NAFCU’s Dirty Dozen
Credit Union association outlines 12 goals for 2014
The National Association of Federal Credit Unions (NAFCU) published a list of what it calls the “Dirty Dozen” — a series of goals that the organization has for 2014.
One of its standout initiatives is a push to securitize loans and increase credit unions’ ability to invest in mortgage servicing rights.
The Dirty Dozen list includes the organization's ongoing push for credit unions to wade into riskier investments, with NAFCU’s No. 1 goal being an expansion of credit union investment authority, which includes "the ability to engage in limited derivatives activities."
NAFCU’s other goals include modernizing the association’s fixed-assets rule, improving the process for credit unions trying to seek changes in their field of membership, increasing the number of transfers allowed to be made per month from savings accounts, and seeking added flexibility for credit unions that offer member business loans.
The association also wants to update the requirement to disclose account numbers to protect the privacy of members, enhance advertising requirements for loan products and share accounts and modernize NCUA advertising requirements to meet the needs of mobile membership.