Cooperative advocacy efforts clear CRA from housing bill

Community Reinvestment Act (CRA) requirements for credit unions were not included in the housing bill introduced by Sen. Elizabeth Warren, D-Mass., on Monday.

It is a testament to our cooperative advocacy efforts, as America’s Credit Unions, Leagues (especially the Cooperative Credit Union Association), and credit unions worked with Sen. Warren and other sponsors of the bill to demonstrate that applying CRA requirements to credit unions would create massive burdens and no benefits to the people the bill aims to help.

Credit unions’ reputation as consumer protectors—along with the unified voice of America’s Credit Unions, Leagues, and credit unions—clearly shows that increasing access to credit unions is the best way to increase financial inclusion.

Policymakers might not agree on much these days, but increasing financial inclusion is a bipartisan priority, and one that credit unions are positioned to move forward.

While there are other concerning elements in the bill, it is unlikely to pass in the final months of this Congress. That is a win for relentless credit union advocacy that continues to demonstrate the life-changing power of the credit union difference.

Read more here

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Don’t miss my fireside chat this September

Paul Ryan, former Speaker of the U.S. House of Representatives (2015-2019), will deliver keynote remarks at the upcoming America's Credit Unions Congressional Caucus. I’ll join him in a fireside chat, where we will delve into the critical relationship between federal policies and the credit union industry, providing invaluable insights for all attendees.?

Congressional Caucus has a robust speaker line-up with officials from both parties and all across government. Be on the lookout for additional announcements in August.

Save your seat

Credit union advocacy must remain constant through change

We are making our voices heard loud and clear, with credit union leaders testifying on behalf of America’s Credit Unions in four different hearings since March. I wrote in CUInsight this week how important it is for credit union advocacy to remain constant in the midst of both expected and unexpected shifts. Control of the White House and Congress will always change, but credit union advocacy is about laying strong foundations to give credit unions and members the stability they need.

Read the op-ed here

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Economic forecast for credit unions

Our latest Economic Forecast has Chief Economist Mike Schenk sharing the economic trajectory and what that means for credit unions as we look ahead.

Watch the latest Economic Update video

This week in advocacy:

• Make plans to meet with lawmakers in-district as the House and Senate head back home for the August recess, with some meetings already underway.
• Primary wins for credit union-supported candidates as elections took place this week in Arizona and Tennessee.
• We weighed in with the CFPB’s use of an interpretive rule rather than a proposed rulemaking in dealing with Buy Now, Pay Later lending.

Credit union museum names 2024 ‘Herstory’ inductees

Congratulations to the 2024 inductees into the America’s Credit Union Museum’s “Herstory” exhibit honoring credit union women that make history. Golden 1 Credit Union’s Donna Bland, GECU’s Crystal Long, Orange County’s Credit Union’s Judy McCartney, Community Financial Credit Union’s Tansley Stearns, Northeast Family Federal Credit Union’s Joanne Todd, Travis Credit Union’s Patsy Van Ouwerkerk, and Cornerstone League’s Caroline Willard are this year’s inductees. The annual induction ceremony takes place Sept. 26.

Learn more about Herstory here