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NAFCU touts CU difference on Capitol Hill

NAFCU’s award-winning advocacy team was on Capitol Hill Friday briefing legislative staff members on the credit union difference, including basics on structure, share insurance, regulatory oversight, industry priorities, and how credit unions are committed to serving their 135 million members.
NAFCU Senior Vice President of Government Affairs Greg Mesack, Vice President of Legislative Affairs Brad Thaler, Senior Director of Legislative Affairs Chad Adams, Senior Associate Director of Legislative Affairs Lewis Plush, and Senior Associate Director of Legislative Affairs Amber Milenkevich presented to dozens of staffers in the Rayburn House Building.
During the briefing, NAFCU detailed how the cooperative, non-profit structure of credit unions allows the industry to reinvest in its members and communities it serves, as well as the economic impact of the industry’s tax-exempt status.
In light of recent bank failures and turmoil in the financial system, the association touted credit unions as safe, secure, and reliable financial providers for Americans. As banks have closed more than 11,000 branches over the past decade, NAFCU highlighted how credit unions have stepped up to fill the voids and how allowing all credit unions to add underserved areas to their fields of membership would support consumers and Main Street small businesses.
NAFCU also shared legislative priorities for credit unions – including modernizing outdated requirements and reforming burdensome regulations that restrict industry growth – and the industry’s commitment to diversity, equity, and inclusion (DEI) efforts.
Learn more about the credit union difference and why credit unions are the best financial services providers for consumers. Credit unions are also encouraged to use NAFCU’s Grassroots Action Center to bolster the association’s advocacy efforts by contacting lawmakers and regulators directly on key issues.
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Add to Calendar 2023-09-22 14:00:00 2023-09-22 14:00:00 Understanding Credit Card Portfolio Sales & Agent Programs Both credit union and bank credit card issuers are under intense pressure from various sources, including competitor innovation, significant internal resource commitments, increasing operating expenses, uncertain regulatory and economic environments and a variety of capital and liquidity constraints. This has led to about 80% of all banks offering credit cards under an ‘agent issuing’ model, where a third-party issues credit cards under the financial institution’s name. While hundreds of credit unions do the same, and interest in this option has increased in the last two years, the majority of credit unions still own and manage this product themselves. Deciding whether this option can meet strategic, financial and member needs can be difficult to untangle. In this webinar, Understanding Credit Card Portfolio Sales & Agent Programs, you’ll delve into the structure of such programs, the financial and risk-profile impacts of such a decision, the contractual commitments required of both parties and discover evaluation tips and processes for any credit union that would like to evaluate this path. Key Takeaways Discover the structure of the agent issuing concept and obligations of both parties Understand the financial impact of entering such a program to the balance sheet, income statement, and critical performance ratios Ascertain the impacts to members, including both positive and negative possibilities Review the accompanying contractual structures and key considerations Develop an evaluation process that best protects the credit union’s financial and other outcomes Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until September 22, 2024.Go to the Online Training Center to access the webinar after purchase » Who Should Attend COOs CFOs NCCOs and compliance titles NCRMs and risk titles General counsel staff Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar CPA credit information is below; recommended 1.0 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Senior Associate Director of Education, NAFCU Learning Objectives: See key takeaways Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.0 credits Recommended Field of Study: Regulatory Ethics – Technical About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, DC. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU digital@nafcu.org America/New_York public
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