NAFCU remained committed to ensuring a strong credit union industry in 2022 and its extreme member service – bolstered by best-in-industry advocacy, compliance assistance and education – helped members maneuver a challenging economic environment and grow. As responsible stewards of membership dues, NAFCU continued to invest in areas to support member success. NAFCU again reported a strong financial performance in 2022 – reflecting the strength and resiliency of the credit union industry as the country continued to recover from a global pandemic. This performance is highlighted by NAFCU’s drive to be the best industry representative in Washington, D.C., innovate new services and technology and offer credit unions the best resources in a cost-effective, efficient manner. In 2022, NAFCU’s equity increased $1,193,507 and its assets grew $2,299,796. This growth ensures that NAFCU remains at the forefront of advocacy, education and compliance assistance for the credit union industry. NAFCU Services Corporation also bolstered partnerships and products in order to provide the best available solutions for credit unions and keep them competitive. NAFCU will continue to prioritize credit union members’ needs and concerns in 2023 to support industry growth, innovation, regulatory relief and a level playing field. We exist to serve you. Thank you for your ongoing support, guidance and belief in what we do. We look forward to working with you in the coming year to secure an even brighter future for our industry. NAFCU TREASURER’S REPORT 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019 2021 MAR-23 5% 0% 10% 15% 20% 25% 30% 35% 40% 45% 50% 47% NAFCU % of Total Assets: FISCUs 60% 62% 64% 66% 68% 70% 72% 74% 76% 78% 80% 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019 2021 MAR-23 78% NAFCU % of Total Assets: FCUs 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019 2021 MAR-23 60% 65% 55% 50% 45% 40% 35% 30% 63% NAFCU % of Total Assets: FICUs Karen C. Harbin, CPA | NAFCU Board Treasurer 29 THE NAFCU JOURNAL July–August 2023
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