CEO Update: DCUC advocacy, an important part of our industry

Successful advocacy can take time, patience, help from others, and lots of goodwill. If you have ever tried to convince someone to do something for whatever purpose, this comes as no surprise. Yet, when your efforts are successful and good things come from it, it’s always worth looking back on the journey to “yes,” revisiting those key moments when such persistence made the difference.

Last month, DCUC was happy to report that the NCUA Board unanimously approved expanding the definition of “qualified charities” as it pertains to its regulation on Charitable Donation Accounts allowing for more disbursements to Veteran Service Organizations. To be honest, when Abound CU at Fort Knox, Kentucky raised this issue, I thought it would be a slam dunk in terms of getting approval. Who would want to exclude veteran service organizations from charitable donations?

So, when we started advocating for this change in November of 2021, I felt confident it would only take a couple months to be successful. However, I am reminded of what Heavyweight Champ Mike Tyson said, “Everybody has a plan until they get punched in the mouth.” While we didn’t get “punched in the mouth,” the NCUA legal staff advised against making the change, knocking our efforts back a few steps. Thus, it would take 18 months to eventually get to the “yes.”

Time and patience were not the only important factors that helped us claim success. As President Harry S. Truman once said, “It is amazing what you can accomplish if you do not care who gets the credit.” As long as DCUC’s advocacy victories remain Anthony Hernandez, President and CEO, DCUC CEO UPDATE centered on championing the best interests of our military and veteran members, we don’t mind who gets “bragging rights” so long as these members are the ones gaining a deserved benefit or protected from a notable risk.

 

continue reading »