The NAFCU Journal July-August 2020 - 4

FROM THE CHAIR

Building on Growth to Serve You
By Debra Schwartz, NAFCU Board Chair

T

he credit union industry is
facing unprecedented challenges
in the wake of the coronavirus
pandemic. As I begin my tenure
as chair of NAFCU's board of directors,
I want to take this time to give you my
promise that our association is building
upon a strong platform of growth and
successes, and it stands ready to serve
you and your members to ensure an
effective recovery and prosperous future.

Throughout the pandemic, our industry
has again proven that we are the white hats
of the financial services industry. By offering payment relief options, extended lines
of credit and new small-business loans, we
worked from the beginning to support our
members facing financial hardships.
In addition, we went the extra mile
to ensure our employees' and members' safety while still providing needed
member service by expanding online
and mobile offerings and contactless
payment options, maintaining
responsiveness and limiting
in-person interactions.
Not only are we there for American
consumers and small businesses, but
we also stepped up our community
outreach and volunteer efforts. Serving
our communities is the foundation of
the credit union industry, especially
during hardships. My credit union
helped raise more than $350,000 for the
San Diego Food Bank in April. Valley
Strong Credit Union donated more
than $126,000 to its county's COVID-19
relief fund. Tinker Federal Credit
Union delivered 1,000 homemade
masks to The Children's Hospital at
Oklahoma University.
4

Many of us are working around the clock
to get through the crisis and prepare for
life after it. Now more than ever, credit
unions need easily accessible resources
and guidance to help us navigate the
ever-changing regulatory environment.
I am proud to be a part of NAFCU and
now serve as board chair, as the association has listened closely to its members
and, in response, created resources that
can help the industry persevere through
this pandemic, not just survive it.
I have been humbled to serve on NAFCU's
board for the past eight years and see
firsthand the association's commitment to
doing what is best for the industry. Our
board is unique in that it is made up of
credit union leaders - each of us with dozens of years of experience in financial services - who possess a deep understanding
of the challenges facing our industry and
the opportunities that allow us to thrive.
Several regulatory wins have resulted
from this credit union leadership over
the past few years, and the coronavirus
pandemic has demonstrated that more
needs to be done to modernize outdated
regulations and equip our institutions
with the flexibility needed to meet each
member's individual needs.

six-per-month transaction limit between
savings and checking accounts to allow
families to access their hard-earned money
in times of need. The association's advocacy achieved clarification from the Fed
that it has no plans to re-impose this limit.
NAFCU also remains focused on providing
the credit union industry with top-notch
compliance assistance and educational
offerings. Acknowledging the financial
and capacity strains many credit unions
are facing, NAFCU has prioritized digital
resources - including FAQs and regulatory
breakdowns of coronavirus relief efforts -
and online training opportunities, many of
which are available for free.
These and many other reasons are why I
look forward to leading NAFCU's board
of directors for the next few years and
am confident that our commitment to
advocacy, compliance and education will
strengthen the credit union industry and
our ability to serve members. Because
NAFCU is here to serve you.
Debra Schwartz is president and CEO
of Mission Federal Credit Union in San
Diego, Calif.

NAFCU's advocacy has garnered bipartisan support for reforming the member
business lending (MBL) cap, which hindered some institutions' ability to offer
much-needed loans to small businesses
that were forced to cut back operations
amid the pandemic. The association has
been fighting for such relief for years.
In another win that we have long called
for, the Federal Reserve removed the
THE NAFCU JOURNAL  JULY-AUGUST 2020



The NAFCU Journal July-August 2020

Table of Contents for the Digital Edition of The NAFCU Journal July-August 2020

The NAFCU Journal July-August 2020 - Cover1
The NAFCU Journal July-August 2020 - Cover2
The NAFCU Journal July-August 2020 - 1
The NAFCU Journal July-August 2020 - 2
The NAFCU Journal July-August 2020 - 3
The NAFCU Journal July-August 2020 - 4
The NAFCU Journal July-August 2020 - 5
The NAFCU Journal July-August 2020 - 6
The NAFCU Journal July-August 2020 - 7
The NAFCU Journal July-August 2020 - 8
The NAFCU Journal July-August 2020 - 9
The NAFCU Journal July-August 2020 - 10
The NAFCU Journal July-August 2020 - 11
The NAFCU Journal July-August 2020 - 12
The NAFCU Journal July-August 2020 - 13
The NAFCU Journal July-August 2020 - 14
The NAFCU Journal July-August 2020 - 15
The NAFCU Journal July-August 2020 - 16
The NAFCU Journal July-August 2020 - 17
The NAFCU Journal July-August 2020 - 18
The NAFCU Journal July-August 2020 - 19
The NAFCU Journal July-August 2020 - 20
The NAFCU Journal July-August 2020 - 21
The NAFCU Journal July-August 2020 - 22
The NAFCU Journal July-August 2020 - 23
The NAFCU Journal July-August 2020 - 24
The NAFCU Journal July-August 2020 - 25
The NAFCU Journal July-August 2020 - 26
The NAFCU Journal July-August 2020 - 27
The NAFCU Journal July-August 2020 - 28
The NAFCU Journal July-August 2020 - 29
The NAFCU Journal July-August 2020 - 30
The NAFCU Journal July-August 2020 - 31
The NAFCU Journal July-August 2020 - 32
The NAFCU Journal July-August 2020 - 33
The NAFCU Journal July-August 2020 - 34
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The NAFCU Journal July-August 2020 - 41
The NAFCU Journal July-August 2020 - 42
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The NAFCU Journal July-August 2020 - 44
The NAFCU Journal July-August 2020 - 45
The NAFCU Journal July-August 2020 - 46
The NAFCU Journal July-August 2020 - 47
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The NAFCU Journal July-August 2020 - 50
The NAFCU Journal July-August 2020 - 51
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The NAFCU Journal July-August 2020 - 53
The NAFCU Journal July-August 2020 - 54
The NAFCU Journal July-August 2020 - 55
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The NAFCU Journal July-August 2020 - 62
The NAFCU Journal July-August 2020 - 63
The NAFCU Journal July-August 2020 - 64
The NAFCU Journal July-August 2020 - Cover3
The NAFCU Journal July-August 2020 - Cover4
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