National Association Of Federal Credit Unions Inc

Organization Overview

National Association Of Federal Credit Unions Inc, operating under the name Nat'l Assoc Of Fed-Ins Cus, is located in Arlington, VA. The organization was established in 1972. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Nat'l Assoc Of Fed-Ins Cus employed 73 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nat'l Assoc Of Fed-Ins Cus is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

Since 2016, Nat'l Assoc Of Fed-Ins Cus has awarded 82 individual grants totaling $1,326,470. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2024

Describe the Organization's Mission:

Part 3 - Line 1

TO STRENGTHEN CREDIT UNIONS BY PROVIDING THE BEST FEDERAL ADVOCACY, EDUCATION AND COMPLIANCE ASSISTANCE IN THE INDUSTRY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

COMMUNICATIONS/LEGISLATIVE/REGULATORY/COMPLIANCE:KEEPS MEMBERS UP-TO-DATE ON ALL OF THE RULES AND LAWS GOVERNING CREDIT UNIONS AS WELL AS PROVIDING COMPLIANCE ASSISTANCE.


2022 ACCOMPLISHMENTSNAFCU CONTINUES TO FIGHT TO SECURE REGULATORY RELIEF AND FLEXIBILITY FOR CREDIT UNIONS AND IN 2022 REMAINED COMMITTED TO CREATING A LEGISLATIVE AND REGULATORY ENVIRONMENT THAT ALLOWS CREDIT UNIONS - AND THEIR 135 MILLION MEMBERS - TO THRIVE. OUR BOLD ADVOCACY BLUEPRINT AIMED TO CREATE REGULATORY RELIEF, FOSTER CREDIT UNION INNOVATION, GROW MEMBERSHIP, AND LEVEL THE PLAYING FIELD BETWEEN CREDIT UNIONS, LARGE BANKS, AND UNDERREGULATED MARKET PARTICIPANTS. THIS STRATEGY SECURED SEVERAL KEY WINS FOR THE INDUSTRY AND AMERICAN CONSUMERS.NAFCU FOUGHT BACK AGAINST BANKERS' ATTACKS BY CONTINUING EFFORTS UNDER THE AWARD-WINNING BIG BANK BULLIES CAMPAIGN TO HIGHLIGHT THE DIFFERENCE BETWEEN COMMUNITY-FOCUSED CREDIT UNIONS AND PROFIT-SEEKING BANKS. WE ALSO ADVOCATED AGAINST LEGISLATIVE EFFORTS TO EXTEND DEBIT INTERCHANGE ROUTING REQUIREMENTS TO CREDIT CARDS AND GRANT THE NCUA WITH EXPANDED THIRD-PARTY VENDOR AUTHORITY.IN ADDITION, NAFCU SECURED THE INTRODUCTION OF, AND BIPARTISAN SUPPORT FOR, MULTIPLE PIECES OF LEGISLATION TO PROVIDE CREDIT UNIONS WITH MORE FLEXIBILITY, INCLUDING THE FULLY ENACTED CREDIT UNION GOVERNANCE MODERNIZATION ACT (CUGMA).ON THE REGULATORY FRONT, NAFCU STRONGLY OPPOSED THE CONSUMER FINANCIAL PROTECTION BUREAU'S (CFPB) EFFORTS TO EXPAND THE SCOPE OF REGULATION E AND HOLD FINANCIAL INSTITUTIONS LIABLE FOR FRAUD ON PEER-TO-PEER PLATFORMS. WE ALSO ADVOCATED FOR THE CFPB TO CONSIDER ADDITIONAL WAYS TO SUPERVISE NONBANK FINTECH COMPANIES, LIMITING RISKS TO CONSUMERS AND CREATING A FAIRER REGULATORY ENVIRONMENT.NAFCU LED EFFORTS TO ENSURE THE NATIONAL CREDIT UNION ADMINISTRATION (NCUA) ALLOWED CREDIT UNIONS TO USE DISTRIBUTED LEDGER TECHNOLOGIES AND SUCCESSFULLY SECURED THE AGENCY'S RELEASE OF ADDITIONAL GUIDANCE ON HOW CREDIT UNIONS CAN BETTER ADOPT DIGITAL ASSETS AND EMERGING FINANCIAL TECHNOLOGIES.AT NAFCU, THE ASSOCIATION'S REGULATORY COMPLIANCE TEAM ANSWERED MORE THAN 6,000 QUESTIONS FROM MEMBERS VIA THE DIRECT COMPLIANCE ASSISTANCE PROGRAM - ANSWERING ALL QUESTIONS WITHIN ONE BUSINESS DAY TO CONTINUE OUR PRIORITIZATION OF EXTREME MEMBER SERVICE. IN ADDITION TO OUR COMPLIANCE HOTLINE, THE TEAM AUTHORED NUMEROUS BLOGS, ARTICLES, AND OTHER TOOLS TO PROVIDE VALUABLE COMPLIANCE ANALYSIS AND RESOURCES TO NAFCU MEMBERS.TO PROVIDE OUR MEMBERS WITH THE INDUSTRY'S BEST EDUCATIONAL OPPORTUNITIES, OUR EDUCATION AND EVENTS TEAMS CURATED 12 CONFERENCES AND EVENTS, DELIVERING FORWARD-THINKING CONTENT DESIGNED TO EQUIP CREDIT UNIONS WITH THE TOOLS NEEDED TO GROW AND SERVE MEMBERS STRAIGHT TO ATTENDEES. ADDITIONALLY, OUR ONLINE TRAINING CENTER CONTINUED TO BE HIGHLY UTILIZED, OFFERING WEEKLY LIVE AND ON-DEMAND WEBINARS ON THE INDUSTRY'S MOST PROMINENT ISSUES; IT REMAINS A VALUABLE OPPORTUNITY FOR CREDIT UNION STAFF TO STAY UP TO DATE ON THE LATEST TRENDS. THROUGHOUT THE YEAR, NEARLY 5,000 CREDIT UNION INDUSTRY PROFESSIONALS STREAMED MORE THAN 16,000 HOURS ALMOST 2 YEARS' WORTH OF CONTENT. NAFCU PROVIDES THE INDUSTRY'S LEADING ACE ADVOCACY, COMPLIANCE, AND EDUCATION AND WE ARE DEDICATED TO DELIVERING ON OUR PROMISES FOR THE BENEFIT OF OUR MEMBERS AND THE 135 MILLION AMERICANS THEY SERVE.


N/A - FINAL YEAR WITH NO PROGRAM ACTIVITY


MEMBERSHIP EDUCATIONAL CONFERENCES:NAFCU HOLDS AN ANNUAL CONFERENCE THAT ALLOWS MEMBERS TO LEARN ABOUT THE LATEST NEWS, ADVANCES IN TECHNOLOGY, AND INNOVATIVE PRODUCTS FOR CREDIT UNIONS. IN ADDITION, NAFCU HOLDS NUMEROUS OTHER EDUCATIONAL CONFERENCES DESIGNED TO EDUCATE MEMBERS ON MORE SPECIALIZED TOPICS.


PRODUCTS & SERVICES:INCLUDES THE NAFCU JOURNAL, A BI-MONTHLY PERIODICAL ABOUT TRENDS IN CREDIT UNIONS AND OTHER PUBLICATION SUCH AS THE WEEKLY UPDATE NEWSLETTER AND REGULATORY ALERTS PUBLISHED FOR MEMBERS. ALSO INCLUDED ARE VARIOUS TRAINING RESOURCES AVAILABLE TO BOTH MEMBERS AND THE GENERAL PUBLIC.


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Board, Officers & Key Employees

Name (title)Compensation
Gary A Grinnell
Chair
$0
Brian T Schools
Vice Chair
$0
Karen C Harbin
Treasurer
$0
Lonnie Nicholson
Secretary
$0
Melanie Kennedy
Director
$0
Frank Mancini
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Smg Food & Beverage
Conference Lodging, Audio And Visual, Fo
$404,848
Holland & Night
Legal Services
$297,958
The Westin
Conference, Lodging, Banquets, Audio And
$210,209
Charleston Place Acquisition Llc
Conference, Lodging, Banquets, Audio And
$155,012
Barker Designs
Annual Conference Cruise And Spouse Tour
$132,588
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$884,811
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$884,811
Total Program Service Revenue$22,970,758
Investment income $664,457
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $216,448
Net Gain/Loss on Asset Sales $490
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $0

Grants Awarded

Over the last fiscal year, National Association Of Federal Credit Unions Inc has awarded $185,880 in support to 11 organizations.

Grant RecipientAmount

CHILDREN'S HOSPITAL FOUNDATION

PURPOSE: MATCH OF PAC DONATIONS - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC

$62,263

OREGON HEALTH & SCIENCE UNIVERSITY FOUNDATION

PURPOSE: MATCH OF PAC DONATIONS - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC

$21,843

PEACE HEALTH SACRED HEART MEDICAL CENTER FOUNDATION

PURPOSE: MATCH OF PAC DONATIONS - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC

$21,843

CHILDREN'S MIRACLE NETWORK

PURPOSE: MATCH OF PAC DONATIONS - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC

$13,586

THE UPSTATE FOUNDATION INC

PURPOSE: MATCH OF PAC DONATIONS - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC

$13,586

CREDIT UNION MIRACLE DAY COMMITTEE

PURPOSE: UNRESTRICTED CHARITABLE GIFT

$10,000
View Grant Profile

Peer Organizations

Organization NameAssets
Tennessee Electric Co-Op Assn
Nashville, TN
$8,442,176
National Motor Freight Traffic Association Inc
Alexandria, VA
$14,918,863
Telecommunications Industry Association
Arlington, VA
$8,931,469
Tennessee Valley Public Power Assocation Inc
Chattanooga, TN
$8,595,984
National Guard Association Of The United States
Washington, DC
$3,746,226
Government Employees Benefit Association Inc
Hanover, MD
$6,709,177
The National Association Of State Energy Officials
Arlington, VA
$6,764,165
Apartment & Office Bldg Assn
Washington, DC
$4,641,338
Utilities Telecom Council
Arlington, VA
$5,603,327
American Bus Association Inc
Washington, DC
$5,358,110
Ctam Cable Marketing Association Inc
Oxon Hill, MD
$4,214,570
North Carolina Bankers Association
Raleigh, NC
$2,894,140
Cyber Threat Alliance Inc
Arlington, VA
$3,150,130
National Taxpayers Union
Washington, DC
$4,590,708
Association For Public Policy Analysis And Management
Washington, DC
$2,856,675
Association Of Metropolitan Water Agencies
Washington, DC
$2,463,260
Maryland Bankers Association Inc
Annapolis, MD
$2,159,601
Policy Academies
Washington, DC
$1,082,567
The Monitoring Association
Mclean, VA
$2,517,074
North Carolina Retired Governmental Employees Association Inc
Raleigh, NC
$2,155,437
West Virginia Rural Water Association Inc
Scott Depot, WV
$2,095,068
X12 Incorporated
Arlington, VA
$1,554,859
National Association Of Power Engineers Educational Fndtn Inc
Alexandria, VA
$1,499,116
Society For Technical Communication
Fairfax, VA
$1,184,409
Virginia Rural Water Association
Buena Vista, VA
$1,529,770

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