Minnesota Hosts Meet-And-Greets With Federal Elected Officials
Contact: Rachel Anderson
(800) 477-1034, (651) 288-5527
AUSTIN/ST. PAUL, Minn. – Maintaining an open dialogue with Minnesota’s federal elected officials, the Minnesota Credit Union Network (MnCUN) hosted two legislative meet-and-greets in late September. These in-district meetings with Congressman Tim Walz (D-1st District) and Sen. Amy Klobuchar (D-Minn.) enabled credit union representatives to build upon the momentum gained during MnCUN’s September Hike the Hill as they discussed the intricacies of today’s top credit union issues.
The meet-and-greet series kicked off on Sept. 27 with a meeting with Congressman Walz at Accentra Credit Union in Austin. Credit union professionals received a brief congressional update from the congressman, who provided insight into the federal budget debate and the current gridlock in Washington, D.C. The conversation also focused on the Small Business Lending Enhancement Act (H.R. 1418 and S. 509), which would increase credit unions’ member business lending (MBL) authority to 27.5 percent of total assets. Emphasizing the importance of increasing the availability of credit, Congressman Walz indicated that he has heard stories of small businesses that are struggling to obtain loans.
Credit unions continued the conversation about MBL during a meeting with Sen. Klobuchar on Sept. 28 at Affinity Plus Federal Credit Union in St. Paul. The group emphasized the importance of the business lending legislation and highlighted the many potential benefits this legislation could have on the Minnesota economy. The discussion also focused on the compliance and regulatory burden of the Dodd-Frank Wall Street Reform & Consumer Protection Act. Attendees provided Sen. Klobuchar insight into the time and resources credit unions are dedicating to comply with these new regulations.
They also emphasized that despite increased regulations and the potential ramifications of the interchange amendment, credit unions remain dedicated to keeping fees low for consumers.
“Our meetings with Congressman Walz and Senator Klobuchar gave us the unique opportunity to provide them insight into the behind-the-scenes work of credit unions,” said Mara Humphrey, MnCUN Vice President – Governmental Affairs. “Through our discussions, we were able to showcase how Minnesota credit unions are working to protect the state’s consumers.”
The Minnesota Credit Union Network is an organization representingthe state’s 145 not-for-profit cooperative credit unions serving more than 1.5 million member-owners in Minnesota.
For more information, visit www.mncun.org.