Lizeth GeorgeThe League recently engaged with key figures at the National Credit Union Administration (NCUA) to address pressing concerns impacting credit unions in our region. Meetings were held with Martha Ninichuk, Director of Credit Union Resources and Expansion, and Larry Fazio, Executive Director of the NCUA, to discuss significant topics affecting the credit union industry.
Advocacy for CDFI Certification Support
One major focus of these discussions centered on the revised application process for Community Development Financial Institution (CDFI) certification. Many credit unions have expressed concerns about the challenges posed by the updated procedures. The League highlighted specific barriers that credit unions face and proposed actionable solutions to make the process more accessible and efficient. This advocacy is critical as 50 credit unions within our footprint currently hold CDFI certification, accounting for approximately 10.5% of all CDFI-certified credit unions nationwide. Enhancing support for these institutions is essential for their continued ability to serve underserved communities effectively.
Expanding Natural Disaster Relief
Another priority area was the expansion of disaster relief efforts through the NCUA’s Urgent Need Grant Initiative. The League advocated for updates to federal legislation that would allow for broader and more robust disaster relief support. Such changes would enable credit unions to access vital resources during crises, ensuring they can continue to serve their members in times of urgent need. This initiative is particularly significant given the increasing frequency and severity of natural disasters impacting communities across the region.
The League remains committed to representing the interests of credit unions and working collaboratively with the NCUA to address these challenges. We will continue to advocate for solutions that enhance the operational capabilities of credit unions and support their mission to serve members and communities.
