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The CUNA-League partnership was alive and well today in
Seattle as the National Conference of State Legislatures opened its exhibit
hall for the first time at this year’s legislative summit. Dozens of state lawmakers from across the
country visited the booth and met with credit union advocates. They learned about the credit union
difference, and in many cases, shared their own credit union story. The familiarity that lawmakers and staff have
with credit union and league officials “back home” came through crystal clear!
Outside the exhibit hall, committees and breakout sessions
convened. Of particular interest to
credit unions was the meeting of the Communications, Financial Services and
Interstate Commerce Committee which renewed the banking
and financial services policy directive.
This policy directive includes language supporting the dual chartering
of credit unions:
believes that state credit union supervisors have the primary responsibility
for assuring the safety and soundness of credit unions chartered by and
operating under state law and regulation. NCSL supports the authority of state
governments to determine how state financial institutions must be insured and
opposes any efforts by the federal government to preempt states’ authority to
govern state deposit insurance requirements. NCSL also acknowledges that states
have a responsibility to provide a credible regulatory environment where powers
can be exercised in a way that does not endanger the financial solvency of the
National Credit Union Share Insurance Fund (NCUSIF). NCSL additionally
acknowledges that federal deposit insurance agencies, like the National Credit
Union Administration (NCUA), have a legitimate role to play if state authorized
powers lead to unreasonable risks for NCUSIF. However, NCUA regulations and
policies should be crafted in a way that minimizes the preemption of state
authority. NCSL opposes any effort by the Administration and Congress to erode the
dual chartering system for credit unions by preempting state credit union laws
and regulations that do not adversely impact the financial well-being of state
chartered credit unions and thus the NCUSIF. Any preemption of state credit
union laws or regulatory authority must be justified only by a clear and
certain threat to the credit unions' share insurance fund by those credit
unions that are federally insured.
In addition to the booth and our work on ensuring credit
unions are appropriately represented in NCSL policy, the collaboration between
CUNA, the Leagues (lead by the host League, the Northwest Credit Union
Association), and CUNA Mutual has helped raise awareness of credit unions
through an ads at baggage claim at the Sea-Tac International Airport, placement
America’s Credit Unions logo on volunteer shirts and convention center escalators, and the sponsorship of free wifi
in the convention center.
Every person attending this conference and many travelers entering the area will have multiple exposure opportunities to the credit union message.
Champion for the Credit Union Movement
Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.
© 2017 Credit Union National Association
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© 2017 Credit Union National Association |
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