Merriam-Webster’s Dictionary defines grit as “firmness of mind or spirit; unyielding courage in the face of hardship or danger.” In an industry that has faced changing regulatory requirements, a marked shift towards deregulation, and varying risk considerations, credit unions have shown just that.
The past year has seen its fair share of challenges. The Consumer Financial Protection Bureau (CFPB) has shrunk in size without the equivalent decrease in regulatory requirements, the National Credit Union Administration (NCUA) has taken up its own deregulation project, and the Financial Crimes Enforcement Network (FinCEN) has issued several advisories that credit unions have had to consider. Additionally, state agencies have begun their own deregulation projects or issued their own rules to address federal activities. Through all of the changes, credit unions have maintained consistency, providing their members with reliable financial services while navigating shifting regulatory requirements. This is no small feat.
The requirement of the credit union to address and implement changing regulatory expectations is not something that a credit union member may notice or anticipate. Yet, even as those changes affect day-to-day operations, credit union continues to provide their members with intrinsic value. Some of that value is quantifiable. For example, according to the NCUA’s Credit Union Performance data for Q1 2026, federally insured credit unions increased national membership by 2.5 million members, increasing total number of members nationally to 145.8 million. This is undoubtedly a quantifiable demonstration of credit union excellence.
Not only do credit unions have to face challenging regulatory changes, but they also have to do so while those changes affect daily operations. For example, the NCUA’s proposed deregulation changes may affect a credit union’s operations (if finalized), but the credit union is still required to make those changes without sacrificing member services. Credit unions are required to be agile, thoughtful financial institutions, while keeping members services paramount to all other considerations.
The federal trend of deregulation potentially provides credit unions with more business opportunities. This augmentation of a credit union’s provision of services is not without careful risk considerations. As safety and soundness are over-arching regulatory requirements, a credit union must remain as risk-adverse as reasonably possible, even when regulatory shift occur, even when business opportunities present capital gains.
This year is far from over and the regulatory landscape is unlikely to abate. In the face of regulatory uncertainty, credit unions continue to strive towards excellence, continuing to provide their members with reliable financial services.
Reliability isn’t the only thing credit unions can be. In the mission of “people helping people,” credit unions continue to embody the philosophy despite the changes in the regulatory environment. As 2026 inches towards its close, new NCUA projects may emerge, the CFPB may gain back its presence, but through it all, credit unions will continue to be a demonstration to the industry of one of their defining characteristics: grit.
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