RICHMOND, Va. (12/17/15)--The Virginia Credit Union League is setting the foundation for a successful 2016 General Assembly session with the #CUstrong engagement program.
The session begins Jan. 13. Virginia-based credit unions are pursuing legislation to enhance the state credit union charter and to allow credit unions to hold public funds deposits.
“For credit unions, this is the most important General Assembly session in recent memory,” said league President Rick Pillow. “We have had important legislative wins in recent years, but our proposed legislation represents a truly significant step toward modernizing the credit union charter.
“While we applaud the National Credit Union Administration for its recent proposal to modernize field-of-membership rules, we recognize they can only go so far without a change in the law,” said Pillow. “We seek to change the law here in Virginia to bring much-needed flexibility to the chartering and field-of-membership options afforded state credit unions; flexibility that recognizes and addresses the realities of today’s marketplace.”
He added, “We also think it’s good policy that public entities have the option of a local, tax-paying credit union for depository and banking services. This is a market dominated by out-of-state megabanks and we believe that choice for public entities could well benefit taxpayers and our communities.”
Credit union staff, volunteer officials and members are encouraged to contact state legislators via the My Credit Union is Me website and to write personal letters in support of the two issues to lawmakers on key committees or who hold leadership positions within the Legislature.
As of Tuesday, the campaign generated 2,588 emails on charter flexibility and 2,222 emails on the public funds deposits issue.
Credit union representatives and league staff have made personal visits to 35 of the 50 key lawmakers to date. Almost all will be reached through a personal visit by the start of the session.
The messages also are setting the stage for credit union advocates' visits during the league's Storm the Hill/Credit Union Day at the General Assembly Jan. 19.