WASHINGTON — NAFCU's board is meeting with senior officials of the Federal Reserve Thursday to discuss key credit union issues, as well as to present findings from trade's annual report on the movement.
Federal Reserve Board Gov. Jerome Powell is hosting the meeting.
"Our 2014 NAFCU Report on Credit Unions shows despite the legislative and regulatory challenges credit unions must deal with, they remain prudent lenders in serving their 98 million member-owners and play a significant role in the nation's economy," said NAFCU CEO Dan Berger in a statement. "This is the 22nd year the association is meeting with the Federal Reserve, and we look forward to continuing our discussion on matters vital to credit unions and the financial services industry."
NAFCU said its 2014 Report focuses on five major subjects: credit union trends; credit unions' service to their members and use of Federal Reserve services; legislative issues facing credit unions; regulatory issues facing credit unions, and interest rate risk.
Among NAFCU's top priorities: protecting the CU tax exemption, regulatory relief and data security.
NAFCU board members attending the Fed meeting include: Ed Templeton, NAFCU's chairman, as well as president/CEO of the $680 million SRP Federal Credit Union in North Augusta, S.C.; Rich Harris, NAFCU vice chair and president/CEO of the $1.3 billion Caltech Employees Federal Credit Union in La Canada, Calif.; and Jeanne Kucey, NAFCU treasurer and president and CEO of the $164 million JetStream Federal Credit Union in Miami Lakes, Fla.
Also, aside from President Berger, other NAFCU staff-members attending the meeting include Anthony Demangone, executive vice president and COO, Carrie Hunt, senior vice president of government affairs and general counsel, and Curt Long, chief economist and director of research.
