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WASHINGTON – In response to a proposal sent out by the Federal Housing Finance Board, CUNA and NAFCU wrote in support of the board providing more information on directors’ experience and skills in the Federal Home Loan Bank Board election process and including credit union representatives on the boards.

“NAFCU supports the FHFB’s proposal to authorize the Banks to notify members during the nomination and election process of the expertise and skills which make for strong, knowledgeable and informed directors,” President and CEO Fred Becker said. “However, NAFCU encourages the FHFB to standardize the information that the Banks provide to their members about the expertise and skills that are useful for a board member to possess. Standardization would help to ensure that individual Banks do not focus exclusively on a narrow range of technical expertise and skills at the expense of other valuable characteristics.”

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