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NAFCU touts CU difference on Capitol Hill
NAFCU’s award-winning advocacy team was on Capitol Hill Friday briefing legislative staff members on the credit union difference, including basics on structure, share insurance, regulatory oversight, industry priorities, and how credit unions are committed to serving their 135 million members.
NAFCU Senior Vice President of Government Affairs Greg Mesack, Vice President of Legislative Affairs Brad Thaler, Senior Director of Legislative Affairs Chad Adams, Senior Associate Director of Legislative Affairs Lewis Plush, and Senior Associate Director of Legislative Affairs Amber Milenkevich presented to dozens of staffers in the Rayburn House Building.
During the briefing, NAFCU detailed how the cooperative, non-profit structure of credit unions allows the industry to reinvest in its members and communities it serves, as well as the economic impact of the industry’s tax-exempt status.
In light of recent bank failures and turmoil in the financial system, the association touted credit unions as safe, secure, and reliable financial providers for Americans. As banks have closed more than 11,000 branches over the past decade, NAFCU highlighted how credit unions have stepped up to fill the voids and how allowing all credit unions to add underserved areas to their fields of membership would support consumers and Main Street small businesses.
NAFCU also shared legislative priorities for credit unions – including modernizing outdated requirements and reforming burdensome regulations that restrict industry growth – and the industry’s commitment to diversity, equity, and inclusion (DEI) efforts.
Learn more about the credit union difference and why credit unions are the best financial services providers for consumers. Credit unions are also encouraged to use NAFCU’s Grassroots Action Center to bolster the association’s advocacy efforts by contacting lawmakers and regulators directly on key issues.