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The NAFCU Board goes to the Federal Reserve this morning to discuss credit union issues and present key findings from the association's 2012 Report on Credit Unions.

The meeting will be hosted by Janet Yellen, vice chair of the Federal Reserve Board of Governors. It will be the 20th annual meeting between the NAFCU Board and the Fed.

NAFCU President and CEO Fred Becker said the association appreciates Gov. Yellen's "openness and willingness to discuss issues of paramount interest to promote our nation's fiscal health."

The 2012 Report on Credit Unions covers four key areas: credit unions' financial condition; regulatory issues facing credit unions; credit union service to members and use of Federal Reserve services; and economic benefits of the credit union tax exemption for consumers, businesses and the U.S. economy.

Some of the highlights include:

• FICUs' total annualized share growth increased 10 percent during the first half of the year, outpacing total annualized loan growth (3.6 percent).
• FICUs' return on average assets, excluding corporate stabilization assessments, improved from 0.87 in December 2011 to 0.9 percent, annualized.
• Nearly 94 percent of credit unions surveyed have seen their regulatory burden increase since the passage of the Dodd-Frank Act in 2010.
• Electronic services provided by credit unions continue to grow, as do the number of credit unions offering these services.

The report is based on findings of an annual survey of NAFCU members and NAFCU's Economic and CU Monitor. NAFCU's Economic and CU Monitor is prepared monthly based on financial data from members and their input on other topics important to credit unions.

NAFCU's Report on Credit Unions will be available online starting today.