Welcome to the NFMA! 

NFMA Advanced Seminar on High Yield Bonds

The NFMA will meet at the Vdara Hotel & Spa in Las Vegas on January 22 and 23, 2026 to discuss high yield securities. 

To view the program, click here.

To register, click here.

NFMA Newsletter

The November 2025 Municipal Analysts Bulletin is available here. We encourage you to take a look—you’ll see just how active our committees and Constituent Societies have been in recent months. Volume 35, No. 3.

NFMA Constitution Changes

The NFMA Board has also completed a review of the organization’s Constitution and has circulated a draft of proposed revisions for member comment. The draft includes a small number of substantive governance updates, including:

  • The addition of a seventh Elected At-Large Governor
  • New participation requirements for all Governors, such as serving on a committee and attending at least one in-person Board meeting annually
  • A general modernization and clarification of language throughout the document

These proposed changes do not affect membership rights or the autonomy of Constituent Societies. 

In accordance with Article XVI, a 60-day comment period is now open. During this time, Regular Members may submit comments or objections on the proposed revisions. At the end of this period—and absent sufficient objections requiring further Board action—the revised Constitution will become effective. 

NFMA members were sent a copy of proposed changes in an email dated November 24, 2025.  Please submit any comments to Lisa Good before the close of the 60-day period.

Educational Programs

Traditionally, the NFMA has held an Annual Conference each spring. The conference provides members with the opportunity to hear presentations, to meet with members of other Constituent Societies of the NFMA, and to contribute their efforts to the overall advancement of the NFMA. At the conference, the NFMA presents awards to individuals and organizations for extraordinary contributions to municipal analysis. For a list of past award recipients, click here.

The NFMA has also presented its Introduction to Municipal Bond Credit Analysis each fall, covering a wide range of topics/sectors geared to the needs of new analysts.  Advanced Seminars each fall and winter cover in-depth current topics of importance to the industry for seasoned analysts.

Constituent Societies hold educational events for members. Many of these events are open to members of other societies within the NFMA, and are posted on the NFMA's Event Calendar.

Are you a New NFMA member, or would you like to be?

The NFMA's New Member Advancement Committee (NMA) has programs designed to assist analysts who are newer to the field with career advancement and training. To learn more about NMA, click here.  If you have not yet joined the NFMA, click here for the Membership Application.

 Market Advocacy

The NFMA has been a strong advocate of improved disclosure in the municipal market since its inception. Throughout its history, the NFMA has issued recommended best practices, white papers, comment letters and position statements on relevant topics in the municipal market. To view NFMA papers, go to Resources.

Job & Internship Banks

The NFMA maintains a job bank for its members and an internship bank for students. Employers may submit job and/or internship postings via this link: Job Bank Submissions