Carolinas credit union advocates keep pace with Congress during August in-district work period

The Carolinas Credit Union League and representatives of more than 20 credit unions capitalized on the August congressional in-district work period, connecting locally with ten members of Congress and two legislative staffers on priorities affecting service to consumers and their financial well-being.

An Aug. 11 meeting with a member of Sen. Ted Budd’s, R-N.C., staff began a 17-day stretch crisscrossing both states, including four meetings over five days and a three-meeting flurry on Aug. 28. While the League has consistently engaged delegation members at home each August, active issues this year brought added urgency. Meeting away from Washington, D.C. also allows elected officials to dedicate more time and attention away from potential votes, hearings, and other distractions.

“With so many timely issues such as interchange, CFPB regulation, digital currency proposals, and general state of the financial industry following the recent bank failures, our credit unions were eager to meet with our elected officials,” notes League Federal Affairs Manager Nate Lane. “They have had much to talk about and appreciate being included in these conversations.”

In each meeting, advocates focused on:

• Explaining the purpose of credit card interchange and the harmful impacts of Durbin 2.0 on financial institutions, small business, and consumers if enacted.
• Appreciation and support for the Credit Union Board Modernization Act to allow credit union boards to operate more efficiently and effectively.
• Expanding consumer access to credit unions through legislation that will give more people—especially the underserved—the option to join and a credit union for their financial needs.
• Sharing the credit union difference including their outreach as vested members of their local communities.
• Underscoring the importance of programs like the CDFI Fund, which helps designated credit unions better meet the particular financial services needs of underserved communities.

Those were of particular interest to Sen. Thom Tillis, R-N.C., who served on the Senate Banking, Housing, and Urban Affairs Committee and Reps. Ralph Norman, R-S.C., and William Timmons, R-S.C., who serve on the House Financial Services Committee, each visiting credit union locations along their itineraries.

“It’s always great to get a chance to sit down and talk face to face with any elected official, especially a senior member of the Senate Banking Committee,” said Skyla Chief Administration Officer and General Counsel Joe Clark, who alongside the League and leaders of three other credit unions met with Sen. Tillis on August 16. “I appreciate Senator Tillis’ candid remarks and his continued support of the credit union movement.”

Every opportunity was invaluable, with others joining credit union advocates with Reps. Joe Wilson, R-S.C.; Chuck Edwards, R-N.C.; Kathy Manning, D-N.C.; Jeff Duncan, R-S.C.; Russell Fry, R-S.C.; David Rouzer’s, R-N.C. Legislative Aide Chris Zhou.

As Congress returns to Washington and credit unions plan an October trip there, the League has an eye on an even more active August 2024 schedule.

“No occasion is too big or too small for welcoming our elected representation,” Lane adds. “These are unique opportunities for us to not only educate but also form and strengthen relationships with members of Congress who have direct oversight of the policies that govern our industry.”