Kansas Credit Unions Gather at Capitol to Stress Impact of Growing Regulations, Reiterate Their Value in Serving Consumers
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Topeka, Kan. (Feb. 10, 2011) – Braving Wednesday’s cold and snowy weather, credit union representatives from across the state traveled to the Statehouse to meet with legislators and discuss important issues affecting the state’s 101 credit unions and the 605,000 members they serve.
At the Kansas Credit Union Association’s Annual Day at the Capitol, the message to legislators was two-fold: Be mindful of new legislative and regulatory burdens that affect credit unions’ ability to serve their members, and remember that credit unions remain especially valuable to consumers in today’s tough economy.
“While the weather prevented some attendees from participating, those taking part did a great job of carrying the message,” said Marla Marsh, president/CEO of KCUA. “We heard from several legislators that they not only understand the impact of increasing regulations on credit unions, but will work to maintain a balance between protecting consumers and stifling business growth.”
That was a main point made during the day’s keynote event, a panel discussion featuring the state’s top legislative leaders: Senate President Steve Morris, Senate Minority Leader Anthony Hensley, House Speaker Pro-Tem Jene Vickrey and House Minority Leader Paul Davis.
“People are becoming increasingly mindful that we are over-regulated in certain areas,” said Rep. Davis. “But we also have to be cognizant that regulations are in place for a reason. It’s a balancing act.”
Sen. Morris agreed. “Congress hasn’t figured out how to regulate the big institutions, so they’re over-regulating, and that is affecting smaller institutions,” he said. “We are very conscious about the effects of the laws and try to limit those that aren’t needed.”
The day also included scheduled legislative visits with state legislators in both chambers and an afternoon presentation by Kansas State Treasurer Ron Estes, whose office works with KCUA to provide financial literacy camps for students statewide.
According to Marsh, the changing dynamic within the Kansas Statehouse makes this an important time to share the credit union message. “With 35 newly elected representatives, six new senators and a new governor, we have a great opportunity to collectively raise our voices,” she said.
Marsh explained that Kansas credit unions play a key role in the lives of many Kansas consumers. “Our assets, shares and loans have continued to grow and outpace national trends, and we provide more than $34 million annually in direct benefits to our members. Together, we have a great message to share – that credit unions are a smart choice in today’s uncertain economy.”
To learn more about Kansas credit unions, visit www.kcua.coop.
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About the Kansas Credit Union Association
The Kansas Credit Union Association is the trade association for credit unions in Kansas, serving more than 605,000 Kansas consumers. Established in 1934, the Association’s mission remains the same – to assist member credit unions in meeting the needs of their members and potential members to further the success of the credit union movement. Strategies center on this mission: to unify the credit union movement, provide operational assistance to credit unions, promote growth and advocate on behalf of the membership. For more information, visit www.kcua.coop.