(please click ad for more information)

Current News

Relevant Information—For You, By You
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."

For assistance in implementing the Don't Tax My Credit Union campaign at your credit union, contact David Creager at DCreager@ccul.org or 916-798-3367.

                           
print   email   share   share   share
                         

'PROBLEM SOLVED' COLUMN HELPS CUs updated 04/14/14 04:30 PM
Latest in Credit Union Digest
Has your credit union taken advantage of the newest Credit Union Digest column—“Problem: Solved”?

CO-OP ANNOUNCES SHAREHOLDER DIVIDEND updated 04/14/14 01:37 PM
Patronage Pool of $30.5 Million
CO-OP Financial Services has announced a shareholder dividend pool of $30.5 million for 2013—a 17 percent increase from 2012. Since becoming a credit union-owned cooperative in 1996, CO-OP’s total shareholder patronage has been $284.8 million.

DBO REPS ADDRESS 'CUOLI' INVESTMENTS updated 04/14/14 01:05 PM
State CU Update Given
California Department of Business Oversight (DBO) Commissioner Jan Owen and Deputy Commissioner of Credit Unions Erick Orellana gave attendees an overview of the department during the California Credit Union League’s 2014 Government Relations Rally (GRR) last week in Sacramento and welcomed questions from attendees.

CONGRESSMEN CONCERNED OVER RBC RULES updated 04/09/14 01:18 PM
Questions Arise During Hearing
Reps. Ed Royce, R-CA, and Brad Sherman, D-CA, questioned National Credit Union Administration (NCUA) General Counsel Mike McKenna on the effectiveness of the NCUA's proposed risk-based capital rule during a House Financial Services Committee hearing last week.