Press
Connecticut’s credit unions welcome lawmakers
MERIDEN, CT (July 1, 2015) — The Credit Union League of Connecticut (CULCT) hosted its annual Government Affairs Conference on Monday, June 29, at the Hilton Hotel in Hartford, Connecticut. Credit union leaders from around the state showed up to hear from national and local lawmakers and policymakers. Congressman John Larson, Senator Chris Murphy, Senator Richard Blumenthal, State Representative Eric Berthel, CT Department of Banking (DOB) Commissioner Jorge Perez, and Trey Hawkins, VP Political Affairs for the Credit Union National Association (CUNA) addressed issues affecting credit unions and gave federal and state updates.
The first speaker was longtime credit union supporter Congressman John Larson. He reiterated his support for credit unions and recognized all that credit unions are doing for their communities. Larson also stressed the importance of grassroots advocacy.
The second speaker was Connecticut State Representative, Eric Berthel – also a credit union employee at Hartford Healthcare FCU. Berthel touched on the recent Connecticut budget that was passed by the legislature and described changes he would like to see in a special session later that morning. Berthel talked about his involvement in getting a Financial Literacy bill recently signed into law and the opportunity available for Financial Reality Fairs, put on by Connecticut’s Credit Unions.
Commissioner Jorge Perez of the DOB greeted Connecticut’s Credit Unions as the third speaker. Perez expressed his support for the good work that credit unions are doing. He covered two bills that recently became law that could have an impact on credit unions. Perez welcomed an open dialogue on the new laws requiring regulation on virtual currency and student loan services. It was also clarified that state chartered credit unions are eligible to get a low-income designation if they meet the NCUA requirements.
Trey Hawkins, VP Political Affairs for CUNA gave an overview of CUNA’s new Membership Activation Program (MAP). A yearlong research study showed that members who are engaged in the advocacy process are more loyal and do more business with their credit union. Hawkins also covered the work of CULAC, its success, and continued need for support from those working in the credit union industry.
U.S. Senators Chris Murphy and Richard Blumenthal voiced their support for credit unions. Senator Murphy co-sponsored the only bill in the Senate that was credit union supported. Both Senators affirmed their commitment to keeping jobs in Connecticut and driving growth.
“Advocacy efforts like this conference are critical to our mission to remove barriers that allow credit unions to better serve their members,” said Jill Nowacki, President/CEO, CULCT. “The League and our credit unions are incredibly appreciative to all the elected officials and speakers who shared their time with us.”
A consistent theme at the conference was cybersecurity. It was repeatedly said that there is a focus to minimize the threat of data breaches. Connecticut’s Credit Unions will be hearing more information soon from CULCT and the DOB on upcoming cybersecurity training happening later this year.
About the Credit Union League of Connecticut
The Credit Union League of Connecticut (CULCT) is a statewide non-profit trade association serving credit unions throughout Connecticut. Through consumer advocacy initiatives and providing credit unions essential resources, CULCT is a valued partner in making Connecticut’s credit unions successful. Credit unions are not-for-profit financial cooperatives. By uniting for good, Connecticut’s Credit Unions are your best financial partner. No matter where you live or work in Connecticut, there’s one for you.
Photo captions: Pictured from left to right: (1) U.S. Congressman John Larson, Jill Nowacki, President/CEO, Credit Union League of Connecticut; (2) Connecticut State Representative Eric Berthel, Jill Nowacki, President/CEO, Credit Union League of Connecticut: (3) U.S. Senator Richard Blumenthal, Jill Nowacki, President/CEO, Credit Union League of Connecticut, U.S. Senator Chris Murphy
