The victory achieved by CUNA, leagues and credit unions Tuesday with House passage of the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) was made possible by months of 360-degree advocacy, as the credit union system engaged lawmakers on all levels to express the need for the bill.
CUNA heavily advocated for passage of the bill, and wrote to Congressional leadership by itself and in conjunction with the Independent Community Bankers of America. CUNA’s Governmental Affairs Conference saw thousands of credit union advocates take their S. 2155 support directly to Congressional offices.
CUNA President/CEO Jim Nussle and a delegation of credit union leaders also met with President Donald Trump in March to discuss the need for S. 2155.
During Senate consideration, CUNA was joined by all 50 leagues in a letter to Senate Majority Leader Mitch McConnell (R-Ky.) and Senate Minority Leader Chuck Schumer (D-N.Y.).
After Senate passage in March, credit union leagues around the country teamed up with their state banking counterparts to write to the state’s representatives to demonstrate the need for the bill, and how communities and businesses would benefit from the regulatory relief in S. 2155.
Credit union leagues in Illinois, West Virginia, Pennsylvania, Wisconsin, Georgia, Washington, Oregon, Idaho, Michigan, Indiana, Connecticut, Maine, Vermont, New Hampshire, Delaware and Massachusetts have also joined with their state banking organizations to urge their members of Congress to support S. 2155.
In addition, the African American Credit Union Coalition wrote to House leadership to contradict claims that the bill’s Home Mortgage Disclosure Act provisions would increasing lending discrimination.
While CUNA and the leagues were able to reach out to members of Congress over the last few months, it was also vital for credit unions themselves to demonstrate the numerous ways the bill would help them better serve their members.
For a look at those efforts, see “S. 2155 passes: CUNA/leagues/CUs back bill in media” in today’s CUNA News.