Increasing financial access for all

Continuing engagement brings results

All year, we’ve been working with Congress, the new administration, and NCUA to advance the priority we can all agree on: Increasing financial access and inclusion. For CUNA, the Leagues, and credit unions, this means advancing policies that promote financial well-being for all, while fighting policies we believe will create barriers.

Just in the last week: 

• NCUA finalized two rules we called on them to act on quickly: capitalization of interest and the CECL methodology; 
• The House followed the Senate in passing a resolution of disapproval for the Office of the Comptroller of the Currency’s “true lender” rule; and
• The House Financial Services Committee voted to advance a bill making permanent the NCUA Central Liquidity Facility flexibility put in place due to the pandemic.

This is the kind of movement we see when we stay engaged, back our credit union difference stories with data, and make it clear credit unions are a ready-made solution to increase financial inclusion.

I hope you’ll help us continue this momentum to get policies across the finish line to improve the financial well-being for all whom we serve.

CUNA’s Trey Hawkins on PAC podcast

Our Deputy Chief Advocacy Officer for Political Action Trey Hawkins appears on the Facts About PACs podcast to discuss why CUNA and the Leagues have one of the most dynamic political advocacy programs around. Trey provides some great insights on our political advocacy, what sets us apart from other PACs, and how we’re preparing for the next election cycle.

Listen to the podcast here >

Amplifying the credit union difference

The Illinois Credit Union System is calling on the credit union industry to share the best things about the credit union experience by using the hashtag #ILoveMyCreditUnion on July 30. Tom Kane, president/CEO of the Illinois Credit Union League, describes this “social media blitz” as “a big idea with the potential to leave a giant-sized digital footprint for the credit union movement.”

Read about #ilovemycreditunion here >

CEO-only virtual series provides actionable insights

Attention all CEOs: Please join the upcoming virtual series Through the Leadership Lens, presented by CUNA CEO Council. It consists of five one-hour sessions and was designed specifically for you. I encourage you to reserve your seat, so you can pick up different insights from thought leaders within and outside our industry. The first session starts June 30 with leadership expert and top executive coach John Mattone. Thanks to our friends at CUNA Mutual Group for sponsoring the series.

Register now >

DEs complete annual Day of Service

Thanks to Credit Union Development Educators from 12 states who participated in the 6th annual DE Day of Service this month. Each year, credit union leaders who graduated from the National Credit Union Foundation’s DE Program work to make an impact in their communities. This year’s activities included stocking food and supply pantries, mentoring students who experienced setbacks during the pandemic, volunteering at local nonprofits, and more.

Read about the DE Day of Service activities >

CUNA Senior Economist talks to Wall Street Journal

CUNA Senior Economist Jordan van Rijn spoke to Wall Street Journal on how the overall unemployment claims trend is in the right direction, because “there’s a lot of demand for labor out there.”

Read the article here >

360-degree advocacy

• The Fed agreed to extend the comment deadline for its debit routing requirements proposal, which we asked for earlier this month. 
• We strongly supported proposed funding amounts for Treasury’s CDFI Fund and NCUA’s Community Development Revolving Loan Fund. 
• We were disappointed in the Supreme Court’s ruling that the FHFA director can be removed by a president at will. Upon the court’s ruling, President Biden removed Director Mark Calabria and named Sandra L. Thompson as acting director of the agency.