Building on our advocacy momentum

It’s been a few weeks since our virtual 2021 CUNA GAC, and our advocacy efforts are already gaining momentum thanks to your hard work. Leagues and credit unions continue to meet with legislators on important priorities and, even with the latest round of COVID relief, we plan to ramp up our efforts.

We’ve seen some great results, with bills introduced that would: 

• Exempt member business loans during and after the national emergency; 
• Raise federal credit union loan maturity limits; and 
• Protect financial institutions that serve legal cannabis businesses. 

We’re still pushing for Congress to allow NCUA to provide prompt corrective action flexibility, as well as allow federal credit unions to include underserved areas in their fields of membership. 

Our members - and future members - are counting on us to get this work done. Thanks for being a part of our efforts. 

CO-OP Financial Services driving viewers to credit union locator

CO-OP Financial Services, a CUNA Elite Associate Business Member, will be featured on the #14 Ford Mustang driven by Chase Briscoe of Stewart-Haas Racing at this Sunday’s NASCAR race. When viewers go to coop.org, it’ll drive race fans to the Your Money Further credit union locator!

NWCUA, MWCUA partner for cannabis legislation panel

A major shout-out to the Northwest Credit Union Association and the Mountain West Credit Union Association for partnering on a first-of-its-kind legislative panel on cannabis banking. Reps. Ed Perlmutter (D-Colo.) and Earl Blumenauer (D-Ore.), along with staff from the office of Sen. Ron Wyden (D-Ore.) discussed the challenges that come with serving the cannabis industry and provided a legislative update. 

Foundation launches national Biz Kid$ showcase

The National Credit Union Foundation launched the first-ever national Biz Kid$ Showcase on March 15. Biz Kid$ is a credit union-funded and branded financial education program for young adults, championed by the National Credit Union Foundation. Biz Kid$ gives students the opportunity to invest in their financial futures through lessons on entrepreneurship, managing finances, and more.

Newest associate business members announced

I’m very pleased to announce that Credit Union Loan Source & VisiFI have joined CUNA as associate business members. The combined power of CUNA, Leagues, our member credit unions, associate business members and more than 120 million credit union members form an unequaled advocacy network. Our united efforts enable credit unions to achieve their goals and, ultimately, empower industry growth. 

Learn more about membership >

Filene launches credit union DEI survey

Filene is launching a survey to gauge credit union diversity, equity and inclusion (DEI) policies and practices. According to Filene’s previous findings, it’s not enough to “have diversity.” Credit unions need to have practices in place to help effectively leverage their DEI efforts in a way that will “fulfill [their] organizational missions and achieve business goals.” The survey will provide industry-wide data regarding the reach and extent of DEI activities across the movement. 

Take the Filene survey >

Exam priorities addressed in webinar

As you prepare for this year’s exam, the CUNA compliance team is standing by to support you. Several of our compliance attorneys will cover NCUA’s exam priorities for 2021 in the March 24 webinar “Navigating Supervisory Expectations.” 

Register for the webinar >

More from 360-degree advocacy

• A bipartisan group of lawmakers reintroduced the CUNA/League-backed Secure and Fair Enforcement (SAFE) Banking Act, which would provide protections for financial institutions serving cannabis-based businesses where it is legal.
• NCUA adopted an interim final rule providing flexibility related to the CLF as well as an interim final rule providing asset threshold-related relief to large credit unions, both of which we encouraged the agency to pursue. NCUA also announced a $368.7 million distribution related to the corporate resolution program. 
• We joined several organizations to issue a statement regarding the delayed availability of funds from economic impact payments to consumers. 
• We wrote to the Senate Committee on Banking, Housing, and Urban Affairs that expanded field of membership and supporting Community Development Financial Institutions that would support credit unions’ efforts to encourage homeownership. 
• We told the Senate Small Business Committee that member business lending cap flexibility could get $5 billion in capital to small businesses without using any additional government funds.