WASHINGTON–Credit union representatives in attendance at America’s Credit Unions Congressional Caucus had a chance to hear from the trade group’s incoming CEO while also sharing lessons learned from the recent “Don’t Tax My Credit Union” campaign, among other issues discussed.
In conjunction with the meeting, two representatives from America’s Credit Unions also met with Treasury as The Caucus meeting was the first time many people had a chance to meet with and hear from incoming America’s Credit Unions’ president and CEO Scott Simpson, who participated in what the trade group called a “fireside chat” with its current leader, Jim Nussle.
Editor’s Note: The quoted comments below were provided courtesy America’s Credit Unions.
“What’s great about credit unions is that it transcends political ideology. It genuinely does,” Simpson said. “Not every issue can do that, but the social mission, the heart is fantastic, but there’s this kind of private sector business solution that you can deliver. I think one of the challenges we have as a national association, as a movement nationally, is we have to make sure that we’re always in position to endure wherever that ideological pendulum swings.”
Need for ‘Linked Arms’
In response to a question related to how he will lead national efforts to “protect, empower, and advance” credit unions, Simpson replied, “We cannot afford to be anything but world-class advocacy professionals, linked arms, shoulder to shoulder, because we are wildly out-resourced. The primary responsibility for us is to convene, to listen, and then go out and find a solution.
“Then we use our megaphone to scream that solution in state capitals, and Washington, D.C, America’s Credit Unions and the state leagues are doing great work, and my responsibility is to ensure leagues hear and see and are empowered to take advantage of their opportunities,” added Simpson, who currently leads credit union associations representing Utah, California and Nevada.
When it comes to amplifying the differences credit unions make in a landscape in which the banking industry is frequently on the attack in Washington, Simpson told the meeting, “The work [credit unions] do every day changes the lives of people, and you know that. We have to lean into that story, telling the humanity of what we do, because it’s absolutely true, as I’ve seen in my own life, and it transforms lives.
“We need to have a full understanding of how to unleash the 144 million American credit union members. It’s their undeniable will that they have access to cooperative finance in this country,” he continued. “They’ve made the choice. They don’t want that taken away.”
Session on Grassroots Advocacy
During a session grassroots advocacy during Caucus, two people shared some strategies.
“You don’t start a culture of advocacy when you’re getting ready to go to war,” said Amy Brodersen, president/CEO of Family Focus Federal Credit Union in Omaha. “You do it well ahead in time in starting to plant those seeds, and it’s very important to start from the top down. Get your board members involved, your team involved, and you explain to them the importance of advocacy. The why behind it is really important, in today’s world, we forget to explain to people why they’re doing things, and to get buy in, you have to be able to tell them why. My team in particular gets it, because we talk about it. It’s in our culture, it’s in our staff, in our shop all the time.”
Added Brent Tercero, executive director of credit union advocacy at SchoolsFirst FCU in California, added, “If you’re just starting off in the grassroots world, finding small wins like inviting an elected official to a toy drive or whatever it is, finding small wins to demonstrate to your team the importance and power of grassroots, advocacy, and grassroots, organizing, that’s what gets people excited. In organizing, there’s this saying, how do you eat an elephant? One bite at a time.”
Reminding People What’s at Stake
Reflecting on Americas Credit Unions “Don’t Tax My Credit Union” campaign earlier this year, April Mobley, Texas Grassroots and PAC Director for the Cornerstone League, urged credit unions to remind their members are aware of the stakes.
“From the Don’t Tax campaign, to the next state legislative session, every voice matters, whether it’s an action alert response, whether it’s a phone call to that elected official’s office, whether it’s a comment call for a regulatory issue, every voice matters,” Mobley said.
Added Utah’s Credit Unions president and chief advocacy officer, Rusty Cannon, “Any time we can get good facts in front of our elected officials is very much appreciated. We start from very early on in the relationship with all of our elected officials, getting them the types of stories, the types of numbers, because they make an impact in an important way.”
Meeting With Treasury
In conjunction with Congressional Caucus, Nussle, along with ACU’s head of regulatory advocacy, James Akin, participated in a roundtable discussion at Treasury on GSE reform during which they urged Treasury to:
- Keep a true level playing field for every lender
- Keep mortgage costs steady and predictable for families.
- Ensure FHFA maintains its role as a strong independent regulator, with full oversight and approval of operations, capital requirements, and prudential standards.
America’s Credit Unions said Nussle and Akin specifically mentioned several recommendations, including:
- Maintaining small‑lender “cash window” parity
- Cap guarantee‑fee (g‑fee) increases used to build capital
- Preserve the Uniform Mortgage‑Backed Security (UMBS)
- Create a permanent Small‑Lender Advisory Council
On Tap Today
Scheduled to address Congressional Caucus today are:
- America’s CUs Chief Economist Curt Long
- Rep. Sean Casten
- House Small Business Committee Chairman Roger Williams
- Rep. Bryan Steil
- Rep. Janelle Bynum
- House Majority Leader Steve Scalise
- Rep. Andy Barr
