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NAFCU, CUNA, CUNA Mutual issue joint statement on Appeals Court FOM decision

WASHINGTON, DC (August 20, 2019) — The National Association of Federally-Insured Credit Unions (NAFCU), Credit Union National Association (CUNA) and CUNA Mutual Group today issued a joint statement in response to the U.S. Court of Appeals for the D.C. Circuit’s decision regarding the NCUA’s 2016 field of membership (FOM) rule.

“Today’s decision by the D.C. Court of Appeals upholding almost all portions of the NCUA’s rule is a big win for credit unions. This will have a positive impact for the industry’s 117 mill­­­ion members and American consumers who now have better access to member-owned not-for-profit credit unions.  For the one aspect of the rule that the court asked for more explanation, we are confident the agency will provide additional support.

“CUNA, NAFCU and CUNA Mutual Group stand united in our position that credit unions provide the best in financial services to American consumers. Against meritless banker attacks, we will continue our efforts to ensure field of membership regulations are updated to reflect the modern financial services system so that credit unions can serve their members, including the underserved.”


About NAFCU

The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.

About CUNA

Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 115 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com or contact Stephen Fitzmaurice, sfitzmaurice@cuna.coop

About CUNA Mutual Group

CUNA Mutual group is a financially strong insurance and financial services company enabling people to make financial decisions that work for them. The company was built on the principle of “people helping people” and the belief that a brighter financial future should be accessible to everyone. For more information, visit www.cunamutual.com or contact Philip Tschudy, Tschudy@cunamutual.com. CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Corporate headquarters are located in Madison, Wis.

Contacts

Molly Safreed, msafreed@nafcu.org (NAFCU)

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