Working Tirelessly to Help Credit Unions Thrive

2021 Accomplishments for Credit Unions

Everything we do is geared toward helping you grow. You won’t meet a more passionate, member-driven team to help you take your credit union to new heights and be the best financial institution possible. Here are some of the ways we’ve provided our members with the industry’s best ACE—Advocacy, Compliance assistance, and Education—in 2021.

(Not a member yet? Learn more about membership or contact our VP of Membership and Sales Catherine Porterfield at 703.842.2209 or cporterfield@nafcu.org)

2021 CU Tax Exemption Study

Banks refuse to stop trying to eliminate our tax exemption. But the independent study NAFCU commissioned proves that our tax exemption is a crucially important piece of the American economy—and we’re using these facts to fight bankers’ relentless attacks.

Download Key Findings Infographic  Download Full Study

More 2021 Accomplishments

The past two years have seen unprecedented challenges within the industry; NAFCU is dedicated to helping your credit union successfully power through them and grow. Together, we’ve achieved these great wins in 2021.

Download our 2021 Accomplishments for Credit Unions

Learn more about membership.


 

Growth

NAFCU Membership


 

Advocacy

Legislative And Regulatory Wins

  • Greater loss mitigation flexibility as the NCUA finalized a rule permitting the capitalization of interest on loan modifications for borrowers
  • Legislation modernizing BSA/AML statutes enacted
  • The Supreme Court struck down the expansive definition of “autodialer” that would have swept in cell phones and subjected credit unions to costly, frivolous class action lawsuits
  • FHFA policy reform eliminating the adverse market fee on mortgage refinance loans sold to the GSEs
  • Troubled debt restructuring flexibility secured via legislative provisions
  • Governance policy modifications introduced in the Senate and House of Representatives to protect credit unions, members, and employees
  • Introduction of legislation to give credit unions greater ability to serve small business members
  • Bank chartering for non-bank fintechs opposed via testimony before Congress
  • Successfully opposed expanded NCUA authorities over the SIF

Working for you Amid the The Pandemic

  • Temporary asset threshold relief from the NCUA tempering the impact of record-high asset growth
  • Simplified forgiveness of PPP loans legislatively secured; testified before Congress on continuing challenges
  • Partnered with the SBA and the EXIM Bank to promote small business lending
  • 100+ letters sent to advance policy issues
  • 400+ national media stories recognizing credit unions
  • Secured additional funding for credit unions that are CDFIs

Capitol Building


 

Compliance

Shepherding Credit Unions to Compliance Success

NAFCU Phone


 

Education

Delivering Training and Networking Opportunities

  • Offered 13 virtual and hybrid conferences and events
  • Our Online Training Center served 5,400+ credit union industry professionals streaming 18,000+ hours of content.
  • 400+ professionals at 120+ credit unions have watched our refreshed New Staff Online Training, now available free for members
  • Nearly 3,000 professionals have earned our industry-leading certifications for compliance, risk, BSA and volunteer expertise
  • Added the ONES + CFPB Supervision Network, for a total of 8 NAFCU Networks. 13,000+ registered users can connect with peers to share ideas and solve challenges with fellow credit union professionals

Connected Blocks


 

NAFCU Services

NAFCU Services

Championing Credit Unions

  • 30 trusted, vetted business partners helping credit unions transform and grow
  • Connecting 30,000+ credit union professionals with the latest research, market intelligence, and best practices. Our Preferred Partners supported credit union ingenuity through the crisis with new products and cutting-edge content
  • 200+ complimentary educational webinars, podcasts, blog posts, demos, and more