ALBANY, NY (May 2, 2014) -- Credit union advocates from every corner of the state were in Albany this week to meet with their elected officials during the Credit Union Association of New York’s State Governmental Affairs Conference.
The conference kicked off Monday with a compliance update presented by CUANY Compliance Director Michael Carter. Carter focused his discussion on NCUA’s risk-based capital proposal and reviewed the importance of commenting on the proposed rule.
“This is my third year attending State GAC, and the education provided here is one of the main reasons I keep coming back,” said Mike Mattone, assistant vice president of Municipal Credit Union. “I think it’s extremely important that we all stay educated on the key issues that our industry is facing so we can do a better job of educating our members.”
Tuesday’s general session featured the presentation of the state-level Dora Maxwell Social Responsibility Community Service Awards; Louise Herring Philosophy in Action Member Service Awards; and Desjardins Youth and Adult Financial Education Awards.
Several state lawmakers—including Assemblywoman Annette Robinson (D-Brooklyn), Assemblyman Brian Kolb (R-Canandaigua) and Sen. Ted O’Brien (D-Irondequoit)—also addressed the group. All three lawmakers discussed the importance of state-level advocacy and reiterated their strong support for credit unions.
“The impact credit unions have on the state is just a phenomenal thing—one in four New Yorkers are now credit union members,” said O’Brien. “Credit unions are invested in their communities in ways that other banking entities are not.”
Attendees then heard from former Rep. Vito Fossella, who represented Staten Island and parts of Brooklyn in the U.S. House from 1997-2009. Fossella currently serves as managing director for Park Strategies, one of the most prominent lobbying and consulting firms in New York.
During his time with the group, Fossella praised credit unions for their commitment to low-income and underbanked communities. “When all the banks pull out, it’s the credit unions that step in,” he said. Fossella also called credit unions a “central and integral part of the nation’s fabric who provide capital when others walk away.”
The former congressman went on to voice his support for “common sense” supplemental capital legislation, and encouraged the group to continue advocating at both the state and federal levels.
Tuesday’s agenda also included a legislative briefing by CUANY Senior Vice President and General Counsel Mike Lanotte, and a special legislative reception, which more than 40 New York lawmakers attended.
Nearly150 credit union advocates visited the state Capitol the following morning to lobby for their issues and thank lawmakers for their support on pro-credit union legislation. The advocates asked their legislators for support on legislation dealing with prize-linked savings accounts, state charter enhancements, demand note robberies and public funds depositories. Many attendees also discussed the history, structure and cooperative philosophies of credit unions during their time with the lawmakers.