FOR IMMEDIATE RELEASE | November 02, 2017

NAFCU Statement on Powell Nomination as Federal Reserve Board Chair


Washington (November 2, 2017) –National Association of Federally-Insured Credit Unions (NAFCU) President and CEO Dan Berger issued the following statement today regarding President Donald Trump's nomination of current Federal Reserve Board Governor Jerome Powell to serve as the next Federal Reserve Board chair.

"NAFCU congratulates Governor Powell on his nomination, and weappreciate hisreadiness to hear credit unions' concerns affecting their members and communities," said Berger."We look forward to working with him as we continue our work with the Federal Reserve in seeking to ensure a positive regulatory environment in which credit unions can thrive."

The NAFCU Board of Directors met with Powell at Federal Reserve headquarters in Washington in 2014 and 2015 to present its annual Report on Credit Unions, which details the latest issues affecting credit unions and the impact the Fed's actions have on the industry.

If confirmed, Powell will serve a four-year term as chair of the Federal Reserve Board. Current Fed Chair Janet Yellen's term ends on Feb. 3.

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 @NAFCUon Twitter.


Jacqueline Ramsay