Legislative & Regulatory Update

John Alexander with a bit of a CU history lesson.
​Plus, Measure 4: The risky gamble that could cost North Dakota its future. 

​by John Alexander, Director of Legislative & Regulatory Affairs
Grit. Grind. Glory. These words aren’t just a catchy motto—they embody a legacy that stretches back nearly a century. A story that begins in Europe, winds its way through the hearts of small communities in Canada, and ultimately makes its way into the lives of millions across the United States. It’s the story of credit unions: institutions built on the bedrock of trust, the promise of financial empowerment, and a steadfast commitment to the people they serve.
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It all began on a chilly April day in 1909, when a man named Alphonse Desjardins, a Canadian journalist with an unwavering belief in the power of cooperative banking, founded La Caisse Populaire de Levis in his own home in Quebec. This small endeavor was revolutionary; the very first deposit was a mere ten cents. Yet, from that modest beginning grew a movement that would span continents, upending traditional banking norms in favor of a more inclusive, member-focused approach. Desjardins didn't stop at the Canadian border. With a passion for helping people access fair and equitable financial services, he ventured south to Manchester, New Hampshire. There, in collaboration with local leaders, the first U.S. credit union, St. Mary’s Cooperative Credit Association, was born. This event marked the beginning of a sweeping change across America, igniting a financial revolution.

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The birth of credit unions in the United States attracted pioneers like Pierre Jay, the Massachusetts Bank Commissioner, and Edward A. Filene, a wealthy Boston merchant. Together, they pushed for the enactment of the Massachusetts Credit Union Act, the first general statute to guide credit union establishments nationwide. For his relentless dedication, Filene earned the title “Father of U.S. Credit Unions.” This was no easy task—this was grit. It was the grind of endless advocacy, sleepless nights, and navigating complex regulatory landscapes. But the glory? That came when everyday people began to experience financial stability and success through credit unions, unlocking a future that previously seemed beyond their reach.

Fast forward over 100 years, and that same spirit of perseverance thrives. Today, credit unions continue building stronger financial futures, offering local roots with global impact. Our credit union movement, though far from its humble beginnings in Desjardins' living room, stays true to its mission: maximizing economic benefits for its members by providing financial services at competitive, fair rates. It’s a promise we make to every member who walks through our doors—and it’s a promise we uphold in the face of new challenges.
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Every year, we take our advocacy to the heart of power in Washington, D.C., bringing credit union leaders who embody the movement’s original spirit and determination. These gatherings aren’t just formalities; they’re a battle cry for fairness, for transparency, for the right of every member to have their financial well-being prioritized over profit. In this mission, our 12 steadfast DakCU representatives recently made their way to Capitol Hill, just as our movement’s forebears did decades before, ready to take on the issues threatening our members' security and peace of mind.

One of the most pressing battles we’ve fought is the fight against the harassment of our members' personal data—data that is too often bought and sold by the major credit bureaus without the member's explicit consent. It’s a practice that not only violates trust but places undue stress on individuals simply trying to secure a future for themselves and their families.

I’ve been with the association for almost a year now, and in that short time, I’ve been part of three critical journeys to Washington. We've stood before legislators, voices unwavering, demanding change. And here’s the best part: we’re winning. Our efforts have yielded two major victories that mark significant steps toward protecting our members. One of our proudest moments came when all six of our congressional members—three from North Dakota, three from South Dakota—signed on to co-sponsor the Home Privacy Act. This landmark bill addresses the crux of the issue: ensuring that the sensitive data of our members is safeguarded, ending the harassment that often follows a home loan approval.

The road hasn’t been easy, and it’s far from over. But just like Desjardins, Jay, and Filene before us, we embrace the struggle. Our success in D.C. isn’t just about legislative wins; it’s about maintaining the integrity of our promise to every credit union member. We’re here to build stronger, fairer financial futures—one member at a time, one victory at a time. The grit that started this movement in a small Canadian home still fuels us, the grind that pushed us through decades of advocacy still drives us forward, and the glory of serving our members’ best interests remains our ultimate reward.

The Risky Gamble That Could Cost North Dakota Its Future
On September 17, two Dakota credit union chapters—North Central at the Rugby Country Club and Credit Unions United at the North Dakota State Fairground in Minot—held their "Pints & Politics" events, bringing together credit union leaders, board members, employees, and local lawmakers. These gatherings, part of the Dakota Credit Union Association's advocacy efforts, provide a space for informal yet impactful discussions on legislative issues that directly affect credit unions and their members. Central to this year’s discussions was Measure 4, a proposal that poses significant risks to North Dakota communities.

Measure 4, which seeks to eliminate property taxes, is a major concern for credit unions and the broader community because of its potential to drastically reduce funding for critical services. Property taxes are the primary source of revenue for public schools, local governments, emergency services, road maintenance, and other essential community programs. The elimination of these taxes could slash school budgets by 30-40%, leading to cuts in teacher salaries, diminished resources, and a lower quality of education. This would make it even harder to attract and retain skilled educators in a state already struggling with teacher shortages.

For rural communities, which operate with smaller budgets, the impact could be devastating. School closures, loss of public services, and crumbling infrastructure would become real threats. Without property tax revenue, essential services such as emergency response, road maintenance, and public utilities would be at risk, particularly during the harsh winter months when services like snow removal are crucial. In short, Measure 4 could destabilize life in smaller towns across the state.

While supporters of the measure claim the state could replace the lost $1.329 billion annually, there is no clear or concrete plan on how this would be achieved. This leaves communities facing a precarious future, with no guarantees that the essential services currently funded by property taxes will be preserved. The uncertainty surrounding Measure 4 makes it a risky proposition that threatens to upend North Dakota's schools, public services, and overall community stability.

As always, don’t hesitate to contact me with any advocacy questions or concerns.