WASHINGTON–With the American Bankers Association (ABA) hosting its Washington Summit this week in the capital the Defense Credit Union Council (DCUC) has launched a digital ad campaign aimed at attendees.
Long-time critics of the credit union tax exemption, the banking industry is expected to again target that tax status in both their meetings with each other and on the Hill with members of Congress and their staff.
The DCUC ads take a slightly different tack than the messages often backed by CUs when opponents are in town by not directly targeting Congress, but instead those in town for the three-day ABA meeting.
DCUC said it designed the ad to specifically highlight how eliminating the credit union tax status would severely limit the ability of credit unions to meet the unique financial needs of the military community.
“From managing finances during deployments and frequent relocations to accessing fair loans, building financial literacy, and protecting against predatory practices, service members, veterans, and their families face distinct challenges that credit unions are uniquely positioned to address,” DCUC said in a statement.
The ads aren’t appearing in specific publications but are instead geo-fenced and appear on devices of people inside the convention center, the Marriott Marquis (hotel adjacent to convention center), House and Senate office buildings, and elsewhere.
‘The Hope’
Jason Stverak, chief advocacy officer with DCUC, said the digital ads are an effective way to target people at certain locations within the District of Columbia.
“Our hope is at the end of the day they are supportive of community financial institutions, whether it be small banks or credit unions, and that we can all come together on the fact that we need to support them as they in turn support our communities,” said Stverak. “”We’re going to leave no stone unturned, whether it is a member of Congress on their iPad, a (congressional) staffer on their iPhone or their Android, or an attendee as they’re landing at Reagan or Dulles or taking the train in. We’re going to reach out to them through digital advertising to help educate them and provide the full story on the impact of changing the credit union tax status.”
The ABA’s Washington Summit is being held at the Washington Convention Center, the same location as America’s Credit Unions’ GAC.
Hearings in Washington:
Two hearings that credit unions will be monitoring this week in the House Financial Services Committee:
- Today: U.S. Treasury Debt in the Monetary System
- Wednesday: American Innovation and the Future of Digital Assets Aligning the U.S. Securities Laws for the Digital Age
