Waters Part of Key Committee Leaders Supportive of CUs

Key committee chairs and ranking members of the newly formed 118th Congress in Washington, D.C. are familiar faces to credit unions and their state leagues/associations, with Rep. Maxine Waters (D-CA) acting as ranking member of the House Financial Services Committee after serving as chair during the previous Congress.

“As a ranking member of the House Financial Services Committee and a strong advocate for credit unions and their members, Chairwoman Waters truly understands the unique importance of reaching the underserved and unbanked in local communities with trustworthy, member-owned financial service options,” said Diana Dykstra, president and CEO of the California and Nevada Credit Union Leagues.

Waters has proven to be a “friend of credit unions” and the California Credit Union League over several years, Dykstra noted. “We know she will leverage her proven track record of championing impactful legislation toward better financial wellbeing for the local households and consumers she serves.”

The congresswoman continues as a staunch ally of the credit union movement, as well as a huge supporter of the California League’s efforts to defend credit unions and the individuals they serve.

“Over the years, we’ve been impressed by Congresswoman Waters’ outreach to both the League and our member credit unions, and we want to thank her for her ongoing commitment and leadership in carrying the torch for local constituents, as well as credit union members in all types of communities nationwide,” Dykstra said. “The League applauds her efforts and successes, and we congratulate her on the continued work she is accomplishing at the local level to advance credit union priorities in this new Congress.”

Rep. Patrick McHenry (R-NC) is the new chair of the House Financial Services Committee, having served as ranking member in the 117th Congress.

Republicans will chair House committees as a result of taking the chamber in the mid-term elections, while Democrats will control the Senate 51-49.

Other committees:

• Senate Banking, Housing, and Urban Affairs Committee — Sen. Sherrod Brown (D-OH) will continue as chair and remains a strong credit union supporter. Sen. Tim Scott (R-SC) is the ranking member and a former credit union board member.
• Senate Finance Committee — This committee is chaired by Sen. Ron Wyden (D-OR), who chaired it during the last Congress. Sen. Mike Crapo (R-ID) is the ranking member and also has a close relationship with credit unions.
• House Ways and Means Committee — Rep. Jason Smith (R-MO) is the new chair of the House Ways and Means Committee. Rep. Richard Neal (D-MA) is a ranking member and a supporter of credit unions.
• House Appropriations Committee — Reps. Kay Granger (R-TX) and Tom Cole (R-OK) are, respectively, chair and vice chair and have been friends of credit unions.