WASHINGTON–America’s Credit Unions has sent a letter to the Hill in which it outlines regulatory relief it is seeking, while also announcing a new Small Credit Union Advocacy Advisory Panel.
The trade group sent a letter to House Financial Services Committee Chairman French Hill (R-AR) and Ranking Member Maxine Waters (D-CA) outlining priorities ahead of the committee’s markup this week in which it urged additional regulatory relief to support credit unions and the communities they serve.
“First, we applaud the Committee’s focus on ensuring that communities across our nation have access to the financial services that they require to not just survive, but to thrive,” the letter states. “For too long, community financial institutions have been under a regulatory onslaught that has forced many to close and merge. Credit unions have felt this pain as much as community banks.”
‘Areas for Action’
America’s Credit Unions said it highlighted several areas for action, including:
- Expanding credit union access to Federal Home Loan Banks
- Extending loan maturity limits under the Federal Credit Union Act
- Modernizing investment authorities for federal credit unions
- Updating member business lending thresholds to reflect inflation and current economic conditions.
The letter also expressed support for multiple bills before the Committee addressing housing affordability, flood insurance stability, and regulatory efficiency.
Panelists Sought for new Small CU Panel
Separately, America’s Credit Unions said it has created a new Small Credit Union Advocacy Advisory Panel to “strengthen and coordinate advocacy on issues uniquely impacting small credit unions.”
According to America’s Credit Unions, the panel will bring together credit union leaders, leagues, and its own staff to “sharpen advocacy strategy, identify regulatory relief opportunities, and proactively engage policymakers on challenges facing small institutions.
“The initiative underscores the association’s commitment to ensuring credit unions of all sizes have a strong voice in policy discussions,” America’s Credit Unions said.
To apply, go here: Small Credit Union Advocacy Advisory Panel
