|L-R: Rep. Scott Peters, D-CA; and Rep. John Campbell, R-CA|
CAPITOL HILL UPDATE ON CA, NV CUs
updated 07/01/13 07:48 AM
Movement Begins a Marathon
From taxes to nominations and everything in between, there’s been a high level of credit union activity on Capitol Hill over the past week. Members of Congress are working this week in their districts through the July 4 holiday and will return to Washington, D.C. next week for a sprint to the August recess.
The following is a sample of some of the top issues affecting credit unions that the California and Nevada Credit Union Leagues are following:
The chairman and ranking member of the Senate Finance Committee released the committee's plan to begin an overhaul of the tax code (Click here for more details within a special message last week from Leagues President and CEO Diana Dykstra). This comes as no surprise to credit unions, which have been gearing up for this battle with the Don't Tax My Credit Union campaign.
Despite what many have said, credit unions must treat this as a true threat. All competing interests (not just banks) will be asking members of Congress to engage on their behalf. This process will run through the beginning of August and possibly beyond.
New MBL Co-Sponsor
Regulatory relief remains at the top of credit unions' agenda. Credit unions can push Congress to enhance the credit union charter while defending the movement's tax status at the same time. (Members of Congress support credit unions by co-sponsoring legislation to strengthen the credit union charter).
From Nevada, all four of the House delegation are co-sponsors of H.R.688, which raises the member business lending cap.
From California, the 34th co-sponsor (out of 53) joined the bill this week. Rep. Scott Peters, D-CA (San Diego), is the latest to join 106 other members of Congress. The Leagues and credit unions thank him and his other colleagues for their support.
The House Financial Services Committee has been developing a regulatory relief package, which remains under construction. It's likely a hearing will be held in the summer or fall months to assemble a package. Continuing to gain co-sponsors for these credit union bills is the best way to ensure they are included in this package.
The nomination of Richard Metsger to be the next board member of the National Credit Union Administration (NCUA) was considered in the Senate Banking Committee. Credit unions should expect the committee to pass Metsger’s nomination sometime in July.
Longtime CU Friend Retires
Rep. John Campbell, R-CA (Orange County), announced last week he will retire at the end of this congressional session. Campbell has been a strong advocate for credit unions on the House Financial Services Committee during his service.
Congress returns next week in a marathon session leading up to the August recess. During the month of August, members of Congress will be at home in their districts, where the Leagues will be encouraging all to participate in district meetings.
When Congress returns in September, the Leagues will welcome member credit union representatives to join the Leagues in Washington, D.C. on Sept. 9-11 for a "Hike the Hill" gathering. This will be an opportunity to talk to Congress directly about the credit union movement's tax status, regulatory relief measures, and the future of the credit union movement.
STATE CANDIDATE VISITS CU LEADERS updated
07/29/14 11:06 AM
Bates Engages With CEOs, Staff
Credit union leaders in Orange County gathered at Eagle Community CU last week to meet with Fifth District County Supervisor Pat Bates.
WCMS HONORS 2014 GRADUATING CLASS updated
07/29/14 09:58 AM
Weidler Receives 'Highest Honors'
Nearly 90 students from the “Mu” Class proudly received their Western CUNA Management School (WCMS) diplomas last Thursday night at Pomona College in Claremont, CA, where a lively audience cheered another successful send-off of credit union leaders who are devoted to keeping the credit union philosophy alive.
NATIONAL REG ADVOCACY TOOL LAUNCHED updated
07/25/14 01:55 PM
'PowerComment' Combats Burdens
PowerComment, a highly-interactive online resource that helps credit unions take their regulatory concerns directly to regulators, was officially announced today during the summer American Association of Credit Union Leagues (AACUL) meeting.
CELEBRATE 100 MILLION MEMBERSHIPS updated
07/24/14 03:42 PM
National Awareness Campaign
The credit union movement is on pace to reach 100 million memberships this summer. To commemorate this milestone, the Credit Union National Association (CUNA) launched the “100 Million Memberships” campaign, and invites all credit unions to participate.