Legislative Update with Chesney

Our advocacy is gaining momentum! Meet the new SD GAC members and our advocacy intern.

by Chesney Garnos, Executive Director of Government Affairs
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Spotlight on New Advocacy Champions

• Tiffany Mutchler: Marketing Manager, Voyage Federal Credit Union – Sioux Falls, SD
  Tiffany is a dynamic voice in the credit union movement, serving on the Executive Committee of America’s Credit Unions’ Marketing, PR & Development Council and the SE605 Chapter Board. She’s also a leader in the American Heart Association’s Go Red for Women campaign and actively involved in her church. Her enthusiasm, organization, and deep commitment make her a force in both advocacy and community leadership.

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• Deanne “DeeDee” Wilking: Member Experience Manager and BSA Officer, Explorers Credit Union – Yankton, SD
  DeeDee brings a powerful blend of legal education and ag-marketing savvy to the table. Since joining the industry less than a year ago, she’s already earned her BSA Certification and is pursuing Compliance Certification. She's an active part of events like the Crofton Dam Race. Her strategic thinking and approachable style are already making waves.

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• Dillon Grubb: Advocacy Intern, Dakota Credit Union Association
  Originally from Norfolk, NE, Dillon recently completed his Political Science and Economics degrees at USD. This summer, he’s finishing his undergraduate thesis on rural development in Africa and contributing to our data analytics efforts. Fluent in Russian and headed to Belgium this fall for an international master’s program; Dillon brings a global perspective and research-driven mindset to our work. He has been working with our PAC and grassroots databases.

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GENIUS Act Advances Without Harmful Amendments
The Senate voted 68–30 on Wednesday to advance the GENIUS Act (S. 1582), a bill to regulate stablecoins, without two harmful amendments that credit union advocates helped block. The vote triggers a 30-hour debate limit and ensures no further amendments can be added.

Sen. Josh Hawley’s proposal to cap credit card interest rates at 10% was among the measures excluded—thanks to strong opposition from America’s Credit Unions, state leagues, and credit union supporters nationwide.

Three Credit Union-Friendly Bills Move Forward
Three bills advanced out of House Financial Services Committee last week that are credit union friendly. The pieces of legislation include:

• Homebuyers Privacy Protection Act (H.R. 2808), which would curtail abuse of mortgage trigger leads while narrowly preserving them for legitimate, transparent, and accountable uses. The bill passed 46-0.
• Digital Asset Market Clarity (CLARITY) Act, (H.R. 3633), to create a regulatory framework for digital assets, and ensure stablecoins cannot be treated as a credit union or bank deposit. It also clarifies credit unions that offer custody or safekeeping services for digital assets are not required to hold assets held in custody as liabilities on their balance sheet. It passed 32-19; and  
• Advancing the Mentor-Protégé Program for Small Financial Institutions Act (H.R. 3709), to codify the Treasury’s mentorship program pairing small and rural financial institutions with larger ones. The bill passed 50-1.

Don’t Tax My Credit Union: Unified Front in the Senate
Every state league, along with America’s Credit Unions, sent a joint letter to the U.S. Senate urging protection of credit unions’ tax-exempt status as part of the One Big Beautiful Bill Act (H.R. 1). The House passed the bill last month without changes to credit union taxation, and advocates are working to ensure the Senate follows suit.

We are pleased to share that yesterday, the Senate Finance Committee released the initial text of its portion of the reconciliation bill without any changes to the credit union tax status! The full legislative text is likely to be released in the coming days and we will continue to advocate on behalf of our credit unions and members. 

$30 by the 30th – Let’s Rally Together!
Our annual $30 by the 30th campaign is more than a fundraiser—it’s a visible show of strength. Whether you serve a rural community or an urban hub, your support helps preserve the cooperative credit union model. Contribute today to make an impact!

Par for the PAC Returns – July 10, 2025
Don’t forget – Par for the PAC is right around the corner!

Event Details:
River Ridge Golf Course – 25412 485th Ave, Garretson, SD
9:00 a.m. – Registration
10:00 a.m. – Shotgun Start
2:00 p.m. – Social with live music, food, and drinks
2:30 p.m. – Awards & Legislator Recognition

Register here.

We’ve secured a room block at the brand-new Canopy by Hilton in downtown Sioux Falls. Book by calling (605) 275-4120 and referencing Dakota Credit Union Group or click here to reserve online.

For any questions about legislation, events, or advocacy priorities, don’t hesitate to reach out to me at [email protected].