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FOR IMMEDIATE RELEASE

NAFCU Statement on NCUA Board Meeting, Welcomes New NCUA Board Member Mark McWatters

Washington (September 18, 2014) - National Association of Federal Credit Unions (NAFCU) Director of Regulatory Affairs Mike Coleman issued the following statement in response to today's National Credit Union Administration (NCUA) Board meeting, the inaugural meeting for new NCUA Board Member Mark McWatters.

"We are pleased to welcome Mr. McWatters to NCUA and look forward to working with him and the rest of the NCUA board to promote a positive regulatory environment for credit unions," said Coleman.

"Moreover, we are pleased to see that the Temporary Corporate Credit Union Stabilization Fund continues to perform well and that credit unions will likely not face any more assessments."NAFCU continues to urge NCUA to exercise greater transparency byfully disclosing the amounts disbursed and allocated for each fund it administers. In particular, NAFCU encourages more transparency from NCUA on its management of the stabilization fund and the costs all insured credit unions will ultimately pay for corporate stabilization.

"NAFCU supports NCUA's efforts through this final rule to technically update the agency's regulations. We will continue to work with the agency to identify ways that NCUA can provide substantive regulatory relief for credit unions, such as those areas outlined in the association's "Dirty Dozen" list," said Coleman.

The National Association of Federal Credit Unions is the only national trade association that exclusively represents the interests of federally chartered credit unions before the federal government and the public.

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Contact: Patty Briotta | 703-842-2820 | pbriotta@nafcu.org