Simpson: Credit unions transcend political ideologies

In a fireside chat to kick off this year’s Congressional Caucus Monday, incoming America’s Credit Unions President/CEO Scott Simpson shared how he plans to ensure cooperative finance survives and continues to thrive in America. Simpson, who begins his new role Nov. 3, spoke with current President/CEO Jim Nussle on the opportunities and challenges he sees ahead for credit unions.

“What’s great about credit unions is that it transcends political ideology. It genuinely does. Not every issue can do that, but the social mission, the heart is fantastic, but there's this kind of private sector business solution that you can deliver,” Simpson said. “I think one of the challenges we have as a national association, as a movement nationally, is we have to make sure that we're always in position to endure wherever that ideological pendulum swings.”

Simpson’s credit union career began in 2003 with Utah’s Credit Unions and he added on the role of president/CEO of California’s Credit Unions and Nevada’s Credit Unions last year. He anticipates leading the national efforts to protect, empower, and advance the credit union movement in partnership with leagues.

“We cannot afford to be anything but world-class advocacy professionals, linked arms, shoulder to shoulder, because we are wildly out-resourced,” he said. “The primary responsibility for us is to convene, to listen, and then go out and find a solution. Then we use our megaphone to scream that solution in state capitals and Washington, D.C. America’s Credit Unions and the state leagues are doing great work, and my responsibility is to ensure leagues hear and see and are empowered to take advantage of their opportunities.”

While banks and other credit union opponents will continue to attack, especially on the tax status, Simpson urged credit unions to make sure to always amplify the life-changing differences credit unions make.

“The work [credit unions] do every day changes the lives of people, and you know that. “We have to lean into that story, telling the humanity of what we do, because it’s absolutely true, as I’ve seen in my own life, and it transforms lives.”

Simpson said the brand equity that each credit union builds in their communities also has to endure, and advocates, state leagues, and America’s Credit Unions need to be ready at all times to amplify those stories and support policies that support them.

“We need to have a full understanding of how to unleash the 144 million American credit union members. It’s their undeniable will that they have access to cooperative finance in this country,” he said. “They've made the choice. They don't want that taken away.”