The NAFCU Journal May-June 2020 - 4

FROM THE CHAIR

Seeking Growth? Look to NAFCU
By Jeanne Kucey, NAFCU Board Chair

F

or the past two years, I have had
the privilege of leading NAFCU's
board of directors. Our board is
unique from those of other associations in that it consists of credit union
CEOs. We play an instrumental role in
driving the direction of NAFCU's efforts
to achieve its mission of strengthening
credit unions by providing the best federal advocacy, education and compliance
assistance in the industry, as we have
firsthand insights into what is needed to
successfully run a credit union.

As a direct-membership association,
NAFCU also takes guidance from its
members. As a result of this feedback,
credit union growth is NAFCU's No. 1
priority. NAFCU's staff is personally
invested in helping to navigate the
challenging operating environment
while keeping you informed of what's
on the horizon.

Regulatory Relief

Although credit unions were not the
cause of the financial crisis, many of the
regulations meant to target bad actors
were put on us, too. We've moved toward
a deregulatory environment, but more
can be done. We're fighting for relief on
several issues, including:
CFPB authority, especially from rules
related to payday lending, small business lending, data collection, Home
Mortgage Disclosure Act, and more;
■	 the current expected credit
loss standard;
■	 loan maturity limits; and
■	 exam modernization.
■	

By working diligently with regulators
and Congress, NAFCU aims to create a
4

reasonable regulatory environment so
credit unions can focus their resources
on serving members. As we work to
overcome the negative impacts of the
coronavirus pandemic, this is essential.

Housing Finance Reform

A big regulatory change in its early stages
is housing finance reform. NAFCU
expects the Federal Housing Finance
Agency to continue efforts to prepare the
government-sponsored enterprises for
the end of conservatorship.
Credit unions that participate in the mortgage market want to offer affordable loans
and great terms. To do so, having access
to the secondary mortgage market and
fair pricing is critical. NAFCU has met at
the White House and worked directly with
Federal Housing Finance Agency Director
Mark Calabria and other regulators to
ensure these components are maintained
in any housing finance solution. And the
association has consistently urged Congress to take action to safeguard protections for small mortgage lenders.

privacy standards to hold all companies
to the same expectations when it comes to
storing and protecting consumers' data.

Diversity and Inclusion

Our industry embodies the values of
diversity and inclusion. We fight for the
right to add underserved areas to our
fields of membership, and we offer more
affordable products and services. Credit
unions will continue to lead the financial
services industry in this regard, because
that is what we do.
As I prepare to pass the chairmanship to
another distinguished colleague, I am
confident that NAFCU will continue leading the credit union industry to greater
growth. So, if your credit union wants
to continue providing the best financial
products to your members and be a pillar
in your community - especially in these
difficult times - look to NAFCU.
Jeanne Kucey is the president and CEO of
JetStream Federal Credit Union.

Technology and Data

Consumers want to bank with ease; many
hardly ever come into the physical branch
anymore. NAFCU has several resources
- such as its NAFCU Services Preferred
Partners and its annual Vendor Directory
- to help your institution find the right
vendor to partner with in the area of payments technology. And while fintech has
its benefits, tech companies entering the
financial services space aren't regulated
the same way credit unions are. NAFCU
has a white paper that charts the path
toward regulatory coordination to ensure
a level playing field. Finally, NAFCU is
leading calls for national data security and
THE NAFCU JOURNAL  MAY-JUNE 2020



The NAFCU Journal May-June 2020

Table of Contents for the Digital Edition of The NAFCU Journal May-June 2020

The NAFCU Journal May-June 2020 - Cover1
The NAFCU Journal May-June 2020 - Cover2
The NAFCU Journal May-June 2020 - 1
The NAFCU Journal May-June 2020 - 2
The NAFCU Journal May-June 2020 - 3
The NAFCU Journal May-June 2020 - 4
The NAFCU Journal May-June 2020 - 5
The NAFCU Journal May-June 2020 - 6
The NAFCU Journal May-June 2020 - 7
The NAFCU Journal May-June 2020 - 8
The NAFCU Journal May-June 2020 - 9
The NAFCU Journal May-June 2020 - 10
The NAFCU Journal May-June 2020 - 11
The NAFCU Journal May-June 2020 - 12
The NAFCU Journal May-June 2020 - 13
The NAFCU Journal May-June 2020 - 14
The NAFCU Journal May-June 2020 - 15
The NAFCU Journal May-June 2020 - 16
The NAFCU Journal May-June 2020 - 17
The NAFCU Journal May-June 2020 - 18
The NAFCU Journal May-June 2020 - 19
The NAFCU Journal May-June 2020 - 20
The NAFCU Journal May-June 2020 - 21
The NAFCU Journal May-June 2020 - 22
The NAFCU Journal May-June 2020 - 23
The NAFCU Journal May-June 2020 - 24
The NAFCU Journal May-June 2020 - 25
The NAFCU Journal May-June 2020 - 26
The NAFCU Journal May-June 2020 - 27
The NAFCU Journal May-June 2020 - 28
The NAFCU Journal May-June 2020 - 29
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The NAFCU Journal May-June 2020 - 31
The NAFCU Journal May-June 2020 - 32
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The NAFCU Journal May-June 2020 - 34
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The NAFCU Journal May-June 2020 - 41
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The NAFCU Journal May-June 2020 - 44
The NAFCU Journal May-June 2020 - Cover3
The NAFCU Journal May-June 2020 - Cover4
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