Laying the groundwork for credit unions in the new administration, America’s Credit Unions President/CEO Jim Nussle shared ongoing priorities, concerns, and a call to protect the credit union tax status in a letter to President-Elect Donald Trump and his transition team.

“We look forward to working with you and your Administration once again to address these concerns for credit unions,” said Nussle. “We would welcome the opportunity to bring our industry’s leaders together to meet with you and your staff to discuss how credit unions can continue to enhance our nation’s economy.”

Nussle highlighted key advocacy priorities for credit unions, which is to:

• Protect:
  • The credit union tax status;
  • Credit unions from regulatory overreach from agencies such as the CFPB;
  • The ability of credit unions to charge reasonable fees for services;
  • The current interchange system; and 
  • Financial institutions from efforts to shift liability to them for the fraud of others.
• Empower:
  • Credit unions to have the ability to grow and serve their members;
  • The creation of national data security standards for financial data;
  • Credit unions with tools to protect their members from fraud; and
  • Credit unions to compete on a level playing field with unregulated financial services entities
• Advance:
  • The ability of credit unions to serve more members;
  • The ability of credit unions to meet the lending needs of consumers;
  • Investment options for credit unions; and 
  • Access to innovation and technology for credit unions.

Read the full letter here.