Senators introduce bipartisan governance modernization bill

May 20, 2021

Sens. Tina Smith (D-Minn.) and Ben Sasse (R-Neb.) introduced a bipartisan bill, the Credit Union Employee and Member Safety Act Thursday. The bill would update the credit union member expulsion process while ensuring a fair procedure for reinstatement.

“We thank Sens. Smith and Sasse for their bipartisan bill that would modernize the Federal Credit Union Act to support staff and member safety,” said CUNA President/CEO Jim Nussle. “We look forward to working with them to advance this bipartisan legislation so that we can bring credit union governance into the 21st century.”

CUNA, the Minnesota Credit Union Network and the Nebraska Credit Union League engaged directly on the bill.

“This bill is an important update of the federal credit union charter and prioritizes the safety of credit union members and the staff that serve them,” said Mark Cummins, president/CEO of the Minnesota Credit Union Network. “We appreciate Senator Smith’s commitment to strengthening the security of Minnesota credit unions.”

“The safety and security of credit union employees and credit union members is paramount to Nebraska’s credit unions and therefore we strongly support the Credit Union Employee and Member Safety Act and urge its passage. Nebraska credit unions thank our United States Senator Ben Sasse for his commitment to the safety of credit union employees and their members,” Scott Sullivan, president/CEO of the Nebraska Credit Union League.  

Reps. Tom Emmer (R-Minn.) and Ed Perlmutter (D-Colo.) introduced a bipartisan version of this bill in the House in April.