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NAFCU Board OKs Full Membership for State-Chartered CUs

One league CEO fears the move, which NAFCU members will begin voting on Wednesday, will fracture the credit union movement.

By Peter Strozniak | Updated on August 09, 2016

In what is expected to step up the competition for credit union members between NAFCU and CUNA, NAFCU said Tuesday its board unanimously voted to amend the national trade group’s articles of incorporation to give federally-insured, state-chartered credit unions full membership.

A vote will open to NAFCU’s membership Wednesday and close Sept. 9; if approved, state-chartered NAFCU members would have full voting rights and be eligible to vote on all NAFCU matters, including elections. In addition, full membership would allow state-chartered members to run for and serve on the NAFCU board.

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Peter Strozniak

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