Despite the divided Congress that will take office in January, CUNA, leagues and credit unions are well-positioned in a challenging legislative environment, CUNA noted in its post-election whitepaper, released Thursday. Titled “Credit Union-Friendly Majority in a Divided Congress,” the paper provides a comprehensive breakdown of credit union involvement in the election, what the results mean and CUNA’s plans for the 116th Congress.
"CUNA will continue educating Members of Congress on the credit union difference and work to ensure that credit unions are part of their economic agendas," said CUNA President/CEO Jim Nussle. "Fortunately, credit unions have champions in Congress who understand and are committed to the credit union difference.
"Having friends and champions in Congress who understand the credit union difference is important not only because securing regulatory relief and expanding credit union powers frequently requires statutory changes to be enacted into law, but also because Congress can exercise tremendous influence on credit unions’ regulatory environment merely through its oversight functions," he added. "The good news is that credit union supporters in Congress did quite well on election night. In fact, voters returned a pro-credit union majority to Congress, thanks to our combined efforts."
CUNA, leagues and credit unions invested nearly $7 million in 388 House and Senate races this year, winning 349 of them, as of Thursday afternoon.
Other highlights of the whitepaper include: