share insurance fund for credit unions and was successful in that fight. NAFCU President and CEO Fred Becker credited the insurance fund with preparing “credit unions for the pivotal decade of the 1970s and powered the tremendous growth that has since followed.” “NAFCU has consistently played a crucial role in preserving the independence and integrity of NCUA and unique structure of the NCUSIF,” Becker said. “We have readily joined in partnership with other credit union trade associations when storm clouds have gathered for the industry, often taking the leadership role on legislative and regulatory issues and initiatives affecting the federal charter.” Becker applauded his staff with being “ahead of the curve” regarding regulatory hurdles and, if legislation is necessary, “NAFCU is generally first in line knocking on Congress’ door.” NAFCU has also developed a wide range of top-rated educational conferences, he pointed out. “Looking into the future, NAFCU will continue its fight against the bankers’ attacks while always keeping a keen eye on finding ways-regulatorily, legislatively, educationally-to enhance the federal charter,” Becker said. But he admitted that a trade association is only as strong as its foot soldiers. “In that sense, this trade association has been blessed by the active participation and dedication of a cadre of true credit union leaders whose talents are evident in everything we do as a direct membership association,” he said. “The credit union community, like a shark, needs to keep moving-responding to members financial needs and aspirations-to survive. NAFCU is solely dedicated to keeping the credit union community moving and meeting head-on any entity trying to slow it down.” While the number of federal credit unions has been halved since its peak in the 1970s, NAFCU’s membership has grown more than 1,000% in that same time period. [email protected]