CHICAGO–The Illinois Credit Union League (ICUL) and America’s Credit Unions placed an ad in a special edition of USA Today about the upcoming baseball season aimed at raising awareness about what the organizations say are the consequences of the state’s Interchange Fee Prohibition Act (IFPA) and “how credit unions are fighting to keep the payments system working for consumers.”
The ad specifically highlights how the law would make the “state’s payment system more complicated than the rest of the country,” the trade groups noted,
“When it comes to the systems that power your purchases, reliability and security matter. Illinois credit unions are fighting to protect the safe, easy payment experience consumers count on,” the ad states
The ad directs consumers to ICUL’s advocacy resources on the IFPA.
Appeal Underway
As the CU Daily has been reporting, America’s Credit Unions, ICUL, and other are appealing a recent court ruling that upheld the IFPA, which is set to go into effect July 1.
As the CU Daily also reported, the Electronic Payments Coalition said it is launching a multimillion-dollar advertising campaign urging Illinois lawmakers to repeal a new law that exempts state and local taxes and tips from credit card swipe fees.
Cornerstone League CUs Meet With HFSC Chair
Separately, in Little Rock, Ark., America’s Credit Unions and the Cornerstone Credit Union League reported they hosted House Financial Services Committee Chairman French Hill (R-AK) for a roundtable with Arkansas credit unions. The organizations said the focus was on how credit unions bring expanded access to affordable financial services.
“Credit unions are rooted in the communities they serve, and today’s conversation in Little Rock brought that impact to life,” ACU President and CEO Scott Simpson said in a statement. “We appreciate Chairman Hill taking the time to hear directly from members and see firsthand how credit unions are helping working families access affordable financial services. These conversations are critical as policymakers consider how to strengthen financial access and ensure consumers have the options they need to succeed.”
Simpson also emphasized the importance of ensuring credit unions can continue meeting the needs of their members through regulatory relief and modernization, noting that policymakers play a critical role in supporting community-based financial institutions in an evolving marketplace, according to the association.
Key Priorities Discussed
According to America’s Credit Unions, during the discussion, credit union leaders highlighted key priorities, including the need to combat fraud and scams, protect consumers’ sensitive data, and advance a comprehensive national data privacy and security framework. Participants also shared real-world stories illustrating the impact of these issues, including stopping scams before they happen, helping small businesses launch, and supporting families as they access affordable credit and plan for the future.
“On behalf of everyone at Cornerstone, I want to thank Rep. French Hill, chairman of the House Financial Services Committee, and Scott Simpson, president/CEO of America’s Credit Unions, for their leadership in advancing the credit union movement,” Caroline Willard, president & CEO of the Cornerstone League, said in a statement. “Roundtables like this are vital to bringing us together and ensuring our voice remains strong and united in Washington.
Added. Cara Tharp, executive director, Arkansas Credit Union Association, in a statement, “The Arkansas Credit Union Association was honored to welcome Chairman Hill to its Little Rock office, where he engaged directly with Arkansas credit unions, gaining firsthand insight into the meaningful work they are doing and the positive impact they continue to make throughout his district and across the state.”
The Invitation List
The trade groups said that among those invited to the event were Alcoa Community Federal Credit Union, Cotton Belt Credit Union, UP Federal Credit Union, Clearway Credit Union, TruService Community Federal Credit Union, Red River Credit Union, Arkansas Federal Credit Union, CommunityAmerica Credit Union, and Randolph-Brooks Federal Credit Union, with attendees ranging from CEOs and executive leadership to operations, lending, finance, compliance, and marketing professionals.
