NAFCU said Friday its membership approved the board’s unanimous recommendation to give federally-insured, state-chartered member credit unions full membership.
This means federally-insured, state-chartered NAFCU members now have full voting rights and may run for and serve on the NAFCU board of directors.
The national trade organization did not release how many of its members voted for the board’s recommendation and how many voted against it. The membership voting process opened Aug. 10 and closed Friday.
“This decision is vital to the growth and success of NAFCU and supports our goal of serving all federally-insured credit unions at the federal level so we may become a stronger, more impactful organization,” NAFCU Chair Richard L. Harris said. “While this is great news for NAFCU and the industry, we remain focused on providing our members the best in federal advocacy, education and compliance assistance.”
Harris also said allowing state-chartered members to vote and sit on the board further strengthens NAFCU’s voice and ability to best represent its members before Congress, the NCUA, the CFPB and other key policymakers at the federal level.
“Our state-chartered members are now eligible to participate in the 2017 election cycle for the NAFCU board of directors,” he said.
NAFCU President/CEO Dan Berger also welcomed the decision.
“NAFCU’s board, staff and I are pleased with the membership’s decision to grant federally-insured, state-chartered members full voting rights,” Berger said. “State-chartered members make up an important and growing part of our membership. We expect state-chartered membership to grow even further with this decision.”
NAFCU said it will continue to advocate for credit unions on the federal level, with a focus on obtaining regulatory relief for the industry from the NCUA, the CFPB and other regulators.
