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News Now

Washington
CU reps swarm D.C. as 112th Congress begins
WASHINGTON (1/6/11)--As the 112th Congress officially kicked off on Wednesday, representatives from a dozen state credit union leagues, credit unions, and the Credit Union National Association (CUNA) swarmed the House and Senate to take the credit union message to over 100 new members of America’s top legislative body. Credit union representatives from as far away as California and as near as Maryland were greeted by CUNA President/CEO Bill Cheney at credit union house before moving on to their congressional visits.
Click for slide show At CUNA’s swearing-in day open house at Credit Union House on Jan. 5, CUNA President/CEO Bill Cheney greets Greg Connor, executive vice president of Associated CU, Norcross, Ga. Looking on are CUNA Vice President of League Relations Patricia Sowick, CUNA Senior Vice President of Legislative Affairs John Magill, and Georgia Credit Union Affiliates CEO Mike Mercer, who is also vice chairman of the CUNA board.
Representatives from Delaware, Florida, Georgia, Kentucky, Illinois, Missouri, North Carolina, New York, Ohio and Texas were also active at the Credit Union House, on Capitol Hill, and at various congressional receptions held throughout the day. In one congressional meeting, Illinois credit union representatives discussed interchange, supplemental capital and taxation with Sen. Mark Kirk’s (R-Ill.) staffers, noting that the proposed interchange fee carveout for credit unions under $10 billion in assets would likely be difficult to enforce. Leagues are also reaching out to the new congressional representatives via their own district and state-based activities, and will continue to do so in the coming weeks. As the new Congress heats up, the credit union tax exemption, supplemental capital, and the proposed member business lending cap lift will remain high priorities for CUNA. CUNA has also asked members of Congress to hold hearings on the Federal Reserve's recently proposed interchange fee regulations, and urged the Fed to delay implementation of the new rules until the Congress can complete a full discussion of the rules with all parties involved.


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