The credit union voice is critical, and it needs to be heard, CUNA President/CEO Jim Nussle told a record-breaking number of attendees Monday at CUNA Governmental Affairs Conference (GAC) during his address. Nussle's speech was streamed live over Facebook and has been viewed more than 1,400 times as of Monday evening.
More than 5,200 credit union leaders from all 50 states, Washington, D.C., Puerto Rico and worldwide are in Washington, D.C., this week for the largest credit union event in history.
“We have something that nobody else has, something that I’ve never seen. We have superpowers,” Nussle said. “Cooperative superpowers, that when we do things together, when we solve problems together, you cannot touch the impact that credit unions have on their members. We need to use those superpowers.
“CUNA is on a mission to be your champion, to be your guide, to be your strongest advocate, and I think we have the reputation to back it up,” he added, citing victories last year that included keeping NCUA out of appropriations, convincing the Consumer Financial Protection Bureau to tailor its payday lending rule and supporting repeal of the bureau’s arbitration rule.
In 2017, credit unions helped 750,000 homebuyers get mortgages, made 2.2 million new and used car loans, helped 175,000 students get loans for college, and helped create 110,000 new jobs across the country.
In addition, Nussle highlighted how credit union members saved $10 billion in better rates than banks, and credit unions were responsible for $13 billion in economic activity in 2017.
“We’re big enough to solve any problem that a member walks into our offices to deal with, yet we’re small enough to know their name and to be their partner in whatever comes along,” he said. “in fact, we’re there best financial partner where dreams thrive and where you can actually achieve your own version of a fantastic future, faster than anywhere else.”
►Read more conference coverage from CUNA News, and get live updates on Twitter via @CUNANews, @cumagazine, @CUNA, and by using the #CUNAGAC hashtag. You can also follow the conference on Facebook and Instagram. For a complete schedule and information on keynote speakers and breakout sessions, visit the CUNA GAC event page.