Membership Announcement FAQs

During the June 23, 2015 business meeting at our annual conference in Montréal, NAFCU announced the opening of our membership to all federally insured, state-chartered credit unions. Browse questions and answers about this historic change below. For additional questions and feedback, please contact NAFCU Vice President of Membership and Sales Catherine Safady at 703-842-2209 or csafady@nafcu.org.

  1. What is the announcement and why did NAFCU decide to make this announcement?
    NAFCU is opening its membership tofederally insured, state-chartered credit unions. The credit union industry is rapidly evolving. Credit unions are in a changing marketplace, and they're seeking more from their advocacy organization. We've heard that message and are excited to rise to that challenge and be the leader credit unions need and want.
  2. How was the decision made?
    The NAFCU Board of Directors unanimously voted on June 5, 2015 to open up membership to federally insured, state-chartered credit unions. The NAFCU staff was the first to be briefed on the change. NAFCU members were informed on June 23, and it was formally and publicly announced during our annual business meeting at our annual conference in Montréal later that day. The change is effective immediately and has the full, enthusiastic support of NAFCU's leadership and staff.
  3. How will this change your services?
    From a service standpoint, it will be business as usual – we will continue to offer our members the best in advocacy, education and compliance assistance at the federal level. With the inclusion of additional federally insured, state-chartered members, we will further strengthen our voice to bring you the best in representation before Congress, the NCUA, the CFPB and other key policymakers at the federal level.
  4. Are you equipped to represent state-chartered credit unions?
    Yes. In fact, we currently serve numerous federally insured, state-chartered credit unions (currently 26) that were grandfathered into our membership under our once-a-member, always-a-member policy (they were originally federally-chartered members before converting to state charters). They have been a vital part of our membership, and our valuable relationship with them is part of the success story we want to share with new and potential federally insured, state-chartered members.
  5. What are your next steps? When and how will you begin recruiting new, state-chartered members?
    First, for our dedicated and passionate staff, it is business as usual. They stand ready to continue providing current members with best-in-class service and engaging them on the federal legislative, regulatory and compliance issues that affect them the most. We welcome all federally insured, state-chartered credit unions to join NAFCU, and we're prepared for growth.

    Second, in the coming months, NAFCU leadership will travel the country to meet with current members and potential members, both federally and state-chartered. We look forward to seeing you, hearing about your organization's needs and learning how we can best serve you.
  6. What will state-chartered membership look like?
    Federally insured, state-chartered credit unions that join NAFCU will be associate members. While they'll have the full access to all NAFCU-member benefits, they won't be able to vote in elections or run for board positions, but can serve on committees. 

    There is one exception, and that is for former, federally insured, state-chartered NAFCU members that rejoin. Such institutions will continue to be grandfathered in and will enjoy full voting rights.
  7. What can I do (as a current member)?
    Give us your feedback! In the coming months NAFCU leadership will travel the country to meet with current members and potential members, both federal and state chartered. We look forward to seeing you and will continue to keep open and direct lines of communication with you. In that time, it will otherwise be business as usual for NAFCU's dedicated staff, and we look forward to your feedback, ideas and questions about how we can best serve you as a current member. You can contact NAFCU Vice President of Membership and Sales Catherine Safady at 703-842-2209 or csafady@nafcu.org with questions, ideas or concerns.
  8. What does this mean for me (as a current, federally chartered member)?
    We want to stress that nothing has changed for our current members, and for you as well as NAFCU's dedicated and passionate staff, it will be business as usual. This historic step strengthens what we provide for you – the best in federal advocacy, education and compliance assistance. We will continue to be engaged on the legislative, regulatory and compliance issues at the federal level that affect you most.

    We have a strengthened focus on providing all credit unions with the best in representation at the federal level, and we remain committed to providing exceptional service to our members.
  9. What does this mean for me (as a current, state-chartered member)?
    We want to stress that nothing has changed for our current members, and for NAFCU's dedicated and passionate staff, it will be business as usual. As one of the numerous federally insured, state-chartered members we already serve, your support has always been vital to us, and going forward, your help in sharing the story of NAFCU to your peers will be invaluable. 

    Importantly, your membership status will remain unchanged. Your grandfathered membership status provides you with the ability to vote in NAFCU elections but not serve on the NAFCU Board. The new, federally insured, state-chartered associate members will have full membership privileges, but will not have full voting rights or the ability to run for the NAFCU Board. Lastly, we remain committed to providing exceptional service to our members. We are prepared to deliver the same high-level service our members are accustomed to.
  10. What does this mean for me (as a potential [federally chartered] member)?
    For nearly half a century, we've been an industry leader in bringing our members the best in federal advocacy, education and compliance assistance. Nothing has changed in this regard; we're still the best for federal credit unions. This change supports our goal to help all credit unions with federal issues by becoming a stronger, more impactful organization. We look forward to your participation.
  11. What does this mean for me (as a potential [state-chartered] member)?
    While this announcement is a historic milestone for NAFCU, being a strong leader and advocate for federally insured, state-chartered credit unions at the federal level is already a big part of what we do. We currently represent numerous (grandfathered-in) federally insured, state-chartered credit unions that benefit from our mission to deliver the best in advocacy, education and compliance assistance. You need representation at the federal level, and NAFCU is excited to step up and fill this role. Our team of experts is ready to work on your behalf.
  12. What does this mean for me (as a potential [state-chartered] member who would be grandfathered in)?
    You were once a NAFCU member and we look forward to the opportunity to once again represent you with the best in advocacy, education and compliance assistance at the federal level. NAFCU would represent you in front of the NCUA, CFPB, Congress and other key policymakers in Washington. You need strong representation at the federal level, and NAFCU is excited to step up and fill this role. Our team of experts is ready to work on your behalf.

    Currently, we represent numerous federally insured, state-chartered credit unions that benefit from our services. In other words, while this announcement is a historic milestone for NAFCU, being a strong leader and advocate for state-chartered credit unions at the federal level is already a big part of what we do. And unlike other federally insured, state-chartered credit unions, your grandfathered status would make you a full voting member of NAFCU.