COLUMBIA, SC (September 25, 2023) — In a year marked by aggressive fundraising endeavors for the National Advocacy Fund (NAF), the Carolinas Credit Union League Board of Directors, at its September meeting, approved an additional contribution of $182,975 to the fund. The additional contribution to NAF supports ongoing efforts by the Credit Union National Association (CUNA) and leagues to combat big box retailers’ attempts to extend misguided regulation on credit card interchange.
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 Credit Card Competition Act (CCCA).
“Our contribution represents the Carolinas credit unions portion of the $4 million funding request,” shared Dan Schline, president and CEO of the Carolinas Credit Union League. “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.”
While attempts to attach the CCCA to the National Defense Authorization Act earlier in the year were unsuccessful, there are several other pieces of must-pass legislation that proponents may use as potential vehicles for the CCCA in the coming months. 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 is the not-for-profit association of credit unions throughout North and South Carolina. Established in 2014 with a commitment to the cooperative spirit, the Carolinas Credit Union League is credit unions’ primary advocate and much more, promoting their success through risk and compliance resources, professional development, product and service enhancements, and back-office support.
Brandon Pugh
VP, Public Relations & Communications
Carolinas Credit Union League
800.822.8859, ext. 410
bpugh@carolinasleague.org
Courtney Jackson
Director, Integrated Communications
cjackson@carolinasleague.org
800-822-8859, ext 076
