CUNA Deputy Chief Advocacy Officer Jason Stverak wrote to all members of Congress Wednesday with several credit union priorities for the remainder of the year, including opposing interchange legislation and supporting the Credit Union Board Governance Modernization Act.

Credit union champions from around the country were victorious in Tuesday’s mid-term elections. CUNA, Leagues, and CUNA’s federal PAC, the Credit Union Legislative Action Council, invested $6.6 million in support of 398 candidates on the ballot Tuesday.

The Credit Card Competition Act would harm consumers and take money out of their pocket, Eglin Federal Credit Union President/CEO Jerry Williams wrote in The Capitolist, also objecting to attempts to attach the bill to the National Defense Authorization Act.

Credit unions support the “whole-of-government” approach to digital assets to ensure appropriate oversight and regulation of the marketplace, CUNA wrote to the Treasury’s Office of Strategic Policy, Terrorist Financing and Financial Crimes.

CUNA Senior Economist Dawit Kebede said Labor Department’s October Employment Situation shows a slower pace in job and hourly wage increases, indicating labor market conditions might be moving in the direction the Federal Reserve wants them.

The Cooperative Credit Union Association conducted a Mental Health First Aid at Work workshop for CCUA member credit unions in partnership with the National Council for Behavioral Health for a first-of-its-kind hybrid certification program.

Credit union diversity, equity, and inclusion (DEI) efforts are part of the credit union movement, whether internally, or how credit unions serve communities, panelists said Wednesday at NCUA’s DEI Summit. CUNA Vice President of DEI Samira Salem participated in a panel on sustainable DEI in the credit union movement, and moderated a panel on DEI in leadership later in the summit.

CUNA, the American Association of Credit Union Leagues (AACUL), and Leagues wrote to NCUA board members Wednesday urging the board to ensure that creditworthy credit unions with negative tangible equity are able to “quickly and efficiently” obtain necessary written requests for advances from NCUA to the Federal Home Loan Banks (FHLBanks).

CUNA Senior Economist Dawit Kebede said the Fed's raising of the benchmark interest rate reiterates its commitment to bring inflation down to 2% but said future rate increases will consider the lag with which monetary policy affects economic activity and inflation.

NCUA released the results of the 2021 Credit Union Diversity Self-Assessment, showing 61% of responding credit unions reporting a leadership and organizational commitment to diversity and 56% reporting taking steps to implement employment practices to demonstrate that commitment.