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July 18, 2013 – NAFCU President and CEO Fred Becker told lawmakers today that credit unions need the option of supplemental capital to help them augment retained earnings and "continue to serve their members in the same way they do now."

Becker was a panelist with other credit union industry representatives in a congressional briefing held in the Cannon House Office Building to promote H.R. 719, a supplemental capital bill introduced this February by Reps. Peter King, R-N.Y., and Brad Sherman, D-Calif.

Supplemental capital, included in capital reforms sought as part of NAFCU's five-point plan for credit union regulatory relief, would be a valuable tool to help credit unions ensure a continued, high level of service amid ongoing growth in membership. "Credit unions have been seeing an influx in membership, which has only accelerated since the onset of the financial crisis," said Becker.

Today's briefing on H.R. 719, the "Capital Access for Small Business and Jobs Act," was hosted by the Coalition for Credit Union Access. Also attending was NAFCU Vice President of Legislative Affairs Brad Thaler.