NAFCU Board, Fed Gov. Stein meet today
Dec. 4, 2013 – NAFCU’s board and senior executive staff are headed to the Federal Reserve Board this morning to meet with Fed Board Gov. Jeremy Stein on credit union issues and findings of the 2013 NAFCU Report on Credit Unions.
“Our 2013 NAFCU Report on Credit Unions shows that credit unions serve a vital role in our nation’s economy,” said NAFCU President and CEO Dan Berger. “This is the 21st year that the association is meeting with the Federal Reserve, and we appreciate the chance to continue our dialogue on issues essential to the credit union industry and the financial services environment.”
The NAFCU report looks at four key areas: regulatory issues facing credit unions, credit unions’ use of Federal Reserve services, credit unions’ financial condition and economic benefits of credit unions to consumers.
The report shows increasing use by credit unions of the Federal Reserve’s financial institution services, for the majority of services offered. NAFCU members surveyed for this portion of the report said they hold a positive view of the quality of the Fed’s services and rated most of them “above average.” The results show corporate credit unions fill an important role, but usage of these institutions is falling.
In addition to Berger, other key NAFCU staff attending today’s meeting include Anthony Demangone, executive vice president and COO; Carrie Hunt, senior vice president of government affairs and general counsel; and David Carrier, chief economist and director of research.
Today’s meeting will also address credit unions’ financial condition, broader economic trends and regulatory and legislative challenges facing the credit union industry.
2013 NAFCU Report on Credit Unions