Background
The National Association of Federal Credit Unions is a respected and influential trade association that exclusively represents the interests of federal credit unions before the federal government and the public. Membership in NAFCU is direct; there are no state or local leagues, chapters or affiliations standing between NAFCU members and the NAFCU headquarters in Arlington, VA.
NAFCU provides its members with representation, information, education, and assistance to meet the challenges that cooperative financial institutions face in today's economic environment. The association stands as a national forum for the federal credit union community where new ideas, issues, concerns and trends can be identified, discussed, resolved.
NAFCU's Roots
NAFCU was founded in 1967 out of a desire by federal credit union leaders to have an independent voice in Washington that would focus exclusively on the needs and issues of federal credit unions. The association would have one specific, overriding purpose: to directly shape the laws and regulations under which federal credit unions operate.
NAFCU's Achievements on Behalf of Federal Credit Unions
From 1967 until today, NAFCU has been a highly effective force in influencing legislation and regulation affecting federal credit unions. The first major victory for the association came in 1970, when the association realized one of its major goals: federal share insurance for federal credit unions (the National Credit Union Share Insurance Fund).
Since this historic achievement, NAFCU has fought for these and other notable goals for federal credit unions, including:
- a separate federal regulator (the National Credit Union Administration);
- a central bank for liquidity purposes (the Central Liquidity Facility);
- expanded powers for credit unions (including mortgage lending, share drafts, and variable-rate accounts);
- expanded fields of membership, so more consumers could be served by credit unions;
- a lessened regulatory burden on credit unions;
- preservation of federal credit unions.
In the early 1990s, NAFCU stood alone in defending the structure and operations of the National Credit Union Share Insurance Fund, while other trade groups, regulators and even the White House advocated major changes in the fund.
NAFCU, again, was successful in its goal, protecting the insurance fund, thus maintaining the fund's record of being the strongest federal deposit insurance program in the nation and a shining example of the safety and soundness of credit unions.
View a more complete and up to date list of NAFCU's accomplishments.
NAFCU's Membership
NAFCU's membership consists of the nation's more innovative and dynamic federal credit unions having various and diverse membership bases and operations.
For example, while NAFCU counts within its membership a significant number of large credit unions with sophisticated operations (including more than four out of every five of the largest 100 federal credit unions), NAFCU also counts within its membership credit unions that are relatively small in size (less than $1 million in assets) and have relatively unadorned, limited operations.
NAFCU's Leadership
NAFCU is led by a knowledgeable and experienced 11-member board of directors that is elected directly from the membership by the membership of the association. One director is elected by credit unions from within each of NAFCU's five regions in the nation; the remaining six directors are elected by all NAFCU members on an at-large basis. The board members serve three-year terms.
NAFCU's history, leadership and services are all geared to one objective: to provide federal credit unions with outstanding service to flourish in today's financial and economic marketplace.
Join NAFCU
If you are interested in NAFCU membership for your credit union, send us an e-mail.
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