9 THE NAFCU JOURNAL NOVEMBER–DECEMBER 2022 Bankers, who are closing 200 branches a month in rural and underserved communities, are fighting to keep credit unions from expanding into these areas and providing Main Street America with safe, affordable financial products. NAFCU will not stand for such a double standard, and we will continue to educate lawmakers with the facts. But we aren’t just fighting for you in Congress. We are constantly working with federal regulators to make life better for credit unions. With the NCUA, we worked to achieve real wins like expanding field of membership rules so that credit unions can serve more Americans who lack basic financial services. We also worked with the agency to provide key information in a number of areas where our members need additional guidance. Pointedly, credit unions must continue to innovate to meet the demands of a changing environment, and NAFCU worked with the NCUA to secure guidance allowing credit unions to partner with third-party broker-dealers to offer digital asset services. We also worked with the agency to secure guidance allowing credit unions to use distributed ledger technologies as they create new systems to better manage their members’ assets. Finally, we recently secured guidance from the NCUA to update the interest rate risk supervisory framework so that credit unions are not unfairly punished for high levels of deposits coming out of the pandemic. There almost aren’t enough pages in The NAFCU Journal for me to list all the successes that our advocacy team has achieved with your help over the past year. We are proud every day to wake up and fight for credit unions. By serving you, we help over 133 million Americans who trust their financial well-being to credit unions. NAFCU’s Grassroots Action Center allows credit unions to easily find their polling location, search for local candidates, and more. Take advantage of this resource ahead of the upcoming election by visiting www.nafcu.org/grassroots. “We aren’t just fighting for you in Congress. We are constantly working with federal regulators to make life better for credit unions.”
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