January 04, 2021

NAFCU preps bold advocacy agenda for 2021


As the 117th Congress gets underway and the Biden administration prepares to transition into the White House, NAFCU has launched its 2021 legislative and regulatory priorities to achieve an operating environment in which credit unions – and their 123 million members – can thrive.

"Credit unions have worked tirelessly to help Americans overcome adversity and hardship amid the coronavirus pandemic," said NAFCU President and CEO Dan Berger. "For both new and returning members of Congress, it is vital they understand the good work not-for-profit credit unions have done and will continue to do to lift American families and communities up during these uncertain times.

"We look forward to working with lawmakers on Capitol Hill as well as the Biden Administration to make sure credit unions have a strong seat at the table, and that they are empowered to help our nation and our economy fully recover. It is our mission to deliver this message to policymakers in 2021 and beyond."

The 117th Congress was sworn in yesterday, and President-elect Joe Biden's inauguration is set for Jan. 20. In a letter sent yesterday, Berger shared these priorities with congressional leadership and members of the House and Senate.

NAFCU's award-winning advocacy team also started its activity with the 117th Congress and Capitol Hill, welcoming new members and sharing the priorities with lawmakers and their staff to keep credit union issues top of mind. 

After tallying a series of wins last year, NAFCU will continue to build upon its five tenets, with priorities encompassing:

  • Growth: Supporting legislation and regulation that helps credit unions grow membership, loans and retained earnings.
  • Fair and Innovative Market: Fighting back against banker attacks and establishing regulatory standards for fintech and other non-depository institutions.
  • Regulatory Relief: Providing clear rules of the road and streamlining regulation that allows credit unions to put more resources towards serving members. 
  • Strong NCUA: Pressing for the NCUA to be the sole industry regulator and fostering a strong relationship with the agency to ensure credit unions’ voices and concerns are heard. 
  • Data Protection: Encouraging federal standards for data privacy and data security that recognize existing regulatory requirements for credit unions.  

NAFCU will remain personally invested in credit unions' growth and success by providing members with exceptional advocacy and member service, as well as access to the resources and connections needed to keep growing.