Turning the credit union difference into our opportunity

CUNA and Leagues continue to get the word out about credit union safety and soundness. We’ve reached out to members of Congress highlighting the ways credit unions are a stable, necessary, and popular choice for consumers.

Leagues have created opportunities to keep consumers informed about what makes us different, especially from the banks that have recently collapsed.?

As policymakers examine the bank collapses, our opportunity is to show how pro-credit union policies are part of a healthy, diverse, financial services marketplace.

We’ll be fully engaged next week as both the Senate Banking, Housing, and Urban Affairs Committee and the House Financial Services Committee will conduct hearings on the failures.

We also ask credit unions to remain connected with legislators over the upcoming recess. This is a chance to show them firsthand the great work you do for your members, who are also their constituents.

Leaders respond to bank collapses

Celebrating Associate Business Members

This year marks five years of our Associate Business Membership program. Since its inception 70 organizations have joined, raising $2.8 million to support our advocacy efforts. Their commitment is making a meaningful impact?as we work collaboratively to further credit union priorities. Thank you to all who have joined.

Read about the program here

‘Mascot Madness’ voting underway

Credit Union Magazine launched its first-ever Mascot Madness bracket, a group of 16 credit union mascots that will compete over the next few weeks. The mascots will be split into four-team regions, and the second regional winner will be announced today. The championship round will take place April 4-6.

Learn more here

New Hampshire credit unions raise Make A Wish funds

Kudos to New Hampshire credit unions for participating in a Radiothon this week to benefit the Make-A-Wish Foundation. Credit union leaders joined Gov. Chris Sununu, wish children and grantors, and physicians for 18 hours of radio on WGIR-AM 610, and helped spread the word via a social media campaign to reach a wider audience. The group raised $40,578, far surpassing its goal of $25,000!?

Read about the Radiothon here

Supporting credit union priorities in FY24

Congress is starting the appropriations process for FY24, and we engaged with subcommittees in both chambers this week in strong support of appropriate funding levels for several priorities, including the Community Development Financial Institutions Fund.

Read our budget priorities here

More from 360-degree advocacy

• CUNA and the Cornerstone League support legislation from Rep. French Hill, R-Ark., that would require the Consumer Financial Protection Bureau to establish an appropriate compliance timeline for its section 1071 rulemaking related to the collection of small business lending data.
• The Federal Reserve increased the federal funds rate this week despite the recent bank collapses, showing it believes consumer demand is too strong to bring inflation down to the Fed’s target.
• The Federal Reserve will launch its 24x7x365 instant payments service, FedNow, with formal certification of participants starting in April.??
• NCUA released its 2022 Annual Report, highlighting its activities, policy initiatives, and accomplishments from the last year.
• CUNA Deputy Chief Advocacy Officer Jason Stverak wrote to all 535 members of Congress that the credit union difference helps their constituents.?