MONTREAL – NAFCU announced late Tuesday it has expanded its field of membership to offer membership to federally insured, state chartered credit unions.
The bylaws change was unveiled at the trade association's business meeting at its annual conference.
"This announcement is a natural evolution of NAFCU's mission and supports our goal to help all credit unions with federal issues by becoming a stronger, more impactful organization," Ed Templeton, board chair and president/CEO of the $721 million SRPFCU, said in a release. "This unanimous decision included enthusiastic support from our board because it will further NAFCU's ability to provide the absolute best in member service and choice to all federally insured credit unions."
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Some federally insured, state chartered credit unions have full membership privileges as a result of converting from federal to state charters under NAFCU's once a member, always a member policy, the trade assocation said.
NAFCU stressed the move will not change its existing structure, products or services, saying it was business as usual.
President/CEO Dan Berger said the announcement marked a new day for the organization.
"The NAFCU board made this unanimous decision because our industry is rapidly evolving, and in a changing marketplace, credit unions are seeking more from their advocacy organizations. We've heard that message and are ready to rise to the challenge," he said. "The association is well-equipped to handle this change, and I am thrilled to be a part of a growing, dynamic organization that is taking the long-term view of being a leader for credit unions across the country."
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