National Association Of Federal Credit Unions (NAFCU)

What is ‘National Association Of Federal Credit Unions – NAFCU’

An industry trade group founded in 1967 that represents federal credit unions. Its membership is made up of both large and small credit unions, including about 80% of the 100 largest credit unions. Its activities include representing, informing, educating and assisting its members regarding industry issues. Headquartered in Arlington, Virginia, one of its main purposes is to influence the laws and regulations affecting federal credit unions.

Explaining ‘National Association Of Federal Credit Unions – NAFCU’

Federal credit unions are similar to banks, but are owned by their members and are organized under federal rather than state law. They are regulated by the National Credit Union Administration, and members’ deposits are protected by the National Credit Union Share Insurance Fund, which is similar to FDIC insurance.

Further Reading

  • Multiple common bond credit unions and the allocation of benefits – link.springer.com [PDF]
  • Do credit unions use their tax advantage to benefit members? Evidence from a cost function – www.sciencedirect.com [PDF]
  • Effects of financial structure and instruments on income of low income credit unions – www.tandfonline.com [PDF]
  • Conversions and capital of mutual thrifts: connections, problems, and proposals for credit unions – www.ebhsoc.org [PDF]