|| NAFCU's Fred Becker briefed Tower FCU's
board Tuesday on the legislative and
regulatory climate, NAFCU advocacy efforts.
– NAFCU photo
Jan. 30, 2013 – NAFCU President and CEO Fred Becker briefed the board of Tower FCU via Skype Tuesday on developments in Congress, including “fiscal cliff” discussions and NAFCU’s ongoing efforts to prevent credit unions’ federal tax exemption from becoming a target.
Becker talked to the credit union leaders about the March 1 deadline for Congress and the administration to reach an agreement that would prevent across-the-board budget cuts. He also talked to the group about NAFCU’s advocacy efforts on credit card interchange, housing finance, regulatory relief, member business lending and data security.
The NAFCU president, comparing the performance of credit unions and banks, also pointed to signs that credit unions are generally in better financial shape than their bank competitors. For example:
- Credit union failures were nearly two-thirds lower than bank failures.
- Credit unions logged about 80 percent fewer problem institutions than banks.
- Credit union loan delinquency ratios were nearly two-thirds lower than banks’.
“We’re fortunate to be working in an environment where credit unions are maintaining steady improvement following the economic downturn,” Becker said Tuesday. “NAFCU’s goal in the coming year is to help the industry maintain that progress, and an important part of that will be the prevention of undue regulatory burden.”
Any credit union can request a virtual briefing from Becker and other association staff. Read more online, or send an email to firstname.lastname@example.org.