FOR IMMEDIATE RELEASE
Contact: Vicki Christner – CUNA Communications; 202-329-9950; email@example.com
Washington, DC (October 27, 2016) – In response to a statement by banking trade associations regarding the National Credit Union Administration’s (NCUA) modernization of credit union field of members, Credit Union National Association (CUNA) President/CEO Jim Nussle released the following:
“The new field of membership rule and the new proposed rule are fully consistent with the Federal Credit Union Act and the Administrative Procedures Act. They are also fully consistent with the intent of the Credit Union Membership Access Act, which I voted for in 1998 when I was in Congress. Our friends in the banking industry appear to be ready to launch another quixotic legal challenge to NCUA’s actions. CUNA is prepared to defend this rule and we will take all necessary measures to do so.”
With its network of affiliated state credit union leagues, Credit Union National Association (CUNA) serves America's credit unions, which are owned by more than 100 million consumer members. Credit unions are not-for-profit cooperatives providing affordable financial services to people from all walks of life. For more information about CUNA, visit www.cuna.org or follow @CUNA on Twitter. For more information about credit unions, visit www.aSmarterChoice.org and follow @asmarterchoice on Twitter.