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|Financial Horizons CU hosted an American Hero 5K at the Fallon Churchill Fire Department.|
|State Assemblyman Bob Wieckowski (front row, second from right), D-Fremont, with credit union representatives from Southern and Northern California in Sacramento during the California Credit Union League’s 2014 Government Relations Rally (GRR).|
Card security headlined the discussions between credit union leaders and lawmakers as concern over data breeches continues to grow. Also in focus was SB 1351—authored by State Sen. Jerry Hill, D-San Mateo—which touches on the 2015 Europay-Mastercard-Visa (EMV) chip deadline for card issuers and retailers.
Additionally, AB 1710 was discussed, which looks at notification, standards, reimbursement, and other provisions regarding protection of personal privacy. Other bills of interest included tax credits for 527 accounts, voided title/falsified documents, emailed local agency reports, billing inquiries, and California Department of Business Oversight (DBO) loan repayments.
“It’s important for the credit union industry to come together and be a stronger voice for consumers,” said Donna Bland, CEO of Golden 1 CU, after Tuesday morning’s legislative briefing. “I would hope that today’s issue regarding card security would be common ground for all financial institutions. It’s not a political issue—it’s about consumer protection.”
John Cassidy, CEO of Sierra Central CU, said GRR is indispensable to building relationships with state legislators. “If we don’t show up, we could face the unintended consequences of bad legislation,” he said. “Our capacity of communicating our message to legislators has never been better, but it needs to continue to grow. Engaging with lawmakers is the way to accomplish this.”
Participants were addressed the day before by Anthony Huey, president of Reputation Management Associates, who delivered a powerful presentation on how to effectively communicate and leave a lasting impression with state legislators and others.
Also, DBO Commissioner Jan Owen and Deputy Commissioner of Credit Unions Erick Orellana gave an insightful update on the financial health of state-licensed credit unions, and how the department is working with credit unions every day. State-licensed credit unions hold a little more risk than the average credit union in California, but they are “stable and strong,” and financial data keeps improving, Orellana said.
This year’s California Credit Union League PAC fundraiser raised $8,300 to support State Senator Anthony Cannella, R-Ceres, who was elected to office in 2010. In his address, Cannella touched on the political environment in Sacramento, as well as the state’s widespread water drought.