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March 02, 2021

NAFCU: Advocacy, compliance, education to help CUs grow

Credit unions are NAFCU's passion. The association was founded in 1967 to be the industry's voice at the federal level, and in those 54 years its commitment to helping credit unions grow and thrive hasn't wavered. NAFCU accomplishes big wins by providing the industry's best ACE: Advocacy, compliance assistance, and education. As a result, the association has seen its membership grow nearly 50 percent in the past eight years and now represents more than half of the federally-insured credit union industry's assets.

Advocacy

NAFCU has secured its position as credit unions' leading federal advocate by building strong relationships with decision makers and taking stances to support the industry – with members' direct feedback guiding its bold advocacy strategy. The association effectively secures policy wins that provide credit unions with the tools and resources needed to support their 123 million members. See some of the key wins secured by NAFCU's advocacy last year.

As credit unions continue to work to support their members amid the coronavirus pandemic and help the nation recover from the economic effects, NAFCU is in constant communication with lawmakers on Capitol Hill and regulators. The association is currently engaged as the NCUA reviews the status of the National Credit Union Share Insurance Fund – arguing against a premium assessment and advocating for additional flexibilities and tools to keep resources with credit unions and their members – and as Congress works to pass another round of coronavirus relief.

Compliance

The association's award-winning compliance team is focused on helping credit unions understand and maneuver the ever-changing regulatory environment. NAFCU develops more than 190 compliance resources and responds to more than 9,000 questions from member credit unions – within one business day – each year.

To help credit unions sort through changes made in the coronavirus relief packages, NAFCU has developed several summary charts to highlight key provisions, expiration dates, and primary agencies. Access all coronavirus resources here. The compliance team also publishes a blog three times a week to provide insights and resources into trending compliance issues, such as fair lending exams, Bank Secrecy Act (BSA) requirements, litigation risks, and more.

Education

NAFCU is known for providing top-rated industry education for credit union professionals looking to take their careers and institutions to the next level. Over the past year, the association has revamped its Online Training Center to give credit unions easier access to new content and an improved overall user experience from any device, leveraged technology to pivot in-person conferences to virtual events, and found new opportunities to bring the industry together amid the coronavirus pandemic, such as its landmark State of the Industry event and expansion of the NAFCU Networks.

This year, NAFCU remains committed to providing best-in-class education and training to its members: The association has taken a hybrid approach to several of its conferences to give credit unions the power to choose between in-person and virtual offerings to provide for attendee convenience, safety, and health. See the full conference lineup and register for upcoming events.

Regardless of uncertainty or challenges, credit unions can count on NAFCU. Learn more about how the association is delivering on its promise to provide the industry's best ACE.

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