Press

Dakota Credit Union professionals make proactive visits in Washington, DC

BISMARK, ND (November 6, 2013) — A group of twelve credit union professionals from North and South Dakota were in Washington, DC this week, making visits with regulators including the National Credit Union Administration (NCUA) and the Consumer Financial Protection Bureau (CFPB) to discuss concerns about mortgage rules, increasing regulations, and other issues that are impacting credit unions.  The group also took in a Senate Banking Committee hearing on GSE reform (Government Sponsored Entities – Freddie Mac and Fannie Mae) chaired by Senator Tim Johnson (D-SD) that featured testimony from several players in the financial industry including CUNA’s Bill Hampell, SR. VP and Chief Economist for the Credit Union National Association.

Following those meetings, the credit union advocates made scheduled visits with North Dakota Senators Hoeven and Heitkamp, and South Dakota Senators Johnson and Thune.  The meetings on the Hill focused on three urgent issues that are important to Dakota credit unions:  Tax Reform (preserving the Credit union Tax Exemption); Privacy Notification reform; and GSE reform.  The “Don’t Tax” campaign has evidently had an impact on the Dakotas’ elected officials, as references were made about the volume of credit union post cards their district offices have- and continue to receive – from Dakota credit union members.  As of last July, over 33,000 postcards had been delivered to Dakotas’ representatives, and credit union members continue to sign and submit the “Don’t Tax” cards.

Headquartered in Bismarck, ND, the Credit Union Association of the Dakotas (CUAD) is the professional financial trade association serving 75 credit unions in North and South Dakota with assets in excess of $5.5 billion and serving over 461,300 credit union members. For more information about CUAD visit our website at www.cuad.coop.

---