Leagues and credit unions from Connecticut, Maine and Michigan were in Washington, D.C. earlier this month to talk credit union issues with regulators and legislators.
The credit union difference, and how it continues to reinforce the need for the credit union tax status, was among primary topics of conversation during the visits. Other topics included the current expected credit loss standard, Federal Credit Union Act reform, cybersecurity and robocalls.
The Michigan Credit Union League was joined in the nation’s capital by more than 50 credit union leaders from the state. The group met with 13 legislators from Michigan, NCUA Chairman Rodney Hood and hosted a reception at Credit Union House.
Michigan credit unions also expressed strong support for Bank Secrecy Act/Anti-money Laundering legislation, including the COUNTER Act, which passed the House as part of a larger BSA/AML modernization bill several days later.
The Maine Credit Union League and its credit unions received briefings from CUNA and visited with the state’s Congressional delegation and NCUA Chairman Rodney Hood.
“Our meetings with our policymakers were both productive and meaningful,” said Robert Caverly, vice president of governmental affairs with the Maine Credit Union League. “It also was nice to time our trip around International Credit Union Day, as it provided a great opportunity to highlight the contributions credit unions are making across Maine in their communities.”