|David Creager, Manager of Grassroots Advocacy for the California and Nevada Credit Union Leagues|
'DON'T TAX' CAMPAIGN: PUSH CONTINUES
updated 01/23/14 09:54 AM
February a Key Month to Reach Out
As credit unions enter 2014, one of last year’s primary challenges still remains. The threat of taxation, unfortunately, has not passed with the New Year.
Rather, key members of the House and Senate have renewed calls to pass comprehensive tax reform. We anticipate the first draft of a tax-reform package before spring of this year. While it is unlikely this package will pass in entirety during this calendar year, this legislation will become the starting point for future congressional efforts to reform the tax code. Negative outcomes for credit unions in this first series of tax bills will force credit unions into a long, drawn-out tax fight where defense will be our only legislative priority.
As long as the threat to the credit union tax status remains, so must our efforts to protect it. To that end, credit unions all across the country are being asked to re-engage their membership this year through the Don’t Tax My Credit Union campaign.
Last year was a successful year for the California and Nevada Credit Union Leagues’ grassroots program. Collectively, the Leagues’ member credit unions generated 285,000 contacts to Congress. Sixty-eight California and Nevada credit unions directly e-mailed their members asking them to visit Connect for the Cause and contact Congress.
Nationally, credit unions sent 1.25 million letters in support of the credit union tax status. This means California and Nevada credit unions accounted for about 23 percent of all letters sent to Congress in 2013. By any standard, that is a successful year.
This year, however, we must continue the fight—and hopefully finish the job.
Less than eight months ago when credit unions began the task of fighting for congressional support, the Leagues set a goal of generating 500,000 contacts to Congress. We must now reach that goal. Your help and engagement is needed. Credit unions that have reached out to their members should consider re-engaging their members, and every credit union who has not yet directly requested their member’s support should now do so.
In about a month, hundreds of credit union activists will descend upon Washington, D.C. for the Credit Union National Association’s Governmental Affairs Conference (GAC). Part of that event will be a massive lobbying effort capped off by hundreds of credit union activists “hiking the hill” and asking for Congress’s support face to face.
Therefore, this next month becomes extra important. If we flood Congress with letters, tweets, and phone calls, then our message will resonate even that much louder.
MCWATTERS DISSENTS ON BUDGET VOTE updated
11/22/14 06:37 AM
Also, Revised RBC Rule Coming
National Credit Union Administration (NCUA) Board Member J. “Mark” McWatters was the only one to vote “no” on the board’s 2015 proposed budget, which will increase 4.2 percent over last year. The vote was 2 to 1.
ANNUAL FED WEBINAR ON REGS, GUIDANCE updated
11/21/14 10:32 AM
Also, FinCEN Issues Advisories
Senior staff at the Federal Reserve will host an annual webinar to provide a recap of recent regulatory changes and highlight various inter-agency guidance. The webinar will also discuss current hot topics in the financial services industry and give a glimpse of future regulatory changes.
NEW EMPLOYMENT LAWS FOR 2015 updated
11/21/14 04:33 PM
Also, TIPs Bulletin Posted
The California Chamber of Commerce has released a list of new employment laws scheduled to take effect in 2015 or earlier that will have an impact on businesses in California.
DIANA DYKSTRA RECEIVES 'EAGLE AWARD' updated
11/20/14 10:41 AM
Outstanding Record of Achievement
Diana Dykstra, president and CEO of the California and Nevada Credit Union Leagues, was presented with the American Association of Credit Union Leagues’ highest honor—the Eagle Award—this week during AACUL’s winter meeting in Hawaii.