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Governmental Affairs for Credit Union Members & Staff

Governmental Affairs for Credit Union Members & Staff . Or It’s not just up to the NCUA to insure the future of your credit union. Do you like to gamble? .

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Governmental Affairs for Credit Union Members & Staff

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  1. Governmental Affairs for Credit Union Members & Staff Or It’s not just up to the NCUA to insure the future of your credit union

  2. Do you like to gamble? • If you like to gamble, then sit back and don’t get involved in governmental affairs. Assume that state and federal legislators will know what is best for credit unions and will act accordingly.

  3. If you’d rather have a say in your future instead of just gambling … • then get involved with governmental affairs. You tell the lawmakers what your credit union needs in order to meet your needs, and the needs of the other member-owners.

  4. If you don’t tell lawmakers what credit unions need … • The bankers will. • Are you willing to gamble that the bankers have the interests of your credit union at heart?

  5. What American Banker Association officials say • They have announced a strategy to “constrain and convert” credit unions to banks.

  6. Example of issues facing credit unions • Credit unions are not-for-profit financial cooperatives that exist solely to serve the needs of their member-owners. They do not exist to create a profit for a group of outsiders. • Therefore, credit unions are tax exempt. • BUT …..

  7. Bankers tell Congress to take away the tax exemption • With no tax exemption, credit unions would be forced to become banks. There would be fewer consumer choices. You could not choose a financial institution that centers on you.

  8. Another issue: regulatory relief • Banks, which have changed over the years, tell Congress that credit unions should act as though it is still 1970.

  9. Without regulatory relief • credit unions will not be able to serve their members, and will become irrelevant.

  10. You can protect your credit union

  11. Grassroots Advocacy Donating to VACUPAC There are 2 ways to protect your credit union

  12. Grassroots Advocacy

  13. Donate to VACUPAC

  14. Make your voice heard! • Congressmen say they hear more from bankers than from credit union members.

  15. Banks $400,000 Credit unions $170,000 VA bankers v. credit union members donations to their PACs

  16. Who supports you? • The Virginia Credit Union League. • We can answer your questions and provide background information. • The League lobbies in Richmond and Washington, and offers networking opportunities with lawmakers.

  17. Who supports you? • The Credit Union National Association. • CUNA lobbies in Washington and has created the Little Guy to make sure Congress knows that credit unions look out for you, the Little Guy.

  18. Insure the future of your credit union Be a grassroots advocate Be a VACUPAC champion

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