Hunt: Fight for credit union difference, stay true to mission

Credit unions can follow their mission while advocating for the ability to do more, America’s Credit Unions Chief Advocacy Officer Carrie Hunt told Governmental Affairs Conference attendees Monday.

“We can embrace that change but still stay true to what it means to be a credit union. We will fight for our tax exemption, we will fight against overregulation, we will fight for new investment authorities, we will fight for the credit union difference,” she said. “When you are on the hill this week we need to ask our members of Congress to Protect the credit union tax status, and to support new opportunities for credit unions to serve people and businesses in your communities,” she added.

Echoing the comments from President/CEO Jim Nussle from his earlier remarks, she urged credit unions when meeting with policymakers “you must tell them that a new tax on credit unions is a tax on 140 million credit union members nationwide. Those are the people who vote for that member of Congress.”

The CFPB was a major focus of her address, and she shared several principles credit unions hope to see with the bureau in the new administration.

“America’s Credit Unions strongly recommends that the Bureau avoid unnecessary regulation of credit unions and instead concentrate on addressing genuine threats to consumers and the financial system,” she said.

She also detailed what recent executive orders mean for credit unions and rulemaking in the future, including at the NCUA.

“Insulation from political swings is what makes the bipartisan board structure a desirable one, and with the additional layer of review from the White House, we may only see gridlock,” she said.

Hunt also reminded credit unions they have the stories and legacy of community service to make a difference with lawmakers.

“We have a great advocacy team who work for you every day and can help you set up a grassroots program in your credit union. We are dwokring ot change the dialogue in the digital and social media space. We are fighting against banks with data, and we are rallying our supporters,” she said. “But it will be you and your members that make the difference in ensuring our tax status does not change.”

She encouraged everyone in attendance to take advantage of America’s Credit Unions Grassroots Action Center, and announced the Franklin D. Roosevelt Award – a recognition named after the president who signed the Federal Credit Union Act in 1934. It will annually recognize the grassroots achievements of a credit union advocate.

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