Leagues lead big box interchange bill opposition with NAF contributions

October 4, 2023

The Carolinas Credit Union League Board of Directors—at its September meeting—approved an additional contribution of $182,975 to the National Advocacy Fund (NAF) to support ongoing CUNA-League efforts against the big box interchange bill and its supporters’ misguided arguments.

The NAF has been leveraged by CUNA and the credit union system for many years to fund extraordinary political initiatives. In June, CUNA asked credit unions and leagues to raise an additional $4 million to support efforts to prevent the passage of the big box interchange bill.

“Our contribution represents the Carolinas credit unions portion of the $4 million funding request,” shared Dan Schline, president/CEO of the Carolinas Credit Union League and chair of the NAF Steering Committee. “Instead of soliciting our credit unions for the additional dollars, the League Board approved directly funding the request. We appreciate the Board’s leadership and are pleased to be in a position to support NAF to the fullest extent.”

The threat of interchange legislation advancing in Congress remains real, according to Schline.

“As a credit union system, we need to continue to work together to educate lawmakers on how the current interchange system allows credit unions to combat fraud, extend credit, and provide the access that members need and want. Funding NAF is one way to help and is strategically important to our advocacy efforts.”

The Carolinas Credit Union League support is the latest in major donations and fundraising efforts by Leagues including Cornerstone League, Illinois Credit Union League, Indiana Credit Union League, the League of Southeastern Credit Union Leagues and Affiliates, and the Michigan Credit Union League.