WASHINGTON–As destructive as has been the ongoing shutdown of the federal government has been for many, one credit union representative on the Hill believes there are some positives to be found in the compromise that has been passed in the Senate 60-40 to reopen the government.
Greg Mesack, senior VP-advocacy with America’s Credit Unions, called the package the Senate is advancing a “positive” for multiple reasons, including that an omnibus bill hasn’t been passed in a number of years and the legislation the Senate is debating includes funding for the military/military construction, the Department of Agriculture/FDA, and funding for the legislative branch, including certain Treasury staff involved in a program near-and-dear to credit unions.
‘Sweeteners’ Included
“There are a couple other sweeteners in there, as well,” said Mesack. “One notable one from the credit union perspective is that it would have a stipulation that all employees who were given reduction-in-force notices during the shutdown be brought back, so from our perspective that has a very positive impact on the CDFI fund staff.”
Mesack walked through all the steps that will now need to take place in the Senate and the House to get the continuing resolution and the three funding packages to the president for his signature, as the CU Daily also reports here with a detailed explanation of all that needs to happen now.
With the 60 votes pretty much a sure thing in the Senate, Mesack said he expects there will be some pushback in the House by Republicans who hold a slim majority, but ultimately it will be agreed to.
Groups Issue Statements
Meanwhile, the American Bankers Association, America’s Credit Unions, Association of Military Banks of America, Consumer Bankers Association, Defense Credit Union Council, Financial Services Forum, Mortgage Bankers Association and National Bankers Association issued a joint statement regarding the deal to bring the shutdown to an end.
The Joint Statement
“We welcome news of the bipartisan deal to reopen the government. The time has come to end the shutdown and the damage it’s doing to the U.S. economy and to communities,” the organizations said. “We urge lawmakers to support this agreement, bring the shutdown to an end and resolve their remaining policy differences with the government open and functioning.”
Statement from DCUC
“We are encouraged to see bipartisan cooperation to reopen the government and restore much-needed stability for our nation’s service members, federal employees, and their families,” DCUC President/CEO Anthony Hernandez said in a statement. “Credit unions serving the defense community stand ready to continue supporting their members as operations return to normal.”
Added DCUC Chief Advocacy Officer Jason Stverak, “This agreement is a vital step toward restoring confidence across the defense community. DCUC and its member credit unions remain committed to ensuring our military and their families have uninterrupted access to the financial support they depend on—no matter the challenges in Washington.”
America’s Credit Unions’ Statement
“We are encouraged by discussions that indicate a bipartisan agreement to reopen the government has been reached, and we urge Congress to swiftly pass the funding bill to restore stability across our country,” America’s Credit Unions’ President and CEO Scott Simpson said in a statement. “In what is now the longest shutdown in history, spanning seven weeks, millions of households have had to worry about how they will make ends meet. Throughout this shutdown, credit unions embodied their ‘people helping people’ mission to ensure those facing financial hardships had a trusted partner by their side, throwing out every lifeline available. It’s time to end the shutdown and put people first—the same way that credit unions do every day.”
