Legislative Update with Chesney

Great turnout at the Rapid City Pints & Politics; preparing for a post-election lame-duck session; and apply now for a GAC Scholarship! 

​Pints & Politics – Out West
Last week, Jeff Olson and I kicked things off in Rapid City, South Dakota, with another Pints & Politics event. We had a great turnout, with five credit unions from the Black Hills region well represented and lawmakers and candidates from the surrounding districts. We provided crucial updates on how South Dakota credit unions deliver essential services, particularly to our rural and underserved communities. Additionally, we highlighted how our not-for-profit, cooperative model not only justifies our tax-exempt status but also offers significant benefits to our members and the broader community. To wrap up the evening, candidates and lawmakers shared about their platforms, followed by an engaging Q&A session with our CU attendees.

This week, we will be headed to our capital city – Pierre! We will host our Pints & Politics event at Oahe FCU over the lunch hour on Wednesday, October 9.

It's not too late to join us at any of the upcoming South Dakota events – simply email your RSVP.  

• October 15th - Huron, Top Floor Events at 6:00 p.m. CT
• October 16 - Yankton, Ben’s Brewing Co. at 6:00 p.m. CT
• October 17th - Sioux Falls, JJ's Bar at 6:00 p.m. CT

​Preparing for a Post-Election Lame-Duck Session
On Monday, I had the opportunity to attend a luncheon with Senator John Thune at the Downtown Sioux Falls Rotary Club. It was great hearing an update on where various pieces of legislation are headed, which we can expect more updates on following the current October recess and following November election. Key topics discussed included defense funding, the farm bill and lending, and the 2025 tax legislation. 

When Congress returns from October recess, we expect to see a final version of the FY2025 National Defense Authorization Act (NDAA) that Congress will vote on for a post-election lame-duck session. Our association, along with other leagues across the states, joined in with America’s Credit Unions to write a letter to House and Senate Armed Services Committee leaders last week, urging opposition in any potential concerning amendments that would negatively impact credit unions. Some of these key topics included:

• Any amendments related to credit union-opposed legislation that would make changes to the Electronic Funds Transfer Act (EFTA) to expand credit union liability for payments related fraud;
• Expanding interchange price caps, including any efforts to attach the Credit Card Competition Act; and
• Amendments that would add military banking matters, which could upset the current balance the Department of Defense has found with on-base financial services for its members. 

 Read the full letter here.

Save the Date – Earn a Scholarship!  
Speaking of advocacy, the most popular government affairs event is back in Washington DC, set for March 2 – 6, with this year’s theme set as “Together We Move.” This theme emphasizes our forward momentum and the power of our cooperative movement and continues our advocacy momentum as one unified and powerful voice. This is the credit union industry’s largest advocacy event, bringing thousands of leaders from across the country to rally around a united cause and allowing thousands of credit union members to hike the hill, advocating on behalf of our credit union members to our lawmakers.

We are excited to be offering four total Roger Heacock Scholarships to attend the 2025 GAC, valued at $2,500 each! Two candidates from South Dakota and two candidates from North Dakota will be selected. Interested in applying? Email me today!
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You can also review all of the information at our “One Stop GAC Shop” on our website.