NAFCU, CUNA, CUNA Mutual Stand Together in Support of NCUA’s Field of Membership Rule
WASHINGTON – The National Association of Federally-Insured Credit Unions (NAFCU), Credit Union National Association (CUNA) and CUNA Mutual Group today issued support for the National Credit Union Administration’s (NCUA) 2016 field of membership (FOM) rule in light of the American Bankers Association’s (ABA) call for the U.S. Court of Appeals for the D.C. Circuit to rehear its prior decision. The appeals court panel decision in August was largely in favor of the NCUA.
“NAFCU stands firmly with the NCUA, and its efforts to modernize credit unions’ field of membership rules,” said NAFCU President and CEO Dan Berger. “While the ABA continues its meritless attacks against credit union growth and competition, NAFCU will continue to support FOM modernization so that credit unions can serve their members, including the underserved, which banks have so often left behind. NAFCU strongly believes in the credit union industry’s cooperative, not-for-profit mission, and that credit unions provide the best financial solutions the marketplace has to offer.”
“The D.C. Circuit Court of Appeals found that credit unions are an important part of America’s financial tapestry,” said Jim Nussle, CUNA President/CEO. “That the bankers continue to spend time and resources to limit consumers’ access to responsible financial services is telling in how we approach our service to communities across the country.”
“CUNA Mutual Group continues to stand by NCUA and its authority to interpret the Federal Credit Union Act,” said Phil Tschudy, CUNA Mutual Group spokesperson. “We will continue to work diligently with CUNA and NAFCU to defend and promote credit union field of membership.”
Add to Calendar 2019-10-15 14:00:00 2019-10-15 14:00:00 Connect to Millennials Through Digital Education Lending About The Webinar Learn how hundreds of credit unions are using digital education lending to connect with Millennial borrowers for a potential lifetime of borrowing. Credit unions of all sizes partner with LendKey to increase millennial memberships, grow loan-to-share, boost yields, and enter digital lending in months--not years. Learn about LendKey while gaining valuable insights into the modern credit journey, current Millennial borrowing trends, and more. You will come away with valuable insights and strategy about: The cross-sell market opportunity for education lending How hundreds of credit unions are able to compete with rising marketplace lenders Liquidity options including modern participation loans and full-balance sheet options Learn more about this Innovation Award Winner, and see how you can quickly and cost-effectively grow your Millennial memberships. Watch the Webinar On-Demand Web NAFCU email@example.com America/New_York public
Get daily updates.
Subscribe to NAFCU today.