Nearly 150 Iowa credit union advocates visited the Capitol during the Iowa Credit Union League’s (ICUL) annual Legislative & Regulatory Issues Conference, Feb. 6-7, in Des Moines.
During the visit, advocates met with lawmakers and asked them to preserve the tax structure of Iowa credit unions.
"Credit unions are not-for-profit cooperatives that save more than 1.1 million Iowa credit union members $100 million annually through lower rates and fewer fees than they would get through banks," said Murray Williams, ICUL chief operating officer. "Credit unions put people before profits. We are here this week to remind our legislators of the differences between credit unions and banks--and while bankers continue to enjoy record profits, we are here to protect the financial choice of Iowans."
The day began at the Des Moines Marriot Downtown, where attendees heard from Iowa Governor Kim Reynolds. During her speech, Reynolds said she recognizes the value credit unions provide to Iowans and stated that no changes to credit union rules were included in her proposed tax legislation.
"We greatly appreciate the governor taking time to speak to our credit union leaders. She is an advocate for all Iowans having access to affordable financial services," said Williams. "We look forward to continuing to partner with her to help Iowans keep more of their hard-earned money in their own pockets."
Attendees also heard from compliance experts to understand and keep up on the latest regulatory issues facing financial institutions. Other notable speakers during the conference included State Budget Director Dave Roederer, Iowa Division of Credit Unions Superintendent Katie Averill and Retired Army Colonel Jill Morgenthaler.