WASHINGTON — NAFCU's most recent Flash Report survey confirmedthat 74% of credit union respondents felt the recent datacollection effort by the NCUA, known as the Member ServiceAssesment Pilot Program, was an inappropriate expense and shouldnot be expanded as currently structured.
In 1934, credit unions were organized to serve those of modestmeans. Recently, the modest means definition has come underscrutiny by the Government Accountability Office, Congress, and thebanking industry.
Back in 1999, former Chairman of the Senate Banking CommitteePhil Gramm noted that credit unions were consistent in servingtheir communities. February's NAFCU Flash asked participants ifthey felt credit unions continued to serve their communities; 91%said yes.
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