by John Alexander, Director of Legislative & Regulatory Affairs A historic “Hike the Hill” – Dakota delegation's unwavering voice in Washington. Amidst a flurry of anticipation and resolve, the Dakotas’ delegation journeyed to Washington, D.C., not merely to participate but to shape the discourse at the Governmental Affairs Conference (GAC)—now marked in the annals as the largest to date. This wasn't just a show of numbers; it was a clarion call for advocacy, led by 30 steadfast members united under the banner of credit unions' enduring mission: to serve their communities with unwavering dedication and financial integrity. Our collective voice, strong and clear, resonated in the corridors of power, advocating for pivotal legislative changes that promise to redefine the future of financial services. Our mission was grounded in the credit union movement's core principles: community, cooperation, and an unshakeable commitment to our members' financial well-being.  The delegation's schedule was packed with strategic engagements, including critical discussions with Congressman Armstrong's office, Senator Cramer's Legislative Director Mary Silverthorn, and an impactful meeting with Senator Hoeven's team. Our message was unequivocal: we stand firmly against any policy or regulatory changes that could potentially destabilize the credit union ecosystem in the Dakotas and elsewhere. At the forefront of our advocacy was the opposition to proposed amendments to Regulation II, concerning the assessment of debit card interchange fees. We understood the gravity of these changes and their potential repercussions on credit unions and their members across the Dakotas. Armed with data and determination, we made our stance known, advocating for an interchange fee structure that is both equitable and reflective of actual costs—ensuring that neither our members' interests nor the operational integrity of credit unions are compromised. Our delegation also championed the Homebuyers Privacy Protection Act, reinforcing our commitment to safeguarding our members' privacy and financial health. We emphasized the importance of protective measures in the homebuying process, underscoring our dedication to the values of trust and security that underpin the credit union movement.  Our advocacy extended to calling for enhanced congressional oversight of the Consumer Financial Protection Bureau (CFPB), advocating for greater accountability and diversity in decision-making to ensure a more balanced financial landscape for all.
The Veteran Member Business Loan Act was another key focus, acknowledging the unique challenges veteran-owned businesses face in accessing capital and recognizing their invaluable contributions to our communities. One of our most significant battles was against the Credit Card Competition Act. We argued that the legislation posed serious risks to the security of payment systems, exposed members to increased fraud risks, and could curtail consumer choice. Instead, we advocated for a comprehensive national data security strategy to protect consumer information more effectively. As we reflect on our historic “Hike” on Washington, it's evident that our efforts epitomized the credit union movement's enduring values. We didn't just represent the interests of our communities; we were instrumental in shaping a national dialogue aimed at fostering a more equitable, secure, and prosperous financial future for credit union members across the nation. Our accomplishments in Washington are a testament to the power of unity and shared purpose. We demonstrated not only our unwavering commitment to our members and communities but also the transformative impact we can achieve when we come together to advocate for meaningful change. It was a clear declaration of our collective vision for a brighter future, anchored in the principles of fairness, security, and prosperity for all. Champions of change & historic advocacy at the GAC. To our esteemed members who joined us at this year's Governmental Affairs Conference (GAC), your presence and dedication have truly made a difference. We embarked on a mission to Washington, D.C., not just as individuals, but as a united force representing the best interests of our credit union communities. The commitment, hard work, and advocacy you've shown stand as a testament to the strength and unity of our movement. On behalf of our entire membership, I extend my heartfelt gratitude to each one of you:
Last Call: Join the GAC Chairman's Challenge Finale Today Today is the last day to make your mark in the GAC Chairman's Challenge, which ends at 4:00 p.m. (CT) today, March 7, 2024. This is your chance to join forces with the credit union community, including leaders like SD's Chad Moller and ND's Paul Brucker, to support our cause against taxation and promote the unique value of not-for-profit credit unions. The clock is ticking—every contribution counts, either in person or virtually. Let's rally together to back the candidates who stand with us. Don't miss out on making a difference for credit unions everywhere. Reach out to get involved and keep the momentum going. Time's running out, so let's make it count! As always, feel free to contact John Alexander with any advocacy or regulatory concerns. Comments are closed.
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