Reflecting Its Shifting Base, Credit Union Group Changes Name
The National Association of Federal Credit Unions has renamed itself to highlight an expanded member base, which now includes state credit unions that are federally insured.
NAFCU isn’t just about federal credit unions anymore.
As of January 1, in fact, the organization formerly known as the National Association of Federal Credit Unions will become the National Association of Federally-Insured Credit Unions, with its name reflecting broader changes in its makeup in recent months.
In August, the trade group voted to change its articles of incorporation to allow state-chartered credit unions to become full members, as long as they were federally insured. (NAFCU members approved the decision in September.) The strategy greatly expanded the group’s potential member base. Previously, state-chartered credit unions could join the organization, but at a lower level without voting rights.
The association emphasizes that it is not shifting its mission—just its membership model.
“While our name change reflects our mission to serve all federally insured credit unions, our focus remains the same,” NAFCU Chair Richard L. Harris said in a news release. “We remain committed to providing the best in advocacy, education, and compliance assistance at the federal level.”
Despite the name change, NAFCU will not change its logo or acronym, allowing the group to preserve its current brand awareness.
(via NAFCU's Facebook page)