Assessing opportunities for credit union grassroots advocacy

Credit union and league leaders took part in the latest America’s Credit Unions’ Grassroots Committee at its meeting Thursday, discussing the latest legislative and regulatory developments and how credit unions can take advantage of advocacy priorities. The committee actively promotes involvement of credit unions and their members in grassroots efforts and advocacy engagement.

The group welcomed Chief Advocacy Officer Kathleen Coulombe, who introduced herself and thanked them for their work in support of credit unions’ powerful grassroots advocacy network.

The legislative team provided an update on budget reconciliation. Both the House and Senate have passed resolutions without any tax provisions. America’s Credit Unions, Leagues, and credit unions remain vigilant, should negotiations on additional reconciliation packages begin.

The group also heard an update on the latest challenges to the Illinois Interchange Fee Prohibition Act (IFPA), as the July 1 effective date approaches.

The Office of the Comptroller of the Currency confirmed federal law preempts the IFPA for banks and savings associations, and America’s Credit Unions continues to urge the NCUA to issue a similar rule covering credit unions.

America’s Credit Unions and the Illinois Credit Union League are actively involved with a legal challenge to the rule, with oral arguments schedule for May 13.

Looking ahead, the political affairs team noted that Congress is scheduled to be in recess for a week each in May, June, and July, plus the full months of August and October. Those recesses provide many opportunities for credit unions to engage with policymakers back home, especially when many of those officials will be out on the campaign trail looking to engage with constituents.

The group also discussed big-picture strategies, including grasstops versus grassroots engagement in future efforts.

America’s Credit Unions has resources available for members to assist them in engaging with legislators back home, including an in-district meeting checklist.