The National Association of Federal Credit Unions’ (NAFCU) announced plans to change its name to the National Association of Federally-Insured Credit Unions, reflecting the newly provided right for each member to vote and serve on the NAFCU Board of Directors.
The NAFCU board voted unanimously to change the name of the association, effective Jan. 1, 2017. The NAFCU acronym will remain the same as an effort to preserve the association’s brand recognition.
“While our name change reflects our mission to serve all federally-insured credit unions, our focus remains the same,” said NAFCU Chair Richard Harris, president and CEO of Caltech Employees Federal Credit Union. “We remain committed to providing the best in advocacy, education and compliance assistance at the federal level.”
In addition, the NAFCU membership approved unanimous recommendations from the board to amend the articles of incorporation for the association. The amendments give federally-insured, state-chartered members full membership. The focus of any NAFCU credit union issues at the federal level is being enforced as well.
The NAFCU will continue to advocate for credit unions at the federal level. The association will continue to focus on obtaining regulatory relief for the industry from NCUA, CFPB and other regulators.