WASHINGTON DC — The Governmental Affairs Conference kicked off this week bringing together over 5,000 credit union leaders in Washington DC. All 50 states were represented at the GAC Hill Hikes, meeting face-to-face with representatives about important issues and reinforcing to representatives the positive impact credit union’s make on their constituents’ financial lives.
“To leave a lasting impression on lawmakers during this week’s visits on Capitol Hill, credit union leaders must be ready to tell their story,” CUNA President/CEO Jim Nussle said.
“It’s going to be up to you to be an advocacy army when speaking to your lawmakers,” Nussle said. “As the people who can speak directly for their consumer members, remind them of the credit union difference.”
For many activists on the Hill this week, that story will center on the problems created by the one-size-fits-all regulations that have wreaked havoc on credit union operations.
Advocating for Common Sense Regulations
Member-owned credit unions like yours are focused on our local communities. We know what middle-class members in our communities need better than any bureaucrat in Washington does. Yet the current Government regulations limit consumer options and are rigged to favor the big Wall Street banks. It’s time to change that!
“We have to make sure our lawmakers continue to understand the positive difference credit unions make for their members and communities,” said CEO, Jason Peach. One major area where Congress can make a big difference is overhauling Washington’s excessive regulation of credit unions. The current set of complex Washington regulations was devised to rein in the big Wall Street banks. But these one-size-fits-all rules do not work for community credit unions on Main Street.
These excessive and unnecessary regulations are:
- Costing members like you an average of $71 per year
- Leading to longer wait lines for mortgages and loans
- Making it harder for credit unions to provide the services and products our members need
These regulations have had a $7.2 billion financial impact on credit unions — as member-owners, this hurts YOUR wallet. Now is the time to put our best foot forward towards regulatory relief. “I feel confident that our voices were heard with such a strong presence this week,” noted Peach. “It’s important to continue that momentum going home.”
Now We Need Your Help!
Tell Congress we need common-sense regulations that allow local institutions like credit unions to make decisions that best suit their communities. Together, we can protect and enjoy the benefits of the #CUdifference!
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