Learn more about Member Benefits
Strong charters at the federal and state level are essential to both federal and state chartered credit unions, because it creates incentives for NCUA and state regulators to allow broader operating authority and impose fewer unnecessary constraints on operations.
Improving both the Federal Credit Union Act and state credit charters is at the top of the agendas of CUNA and the state credit union leagues. We are seeking to reduce the regulatory burdens of credit unions and empower credit unions with increased authorities and greater flexibility to serve their members.
Advocacy Issue
The NCUA finalized their Member Business Lending Rule in February of 2016, but CUNA continues to urge Congress to act on removing the MBL cap.
In October of 2016, the NCUA made changes to the NCUA's chartering and field of membership policies and procedures.
The Credit Union Membership Access Act was passed in 1998. Since then the world has changed significantly and the Federal Credit Union Act and the regulations have not been updated to keep pace with technology and how consumers access financial services.
During the financial crisis everyone learned the importance of capital. However, credit unions have restrictions on sources of capital and can only count retained earnings towards mandated requirements.