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In setting its priorities for 2012, NAFCU will build on its prior achievements to help credit unions thrive in a still challenging environment.

As regulators move forward in promulgating and implementing the Dodd-Frank Act, the association will remain vigilant and focus on alleviating compliance burden for federal credit unions. In addition, NAFCU will continue to push for greater transparency from regulators, work toward preserving federal credit unions' tax exempt status and continue its fervent advocacy and promotion of the industry.

"Last year, the challenges for credit unions continued, but NAFCU stood with federal credit unions, delivering the support they needed," said NAFCU President and CEO Fred Becker. "Looking ahead, while 2012 promises to hold challenges for the industry, the clouds are beginning to clear. Credit unions can be assured that NAFCU, as their direct advocate, is working vigorously on their behalf."

The association will continue its work in preserving the credit union tax exemption as lawmakers resume debate on major tax reforms. Last year, credit unions avoided a potential challenge to the tax exemption when the Joint Select Committee on Deficit Reduction failed to reach an agreement on $1.2 billion in deficit cuts.

NAFCU will also continue to work with the Consumer Financial Protection Bureau as it addresses vital credit union issues, including the CFPB'slatest iteration of mortgage forms that combine disclosure requirements under the Truth in Lending Act and the Real Estate Settlement Procedures Act.

NAFCU is also keeping an eye on developments that may impact payment card interchange fees.

These are just a few of the issues NAFCU will tackle in the coming year as it works to ensure credit unions' concerns are considered and addressed in any potential legislation and regulation.

NAFCU's 2012 priorities are:

• Preserve credit unions' federal tax exemption, which is based on credit unions' not-for-profit, member-owned structure.
• Ensure a balanced credit union chartering system that preserves the value of the federal charter and ensures the safe, sound operation of the National Credit Union Share Insurance Fund.
• Pursue greater member business lending authority for all credit unions.
• Advocate before Congress, the White House and regulators, including the Consumer Financial Protection Bureau, in seeking relief for credit unions from regulatory burden.
• Educate policymakers and the public about the value of credit unions' service to their members and their communities.
• Mitigate the costs to natural person credit unions of corporate stabilization assessments and federal share insurance fund premiums.
• Urge full transparency, fairness and consistency in NCUA's supervision, regulation and examination of credit unions.
• Advocate reasonable payment card interchange fees and preserve an effective Dodd-Frank Act fee-cap exemption for institutions with $10 billion in assets or less. Promote greater data security requirements on merchants and other unregulated entities that hold sensitive financial data.
• Monitor implementation of rules and changes for the corporate credit union system for their impact on natural person credit unions and corporates alike.
• Advocate regulatory and disclosure provisions that preserve the strength of credit union lending programs and products, including credit cards.
• Provide strong political support to federal candidates that understand and appreciate the interests of the credit union industry.
• Deliver programs and products, directly and with NAFCU Services Corporation, that support credit union operations, educate staff and volunteers, and promote best practices.