The MD|DC Credit Union Association hosted its annual Climb the Capitol event virtually, giving credit union executives the opportunity to engage directly with members of Congress and champion the key issues affecting the 2.2 million members they serve in the Maryland and DC region.
Senator Chris Van Hollen kicked off his meeting by expressing support and appreciation for credit unions and said he looked forward to maintaining and strengthening the credit union model. The Association's Advocacy Team and credit union executives also met with Rep. Jamie Raskin as well as staff for Senator Ben Cardin, House Majority Leader Steny Hoyer and Rep. David Trone.
“These meetings are fundamental to keeping our congressional delegation aware of how federal regulations and legislation impact the ability of credit unions to serve their members and their communities,” said John Bratsakis, MD|DC Credit Union Association President/CEO. “It’s an opportunity for credit unions to effectively frame the issues and share why they are different from other financial institutions.”
One CEO summed up the essence of the credit union difference with this: “We are the ultimate consumer protection agency -- our members own us,” said David Woodruff, President/CEO of APL FCU.
Those members benefit by having access to safe and affordable financial services. A bill that would leverage the credit union model to expand financial access to underserved communities is being considered by Congress. Credit unions expressed support for the legislation.
“People are struggling, and we have to be able to help them,” said Santita Prather, Manager of Talent Acquisition and Development, SkyPoint FCU.
She explained that as a Certified Community Development Financial Institution (CDFI), SkyPoint FCU has the ability to create special programs to specifically meet the needs of the communities they serve.
Credit unions also urged lawmakers to help protect consumers by advancing federal legislation to establish data protection and notification standards, pointing out that credit unions, and their member-owners, take the financial hit, not the source of the hack when a breach occurs.
Other issues discussed with lawmakers:
- Replacing the Consumer Financial Protection Bureau director with a bipartisan, five-member commission.
• Raising the Member Business Lending Cap.
• Opposition to expanding the Durbin amendment to credit card programs.
The MD|DC Credit Union Association hosted its annual Climb the Capitol event virtually, giving credit union executives the opportunity to engage directly with members of Congress and champion the key issues affecting the 2.2 million members they serve in the Maryland and DC region.
Senator Chris Van Hollen kicked off his meeting by expressing support and appreciation for credit unions and said he looked forward to maintaining and strengthening the credit union model. The Association's Advocacy Team and credit union executives also met with Rep. Jamie Raskin as well as staff for Senator Ben Cardin, House Majority Leader Steny Hoyer and Rep. David Trone.
“These meetings are fundamental to keeping our congressional delegation aware of how federal regulations and legislation impact the ability of credit unions to serve their members and their communities,” said John Bratsakis, MD|DC Credit Union Association President/CEO. “It’s an opportunity for credit unions to effectively frame the issues and share why they are different from other financial institutions.”
One CEO summed up the essence of the credit union difference with this: “We are the ultimate consumer protection agency -- our members own us,” said David Woodruff, President/CEO of APL FCU.
Those members benefit by having access to safe and affordable financial services. A bill that would leverage the credit union model to expand financial access to underserved communities is being considered by Congress. Credit unions expressed support for the legislation.
“People are struggling, and we have to be able to help them,” said Santita Prather, Manager of Talent Acquisition and Development, SkyPoint FCU.
She explained that as a Certified Community Development Financial Institution (CDFI), SkyPoint FCU has the ability to create special programs to specifically meet the needs of the communities they serve.
Credit unions also urged lawmakers to help protect consumers by advancing federal legislation to establish data protection and notification standards, pointing out that credit unions, and their member-owners, take the financial hit, not the source of the hack when a breach occurs.
Other issues discussed with lawmakers:
- Replacing the Consumer Financial Protection Bureau director with a bipartisan, five-member commission.
• Raising the Member Business Lending Cap.
• Opposition to expanding the Durbin amendment to credit card programs.
