HONOLULU -
No longer a so-called rump-group. Or a group of angry examiners bent on revenge. Or even a gang of rabble-rousers.
But as a legitimate player in the halls of Congress, at the headquarters of NCUA and in the board rooms of credit unions across the country.
In recalling the origins of the national trade association, current NAFCU President Fred Becker couldn't help but recall some of the brick brats tossed at the fledgling group at its 1967 inception.
"Now, I have to admit, and however absurd, it's fun to imagine NAFCU's board members looking like Marlon Brando and his motorcycle gang in the classic movie, 'The Wild One,'" Becker told the more than 2,000 volunteers and directors gathered last week at the annual convention celebrating the association's four decades.
Without mentioning any names, it was clear that Becker was referring to CUNA and the state credit union leagues that had represented credit unions for decades and saw no need for another trade association.
The truth is, said Becker, NAFCU was formed by a group of credit union leaders who were concerned about the lack of progress in Washington. "In their opinion, the needs of federal credit unions had been overlooked for far too long," he said.
Key Role In Reform
He ticked off some of the Washington-based credit union reforms since then which NAFCU has played a key role in, including the creation of federal deposit insurance for credit unions; the development of the emergency loan fund, known as the Central Liquidity Facility; an increase in credit union powers to issue their own checking and expand mortgage lending; and the fight for multiple group fields of membership through HR 1151.
He listed several other important initiatives in which NAFCU played important roles, like bankruptcy reform; the fight to retain the accounting for the 1% National CU Share Insurance Fund Deposit; and consumer litigation.
"I can't help but wonder what our detractors might be thinking about us now," Becker said.
Becker, who is known for answering member inquiries at all hours of the night and weekends, attributed the four-decade success of the organization to close communication and collaboration with its members. "Back and forth communication with you has always been our strength," he insisted.
And continued collaboration, through initiatives like CUSOs, or with partners like the military bases, local communities and schools, he insisted, will be the key to moving forward to meet the challenges.
"I don't have to tell you that the marketplace has become a lot more competitive.
"This has impacted credit unions in a number of ways. It's become more difficult for credit unions to boost their bottom lines. Mergers are on the rise. Sadly, we've started to see rifts develop between some credit unions. Some credit unions seem less inclined to share and exchange ideas with one another.
Against The Spirit Of Cooperation
"I have to admit that I'm troubled by this particular trend," said Becker. "It goes against the spirit of cooperation that has long defined the credit union community."
He even noted this year's appearance of the first hostile takeover attempt by a credit union of another credit union.
"When this happened," he said. "some speculated that cooperation among credit unions would soon be a thing of the past.
Cooperation and collaboration, he stated, must remain top priorities. "When it comes to problem-solving, we stand a better chance of coming up with real solutions if we discuss and share ideas with one another."
But Becker insisted he would not be a doomsayer. "I'm not going to be like the speaker at NAFCU's 18th Annual Conference who predicted that credit unions would be taxed by 1986 or 1987.
"Of course," he conceded, "that didn't happen."
"And we will make sure it never does," he said to a rousing applause.
"But in looking at the years ahead, I firmly believe that credit unions will continue to succeed as long, as they stick to the principles of NAFCU's founders.
That means standing up for what we know is right, staying member-focused, and continuing to work with one another."
