From left to right: Michigan Credit Union League President and COO Ken Ross, NASCUS Vice President, Legislative and Regulatory Counsel Nichole Seabron, Michigan Department of Insurance & Financial Services Patrick McPharlin, Rivermark Community Credit Union President/CEO Scott Burgess and CUNA Director of Advocacy Shelton Roulhac.

WASHINGTON – While credit unions have the freedom to choose between a federal and state charter, regulators at the federal and state levels enjoy a competitive yet cooperative relationship, according to speakers in a breakout session, “Joined at the Hip: Federal and State Charter Interdependence,” at CUNA’s GAC Monday.

Nichole Seabron, vice president, legislative and regulatory counsel for NASCUS, said her organization engages often with federal agencies including the NCUA and CFPB to make them aware of the smaller, state-chartered credit unions’ needs. “We engage with the NCUA most often, because we have a joint goal of credit unions surviving and thriving,” she said. “We’ve had some points of contention, but overall the relationship is cooperative.” She later added that since credit unions also compete with banks, it’s most conducive for federally- and state-chartered credit unions to grow as one group.

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Natasha Chilingerian

Natasha Chilingerian has worked in the credit union space for over a decade. She joined CU Times as managing editor in 2015 and was promoted to executive editor in 2019. Before that, she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer and editor for more than 17 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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