Removing Barriers Blog

CUNA Touts Credit Union Jobs at the Department of Labor
Posted December 03, 2018 by CUNA Advocacy

Today, CUNA staff met with leadership at the U.S. Department of Labor (DOL or the Department) to discuss credit unions’ impact on the American labor market, the Department’s latest jobs initiatives, and rulemakings effecting credit unions. 

Among the topics discussed included association health and retirement plans, the Department’s Office of Compliance Initiatives, the DOL Hire Vets Program, and the DOL Apprenticeship Task Force.  CUNA also raised credit union concerns with rulemakings issued by the Department, including the Overtime Rule.

CUNA provided the DOL with data that estimates the credit union sector supports nearly 900,000 jobs nationally.  In total, credit unions report 295,000 full-time equivalent employees at the end of 2017 and credit union activity in the marketplace accounts for 588,000 indirect and induced jobs – with aggregate employment attributed to activity in this sector totaling 880,000.