ARLINGTON, Va. — NAFCU President/CEO Fred Becker told MACUMA luncheon attendees he felt there was some confusion over NAFCU's positions on disclosures in mutual savings bank conversions and executive compensation in mergers.
"I don't think we're inconsistent or hypocritical at all. I think it's been reported that way," he said.
In the process of converting a credit union to a mutual savings bank, NAFCU has worked to ensure credit union members are fully informed of the differences in structure and member rights.
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Becker pointed to NAFCU's comment letter that asked NCUA to consider executive compensation as a whole rather than piecemeal, such as focusing on it solely in the context of mergers. He pointed out that NCUA did just this when it decided to remove the executive compensation portion of its member access rule at last month's board meeting.
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