Credit unions show up every day for the 146 million Americans who rely on them, and that includes a dedicated advocacy machine that is always on. As someone experiencing the credit union industry as an insider for the first time in my 20+ year advocacy career, I must say as a unified movement, the strength of the credit union network is undeniable and something I haven’t seen anywhere else.
Credit unions have seen some major advocacy wins in recent weeks:
- The Credit Union Board Modernization Act was passed by both chambers of Congress as part of the 21st Century Road to Housing package and is on its way to the President. This is a meaningful win, one that modernizes governance for credit unions and reflects sustained, coordinated advocacy across the movement.
- Credit unions have been successful in limiting the negative effects of interchange prohibition legislation. The NCUA recently issued a final rule preempting federally chartered credit unions from the Illinois Interchange Prohibition Act. This rule complements the Office of the Comptroller of the Currency’s actions and confirms that state legislation cannot interfere with the national payments system. Our legal challenge against the law is ongoing as we hope to secure total relief for credit unions.
- In Colorado, the GoWest Credit Union Association and local credit unions led efforts to strike down the state’s own version of the Interchange Prohibition Act. Governor Polis vetoed the bill after a dedicated campaign engaging lawmakers and educating stakeholders about the real-world impacts the bill would have had on members, businesses, and the national payments system.
- The NCUA's final rule on Dependent Care and Board Member Reimbursement is another hard-fought victory. After more than a year of advocacy from America's Credit Unions, the agency acknowledged what we had long argued: that caring for a loved one should not be a barrier to volunteer board service. This is the kind of regulatory change that doesn't make headlines but makes a real difference in who can lead a credit union.
- On the reconciliation front, despite multiple vehicles moving through Congress, financial services pay-fors did not materialize. That is not an accident. It reflects the disciplined vigilance of this movement at every stage of the legislative process.
I recognize this momentum is a culmination of years of hard work at the local, state and federal levels. I am thrilled that I have the opportunity to work alongside smart, dedicated professionals to advance the credit union movement.
In meeting with Leagues and credit unions around the country, I’m not only struck by the passion and commitment to the industry, but the constant willingness to engage, collaborate and achieve our shared objectives.
That dedication to the credit union mission is the secret ingredient behind credit union advocacy and a philosophy of engagement with the present while looking ahead to the future. It is a commitment to moving smart policies forward while opposing harmful legislation and one-size-fits-all regulation.
Additionally, credit unions ability to remain nimble in the face of change is a superpower. We see this with changes at the National Credit Union Administration, as a potential new Chair is currently moving through the nomination process. Capitol Hill alum and Treasury Department’s John Crews is a familiar face to credit unions, having met with the America’s Credit Unions team, Leagues, and credit unions in former and current positions.
On the elections front, America’s Credit Unions PAC and League partners are hard at work electing a pro-credit union 120th Congress, including in a near-record number of open seats. Whether that means supporting Rep. Andy Barr in his bid to move to the Senate, standing behind champions like Reps. Young Kim and Brad Sherman through tough re-election bids, or working to fill open seats with credit union supporters, our endorsements and support have been effective in advancing candidates to the November general election.
When you have 146 million members counting on the services credit unions provide every day, it’s a stark reminder of what’s at stake. Luckily, those members have leagues going to bat for them in every statehouse and a national trade association with an advocacy team that has the expertise and experience to effectively advocate within the halls of Congress.
The policy conversations happening right now on a magnitude of issues, such as digital assets, artificial intelligence, and data privacy, will become enacted policy in the coming years, and our advocacy efforts will ensure we’re part of every phase of development.
I’m proud to lead a team doing its part to fight for members today and for the consumers who will become members tomorrow. People are increasingly selective with who they trust with their financial lives, and credit unions are unequivocally the partner they trust.
