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FOR IMMEDIATE RELEASE

Washington (April 25, 2017) -The National Credit Union Administration's decision, announced today, to grant a charter and federal share insurance for Firefighters First Federal Credit Union of Los Angeles includes a designation that the institution has been chartered for the purpose of granting member business loans. This is a significant move on the agency's part and demonstrates the importance of credit union lending to member small businesses, said NAFCU President and CEO Dan Berger.

"Credit unions were created to provide their members a source of credit for provident and productive purposes, and helping members obtain the means to establish small businesses is a critical part of that mission," said Berger.

"NAFCU supports credit unions' efforts to ensure all their members have the resources and tools they need to achieve their goals," Berger continued. "We support NCUA's action and are committed to ensuring a regulatory environment that is friendly to credit union member business lending."

Firefighters First Federal Credit Union was previously a state-chartered credit union with private insurance.

The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation's federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go towww.nafcu.orgor @NAFCU on Twitter.