ARLINGTON, Va. — The NAFCU Board met with Federal Reserve Governor Kevin Warsh and staffers on Dec. 4th, its 15th such annual meeting held to discuss credit union issues and present the findings of its 2007 Report on Credit Unions.
"We had a very good conversation with Governor Warsh and other Federal Reserve staffers," said NAFCU Chief Economist Dr. Tun Wai. "We gave them an overview of credit unions' situation in the financial marketplace. These talks are for the most part confidential, in order to allow a frank conversation, but I can tell you that we told them that credit unions were doing just fine. They are very interested in hearing about 'where the rubber meets the road' in terms of lending, particularly with regard to problems in the mortgage area."
The significance of such face-to-face meetings to promote CU initiatives is perceived as a lobbying plus for NAFCU, which represents some 800 credit unions.
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