WASHINGTON — The president and CEO of America’s Credit Unions said recent meetings across the country with credit union leaders have left him “invigorated,” even as he noted many of those leaders are feeling the pressures of running their credit unions.
Scott Simpson said he has spent the last week meeting with credit unions in all four continental U.S. time zones, including at league meetings, and said despite the travel, the meetings left him recharged.
“Just watching the industry come together in all the pockets of the country (has been) invigorating, to watch them do their work and to see needs and solutions come together,” Simpson said during a call with the media. “To see the zeal with which people lean into the cooperative financial business model is just invigorating. I think there are moments like these, where we have seasons of economic uncertainty, (that are) always an opportunity for credit unions and this model to shine.”
Feeling the Pressure
Asked by the CU Daily whether there were any common themes or issues raised by the CEOs with whom he has been meeting, Simpson responded, “I think the pressure of running depository financial institutions, highly regulated entities in our country. I think it’s just constantly a weight they carry regardless of the size of the institution. The specific worries of each credit union are unique and probably stratified based on the size of the organization, but the pressure is the same.
“You can see the load on all of them, and that load manifests itself in concerns about different aspects of that regulatory pressure,” Simpson continued. “There’s just this intense desire, I think more than anything, to see the regulatory space continue to be depoliticized.”
Yielding Fruit in Congress
Separately, Simpson said he has also held numerous recent meetings with members of Congress, including congressional leadership, during the last week.
“I continue to be impressed with the engagement that our team has and the depth of engagement our team has within Congress,” Simpson said, adding that the efforts have continuously yielded fruit for credit unions.
