Governmental Affairs for Credit Union Members & Staff

Or

It’s not just up to the NCUA to insure the future of your credit union

Do you like to gamble?

• If you like to gamble, then sit back and don’t get involved in governmental affairs. Assume that state and federal legislators will know what is best for credit unions and will act accordingly.

If you’d rather have a say in your future instead of just gambling …

• then get involved with governmental affairs. You tell the lawmakers what your credit union needs in order to meet your needs, and the needs of the other member-owners.

If you don’t tell lawmakers what credit unions need …

• The bankers will.

• Are you willing to gamble that the bankers have the interests of your credit union at heart?

What American Banker Association officials say

• They have announced a strategy to “constrain and convert” credit unions to banks.

Example of issues facing credit unions

• Credit unions are not-for-profit financial cooperatives that exist solely to serve the needs of their member-owners. They do not exist to create a profit for a group of outsiders.

• Therefore, credit unions are tax exempt.

• BUT …..

Bankers tell Congress to take away the tax exemption

• With no tax exemption, credit unions would be forced to become banks. There would be fewer consumer choices. You could not choose a financial institution that centers on you.

Another issue: regulatory relief

• Banks, which have changed over the years, tell Congress that credit unions should act as though it is still 1970.

Without regulatory relief

• credit unions will not be able to serve their members, and will become irrelevant.

You can protect your credit union

There are 2 ways to protect your credit union

• Grassroots Advocacy • Donating to VACUPAC

Grassroots Advocacy

1. Write to your state and federal lawmakers once a year.

2. Visit your state and federal lawmakers once a year.

3. Attend events that connect you with lawmakers

4. Volunteer on campaigns.

To find out who your lawmakers are, go to mycuisme.com

More information is at vacul.org.

Donate to VACUPAC

1. The Virginia Credit Union Political Action Committee

2. VACUPAC is a nonpartisan, voluntary PAC.

Donations are non-deductible

3. VACUPAC gives money to candidates who support credit unions

4. You can send a check to VACUPAC c/o the VA Credit Union League

5. Other options: payroll deduction program at your credit union

6. Or account deduction program through your credit union.

Make your voice heard!

• Congressmen say they hear more from bankers than from credit union members.

VA bankers v. credit union members donations to their PACs• Banks

• $400,000

• Credit unions

• $170,000

Who supports you?

• The Virginia Credit Union League.

• We can answer your questions and provide background information.

• The League lobbies in Richmond and Washington, and offers networking opportunities with lawmakers.

Who supports you?

• The Credit Union National Association.

• CUNA lobbies in Washington and has created the Little Guy to make sure Congress knows that credit unions look out for you, the Little Guy.

Insure the future of your credit union

Be a grassroots advocate

Be a VACUPAC champion