I love history. If you read enough books and watch enough of the History Channel, you’ll see a trend. When there's a crisis, an injustice, a struggle—the affected people band together.
If they can put aside their differences, they are able to persevere. Their resiliency and resolve on full display.
We’re in this together. So I’ll have your back, and you’ll have mine.
I think this is true with credit unions as well.
Individual credit unions formed that way. Twenty people threw money into a cigar box. Or was it a shoe box? Why? Because together, we can help each other as individuals. That is woven into our DNA—working together. And those shoe boxes and cigar boxes grew. Now, credit unions collectively serve more than 144 million consumers across America. With the current government shutdown and pending impact to the Community Development Financial Institutions (CDFI) Fund, there’s a spotlight on credit unions’ people-first mission, one that is put into action every single day. And it just makes sense. We were formed to help each other. So when problems arise, we know what to do.
Credit unions’ partnership with their members includes but goes well beyond simple business transactions, creating transformative impacts on people’s lives. For America’s Credit Unions, the credit union difference is foundational to our unified effort to ensure policymakers understand credit unions’ importance.
That’s where our cooperative system comes in, and where our strength lies. A coalition, if you will.
Our credit unions are the boots on the ground in communities, working miracles every day—even during a government shutdown, economic downturns, or everyday financial challenges. The member-first mentality that’s present in each interaction is unique to credit unions’ cooperative model.
State leagues are the next link in the coalition. They’ve spent years building relationships at the local level, connecting with key legislators and maintaining those relationships as many of them ultimately rise to federal office.
Leagues also provide an incredible set of eyes and ears into each state, as their presence, knowledge, and passion are critical in keeping the entire movement informed about issues credit unions in each state and region are facing. Alongside America’s Credit Unions, we work together to find policy solutions that make sense in your communities and at the federal level.
Throughout the system, there are countless other not-for-profit organizations, charitable foundations, and service providers that are committed to strengthening the credit union movement. Together, we’re able to leverage our expertise, passion, and unified voice.
When the system works as designed, it can do incredible things for credit union members.
Just last month, America’s Credit Unions, Leagues, and Inclusiv—in ongoing efforts to protect the CDFI Fund—helped secure the support of 103 Republican members of Congress to reaffirm the value of the CDFI Fund, which is facing funding questions and reductions in force.
This fund helps communities left behind by the big banks, and credit unions turn relatively small federal grants from the CDFI Fund into massive investments in people and communities.
Getting legislators together for a specific request doesn’t happen overnight. Years of relationship building allows us to call on credit union champions when they’re needed most. These relationships require regular engagement, and when it’s time to act, a clear message about why and how credit unions are part of the equation.
Coalitions aren’t easy. It is easy to stand outside and second-guess. The real work is sitting around the table, talking, setting aside differences, and focusing on the larger goal. And working together, focusing on things larger than our individual selves.
For credit unions, we are ensuring that every-day Americans have a fighting change to build a better life.
And that is something worth fighting for.
