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.
Form
990
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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Gary A Grinnell Chair | OfficerTrustee | 10 | $0 |
Brian T Schools Vice Chair | OfficerTrustee | 10 | $0 |
Karen C Harbin Treasurer | OfficerTrustee | 5 | $0 |
Lonnie Nicholson Secretary | OfficerTrustee | 5 | $0 |
Melanie Kennedy Director | Trustee | 1 | $0 |
Frank Mancini Director | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Smg Food & Beverage Conference Lodging, Audio And Visual, Fo | 12/30/23 | $404,848 |
Holland & Night Legal Services | 12/30/23 | $297,958 |
The Westin Conference, Lodging, Banquets, Audio And | 12/30/23 | $210,209 |
Charleston Place Acquisition Llc Conference, Lodging, Banquets, Audio And | 12/30/23 | $155,012 |
Barker Designs Annual Conference Cruise And Spouse Tour | 12/30/23 | $132,588 |
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 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $206,273 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $2,589,699 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $9,143,412 |
Pension plan accruals and contributions | $702,121 |
Other employee benefits | $1,288,791 |
Payroll taxes | $832,415 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $52,966 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $363,466 |
Advertising and promotion | $212,616 |
Office expenses | $1,006,961 |
Information technology | $975,619 |
Royalties | $0 |
Occupancy | $613,896 |
Travel | $1,103,840 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $3,550,668 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $239,131 |
Insurance | $134,746 |
All other expenses | $0 |
Total functional expenses | $0 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $0 |
Accounts payable and accrued expenses | $5,835,366 |
Grants payable | $0 |
Deferred revenue | $10,076,158 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $0 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $0 |
Over the last fiscal year, National Association Of Federal Credit Unions Inc has awarded $185,880 in support to 11 organizations.
Grant Recipient | Amount |
---|---|
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 |