NAFCU Journal July August 2021

2 Over the past several years, NAFCU has invested in the people, technology, and programs to take our association to the next level. Focusing on extreme member service in three core areas – advocacy, compliance, and education – we have seen record growth in membership and strong financials. We entered 2020 unaware of the unprecedented challenges ahead of us. As challenges arose for our members, we were happy to do everything we could to serve you and your needs. NAFCU’s priorities were to obtain even more regulatory relief for credit unions and equip your institution with the tools and knowledge needed to better serve your members. The coronavirus pandemic significantly changed our operating environment, but it didn’t change our goals. We were set up for success thanks to the guidance of our Board of Directors and the way we operate our association – direct feedback from our members. Maintaining a healthy budget throughout the years gave us confidence in our ability to weather the economic storm. Our technological investments allowed us to move to a remote setting – safely and securely – without sacrificing our world-class member service. The bold advocacy agenda we’ve developed and strong relationships we’ve established with decisionmakers in Washington allowed us to get the relief and flexibility you needed to effectively serve your members and communities who were facing financial hardships. Throughout it all, we were acutely aware of the challenges you were facing from financial and operational standpoints. That’s why we prioritized developing new resources to help you stay on top of quickly changing laws and regulations. That’s why we pivoted our educational offerings to virtual events – many of them at no additional cost – to ensure you and your team had the knowledge and skills to adapt to changing trends. At the end of 2020, NAFCU’s membership represented 56 percent of federally-insured credit union assets, 35 percent of federally-insured state-chartered credit union assets, and 76 percent of federal credit union assets – all increases from the previous year. That growth is a testament to the hard work done by NAFCU employees every day and the value our members see in us. It is humbling to know that during a pandemic, you entrusted us with your voice in Washington. We take pride in representing you, and you can be confident we will continue to fight for what you need to continue to thrive. B. Dan Berger | NAFCU President and CEO Debra Schwartz | NAFCU Board Chair CHAIR AND PRESIDENT’S REPORT