BIRMINGHAM, Ala. (4/10/15)--Alabama Gov. Robert Bentley concluded the Alabama State Governmental Affairs Conference (GAC) Thursday by thanking credit unions for doing a fantastic job in their communities, said the League of Southeastern Credit Unions (LSCU) and Affiliates (eSignal Daily April 9).
Alabama Gov. Robert Bentley thanked state credit unions for serving their communities. (League of Southeastern Credit Unions Photo)
Bentley said that very little in his $700 million tax plan would affect credit unions. The state budget has a $290 million deficit, and Alabama is 50th in state taxes. Many businesses there operate with millions of dollars of tax breaks, he said.
The GAC also honored Rep. Randy Davis (R-Mobile) as the 2014 Alabama State Lawmaker of the Year. A longtime credit union member and supporter, Davis was expected to introduce public deposits legislation this week. Allowing credit unions to accept deposits from public entities is a top priority for the league and the state's credit unions. Davis also was instrumental in updating the State Credit Union Act last year.
Regulatory relief and data breaches are the two hot topics for credit unions, said CUNA Chief Advocacy Officer Ryan Donovan, who presented federal issues and credit union opportunities.
In advocating issues, relationships are key, said former Alabama Secretary of State Beth Chapman. "If your legislator knows you, they trust you, and that will lead to action." Handwritten notes are most effective. Credit unions should mention the bill number of the legislation, have a 60-second speech ready without going into detail, and offer a solution, she said.
Alabama Credit Union Administration Administrator Sarah Moore discussed avoiding liquidity risk by making good loans.
Sharon Daigle, National Credit Union Administration Region III supervisory examiner, discussed new procedures for credit unions under $30 million in assets.
More than 40 legislators, including state Speaker of the House Mike Hubbard and House Majority Leader Micky Hammon, attended the legislative reception.