Reflecting on those who make our freedom possible

This weekend is an important opportunity to honor the men and women who sacrificed their lives in service to our country.

This weekend also marks the unofficial start to summer, and we have plenty of work to do in the final months of this Congress, as well as to ensure a credit union-friendly majority in the next one through November’s elections.

I hope you have a safe and happy Memorial Day weekend, and that you’ll take at least a moment to recharge and reflect on the freedoms we enjoy, and those who made them possible.

Credit unions win on House NDAA

Credit unions saw a win this week in continuing to ensure they can meet the needs of members on military bases, as the House Armed Services Committee advanced its FY2025 National Defense Authorization Act without any bank in-kind lease provisions.

Read more here

House passes CBDC legislation

The House passed an America’s Credit Unions-supported bill to prevent the Federal Reserve from issuing a central bank digital currency (CBDC). CBDC proponents make a lot of wonderful claims, but the truth is it also would bring privacy concerns and serious tradeoffs that could negatively impact credit unions and pose broader financial stability risks. This bill has a Senate companion, and we’ll continue to engage to move it forward.

Read our letter in support of the bill

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Joining a credit union helps communities

Thanks to America’s Credit Unions Chief Membership and Engagement Officer Anthony Demangone for his great perspective on the how and why behind the credit union difference for an article on Vox Creative. Anthony perfectly explained why the credit union mission and structure makes us fundamentally different than for-profit institutions, how credit unions are an integral part of their communities, and how credit unions partner with members on life’s big moments.

Read the article here

Relentless advocacy to advance, empower, and protect credit unions:

• I met with Federal Communications Commission Chairwoman Jessica Rosenworcel to discuss credit union priorities related to several actions, including our perspective on the revocation of consent rule.
• We wrote the Senate Homeland Security Permanent Subcommittee on Investigations that credit unions are concerned with any legislative proposals to expand financial institution liability under the Electronic Fund Transfer Act.
• Eighteen out of 19 candidates we supported in Georgia, Idaho, Kentucky, and Oregon primaries won their elections Tuesday.

CU Social Good launches new website

This week CU Social Good launched its new platform to showcase the impactful work credit unions do in their communities. The site is designed to capture, amplify, and analyze stories of credit unions making a difference, and can track and quantify these efforts to give our advocacy efforts more data. It’s also designed to be a collaborative hub for credit union leaders to share knowledge.

Check out the new CU Social Good website here

WCUC early bird savings end May 31

The World Credit Union Conference is rapidly approaching! Those planning to join America’s Credit Unions and the World Council of Credit Unions July 21-24 in Boston have until May 31 to save $200 with the promo code “wcuc2024” during checkout. This is the only global credit union conference geared towards credit union professionals, and it’s going to be an incredible event.

Register for the World Credit Union Conference here