WASHINGTON (1/12/09)—Protecting the federal credit union tax exemption and preserving an independent federal credit union regulator and insurance fund, as well as the dual chartering system, are top among the Credit Union National Association’s (CUNA) action priorities this year. According to CUNA President and CEO Dan Mica, the watchwords for the association and the credit union movement in 2009 will be “agile and nimble.” “In fact, our emphasis on being ‘agile and nimble’ in dealing with the multitude of issues this year is reflected in the priority list itself, as the ‘+1,’” Mica added. “Seen from our vantage point, we believe it is vital for CUNA and credit unions to be ready to pivot readily-- from taking advantage of opportunities, to dealing with challenges, and back again – as occasions arise.” Also on the 2009 CUNA priority list:
* Expand ability of credit unions to provide business loans to members (and position credit unions as ready and willing to help the nation’s economic recovery); * Obtain more flexibility for credit unions in accumulating capital, in support of safety and soundness and continued growth of the movement; * Emphasize credit unions’ role as the solution to the financial crisis (not the source of the problems); * Restore the ability of single common bond credit unions and community chartered credit unions to add underserved areas to their fields of membership (FOM); * Ensure appropriate credit union access to “economic relief” programs; * Ease the regulatory and compliance burdens on credit unions; and * Sustain credit union access to products/services that best serve their members.
Rounding out the priority list in ‘09 is the “+1’: Being nimble and agile in dealing with opportunities and threats as they develop for credit unions.