National Association Of Federal Credit Unions - NAFCU

AAA

DEFINITION of 'National Association Of Federal Credit Unions - NAFCU'

An industry trade group founded in 1967 that represents federal credit unions. Its membership is made up of both large and small credit unions, including about 80% of the 100 largest credit unions. Its activities include representing, informing, educating and assisting its members regarding industry issues. Headquartered in Arlington, Virginia, one of its main purposes is to influence the laws and regulations affecting federal credit unions.

INVESTOPEDIA EXPLAINS 'National Association Of Federal Credit Unions - NAFCU'

Federal credit unions are similar to banks, but are owned by their members and are organized under federal rather than state law. They are regulated by the National Credit Union Administration, and members' deposits are protected by the National Credit Union Share Insurance Fund, which is similar to FDIC insurance.

RELATED TERMS
  1. Federal Reserve Bank

    The central bank of the United States and the most powerful financial ...
  2. Federal Credit Union - FCU

    A credit union chartered and supervised by the National Credit ...
  3. Credit Union National Association ...

    This is the premier national trade association representing credit ...
  4. Credit Union

    Member-owned financial co-operative. These institutions are created ...
  5. Federal Deposit Insurance Corporation ...

    The U.S. corporation insuring deposits in the U.S. against bank ...
  6. Interest Rate

    The amount charged, expressed as a percentage of principal, by ...
Related Articles
  1. Tired Of Banks? Try A Credit Union
    Retirement

    Tired Of Banks? Try A Credit Union

  2. 9 Tips For Safeguarding Your Accounts
    Options & Futures

    9 Tips For Safeguarding Your Accounts

  3. Choose To Beat The Bank
    Options & Futures

    Choose To Beat The Bank

  4. How To Break Up With Your Bank
    Options & Futures

    How To Break Up With Your Bank

comments powered by Disqus
Hot Definitions
  1. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  2. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  3. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  4. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  5. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  6. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
Trading Center