by Jeff Olson, DakCU President/CEO
I hear it all the time: “I’m not interested in politics.” Well, they might as well say, I’m not interested in my standard of living, my future, or any future for that matter. For credit unions, politics determines who has control over our industry, how we serve our members, and even who we can serve. Therefore, we all must be interested in the political process.
For the first time in more than 40 years, North Dakota state chartered credit unions have an opportunity to revise and modernize North Dakota Century Code on our field of membership (FOM) powers.
All politics are local, and the purpose of Credit Union Day is to get credit union leaders to the State Capitol in Bismarck to visit with our House members about SB 2266.
This bill will allow North Dakota credit unions similarity with federally chartered credit unions in many areas, such as allowing an individual to join a credit union if they work, or attend school in the FOM, instead of being limited to “residing” as is the current statute. Additionally, we are looking to expand our FOM radius for our more rural credit unions to expand and diversify their FOM to address safety and soundness issues. The proposed FOM language will allow North Dakota credit unions to keep pace with any large federally chartered credit unions that expand into our marketplace.
Legislative and regulatory advocacy is at the heart of DakCU’s purpose and is underlined as our top priority each year. It is our belief that over time, protecting and enhancing the operating environment for our credit unions will be our greatest contribution to industry sustainability and continued credit union growth and relevancy. Our approach is mainly about changing the conversation and defining the debate on our terms. We know that decisions are going to be made by legislative leaders and policy makers that will have an impact on our credit unions, so, the question is, do we want to have a voice in that decision making process?
If we as a movement are not advocating for our position, for our membership, for our institutions in this process, someone else will with or without our input.
What you need to do:
Plan a trip to Bismarck – Legislators generally arrive at the Capitol around 7:30 a.m. The best times to meet with legislators are between 7:30 – 9 a.m.; 11:30 – 1:00 p.m.; and after 2:00 p.m. when the floor sessions end. You can visit with them in the chamber, in the hall between the chambers, and in the cafeteria.
Specific steps to take:
Great organizations can do remarkable things if everyone can collectively pull together as one unit. As a collaborative group, working together, we can solve complex problems and accomplish remarkable things!
Don’t hesitate to contact me or Jay Kruse with any questions.
The Memo is DakCU's newsletter that keeps
Want the Memo delivered straight to your inbox?