Leagues, credit unions from 12 states engage with policymakers in D.C.
September 23, 2022
North Dakota credit unions and the Dakota Credit Union Association meet with Sen. John Hoeven, R-N.D., in his Washington, D.C. office. (Dakota Credit Union Association photo)
Nine credit union Leagues representing 12 states were in Washington, D.C., last week for visits to Capitol Hill and other policymakers. Credit unions brought stories and data showing the power of the credit union difference as they advocated for policies to allow them to better serve members.
The California and Nevada Credit Union Leagues and credit unionshighlighted the need for modernization of the federal credit union charter, credit union opposition to credit card interchange fees, and the importance of a strong national data security standard.
The Credit Union League of Connecticut and its member credit unions discussed the issues surrounding cannabis banking and other credit union priorities with the state's Congressional delegation.
Dakota Credit Union Association staff and credit union professionals met with all three NCUA board members, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, as well as elected officials.
The Iowa Credit Union League and its member advocates emphasized a number of financial issues affecting Iowas, including financial and childcare deserts within the state.
Thank you Senator @ChuckGrassley for meeting with #iowacreditunions today in DC to talk about issues that help improve the financial lives of Iowans, including data privacy, protecting security of credit card payments and access to financial services for underserved communities. pic.twitter.com/wmv7rSaG7K
The League of Southeastern Credit Unions and Affiliates (LSCU) visited 36 different House and Senate offices for Alabama, Florida, and Georgia, as well as with leadership of NCUA and the CFPB.
“LSCU’s Hike the Hill allows credit unions to play an integral role in the legislative process,” stated Henry Armstrong, president/CEO of Auburn University Credit Union and board chair of LSCU. “This year was no exception in that we had incredibly productive meetings with key members of Congress. I left feeling like we had made a real difference in moving the needle on important credit union legislation.”
“Discussing our concerns about the Durbin/Marshall bill was a top priority for us during this trip,” shared Robert Caverly, Maine League vice president of advocacy and outreach. “We wanted to make sure that in each meeting, we emphasized that consumers, small businesses, and small community financial institutions will lose the most if this legislation is enacted. We drove home the point that interchange fees are part of the cost of doing business and that too much would be at stake in terms of data security should this bill move forward.”
The Ohio Credit Union League discussed interchange, and the importance of data privacy and security, with policymakers, including with Rep. Bob Latta, R-Ohio, a member of the House Energy and Commerce Committee.
A member of the House Energy & Commerce Committee, Rep. @boblatta is in a key position to help solve the growing data privacy issue. #WeAreOCUL and credit union leaders shared the detrimental impact of data breaches & the need for national standards to hold merchants accountable. pic.twitter.com/gpwEINgWFh
Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.
