|David Creager, Manager of Grassroots Advocacy for the California and Nevada Credit Union Leagues|
MORE LETTERS TO CONGRESS NEEDED
updated 10/16/13 04:05 PM
Next Few Weeks are Crucial
With the nation's debt-ceiling fight and government shutdown hanging over Congress and the White House, a "grand bargain" could be one option in the works.
California and Nevada credit unions are being urged now, more than ever, to contact their members of Congress.
"We need to redouble our efforts and send tens of thousands of additional letters to Congress in the next few weeks," said David Creager, manager of grassroots advocacy for the California and Nevada Credit Union Leagues. "If you have not taken action, or if your efforts have not netted the response you expected, now is the time to reach out to your members."
So far, more than 1 million have been sent to Congress nationwide—225,000 of which are from California and Nevada. But many more are needed, Creager said.
The fiscal battle on Capitol Hill comes 15 years after the passage of H.R. 1151, a sweeping grassroots movement that taught credit unions a valuable lesson: A crisis can result in important consequences caused by sweeping federal legislation. Without a strong voice in the process of reform, credit unions stand to lose valuable ground.
"Undoubtedly, it's good if Congress and the president work toward fixing structural problems in funding and taxation," Creager said. "Now, however, we have the frightening task of ensuring the credit union tax status is not wiped out during a potential late-night tax reform bargain."
He noted a recent letter sent to House Speaker John Boehner by Senate Majority Leader Harry Reid that signaled "all options are on the table."
"Once the principle decision makers get into a room to negotiate, we will have very little voice in the process," Creager said. "To that end, both parties must be in the credit union corner before talks begin."
GAIN EXPERIENCE ON LEAGUE COMMITTEE updated
09/15/14 01:21 PM
Submit Committee Interest Questionnaire
Are you interested in serving a one-year appointment on a California Credit Union League committee?
LEAGUE ADVOCACY BLOG GAINS TRACTION updated
09/12/14 04:13 PM
Sign Up for Alerts
The new Advocacy Blog launched by the California and Nevada Credit Union Leagues in August is gaining steam as more credit union advocacy professionals and others in the industry continue signing up to receive e-mail alerts on important state and federal updates.
FOCUSED ON 'ONE TO ONE' RELATIONSHIP updated
09/12/14 02:01 PM
Printing Industries CU
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PENALTY POLICY: SMALL VS LARGE CUs updated
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Federal Reserve’s Impact
The Federal Reserve’s ultra-low interest rate policy created the desired impact when it was instituted in 2008. Short-term funding costs plunged for financial institutions, allowing them to cheaply fund higher-yielding assets and restore capital.