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.

BREAKING DOWN '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 Credit Union (FCU)

    A federal credit union is a credit union regulated and supervised ...
  2. National Credit Union Administration ...

    The NCUA is a federal agency created to monitor federal credit ...
  3. Credit Union National Association ...

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

    A labor union is an organization that represents the collective ...
  5. Loan Participation Note (LPN)

    A loan participation note is a fixed-income security that permits ...
  6. Credit Report

    A credit report is a detailed report of an individual's credit ...
Related Articles
  1. Insights

    Unions: Do They Help or Hurt Workers?

    Learn the pros and cons of these organizations and how they fit into today's economy.
  2. Small Business

    Are Labor Unions Effective?

    This article examines some of the pros and cons associated with organized labor.
  3. Personal Finance

    Build Your Credit Score

    Here are four good ways to build your credit score when you're starting from scratch. Do it right and you'll end up with excellent credit.
  4. Personal Finance

    Take the Right Steps to Build Excellent Credit

    There are several things you can do to protect and improve your credit score.
  5. Small Business

    How To Increase Your Appeal To Prospective Lenders

    Making a business eligible for loans/credit cards at the best possible rates requires crafting an excellent credit profile through the smart use of credit.
  6. Personal Finance

    Analyzing a Career in Credit Analysis

    If you're a number-cruncher and responsibility doesn't scare you, this could be the job for you.
  7. Personal Finance

    Which Is More Important: Credit Report or Credit Score?

    Here's the difference between a credit report and credit score, and which is more important.
  8. Personal Finance

    Lines of Credit: The Basics

    Learn how lines of credit, hybrids of credit cards, and normal loans, can help or hurt your finances. Determine what is right for you.
  9. Managing Wealth

    5 Common Misconceptions About Your Credit Report

    Your credit report is one of the most important factors in determining your ability to get loans and new credit and has a major influence on your rates.
  10. Personal Finance

    How to Read Your Consumer Credit Report

    Learning how to read your consumer credit report is vital, as it includes important information about your credit history.
RELATED FAQS
  1. What's the difference between a credit rating agency and a credit bureau?

    Learn how to differentiate between credit rating agencies and credit bureaus, two industries that distribute valuable risk ... Read Answer >>
Trading Center