Legislative Update with Chesney

Credit union advocacy wins big tax-exempt status preserved and 2026 election season heats up in South Dakota!

​by Chesney Garnos, Executive Director of Government Affairs

It’s Time to Pass Along Our Thanks – Credit Union Tax Status Secured
President Donald Trump’s recent signing of H.R. 1 marks a major advocacy win for credit unions nationwide. After months of hard work, advocacy meetings, and ensuring our credit union members’ voices were heard, credit unions can celebrate the preservation of their tax-exempt status. We are thrilled to share that our unique tax-status remained untouched throughout every draft and amendment of the bill!

This victory is a direct result of the coordinated and tireless efforts of credit union advocates including many rights here in the Dakotas who stood up to protect the credit union tax status. When Congress announced that “everything was on the table” during tax reform, the stakes were high. But thanks to the persistent engagement of our Dakota credit union leaders, staff, and members, the credit union tax exemption remained untouched in every version of the legislation.

Now that the bill has been signed into law, we encourage all Dakota credit union advocates to take a moment to thank the members of our Congressional delegation especially those who have consistently stood with credit unions. Your voices made a difference, and your continued engagement helps keep our movement strong.

Please send your thank you message to our delegation in North and South Dakota today here.

South Dakota Election Season Around the Corner
It’s getting closer to the 2026 election! Check out the latest on individuals who have either declared their candidacy or are rumored to be considering a run for office in South Dakota's 2026 election cycle.

U.S. Senate

• Mike Rounds (R) – Incumbent
• Julian Beaudion (D) – Filed campaign committee
• Brian Bengs (I) – Announced candidacy

U.S. House of Representatives

• Casey Crabtree (R) – Speculated; State Senator
• Marty Jackley (R) – Announced; Attorney General
• James Biolata (R) – Announced via Facebook
• Scott Schlagel (D) – Filed statement of candidacy

Governor

• Dusty Johnson (R) – Current U.S. Congressman
• Gov. Larry Rhoden (R) – Incumbent (assumed office after Gov. Noem’s resignation)
• Jon Hansen (R) – Announced; State Representative
• Toby Doeden (R) – Announced; Aberdeen businessman
• Robert Arnold (D) – Announced; 19-year-old student
• Terry Philip Gleason (I) – Chamberlain resident
• Andrew Larcher (I?) – Filed paperwork; Amazon employee

Attorney General

• Open Seat (Marty Jackley running for Congress)
• Lance Russell (R) – Announced; State’s Attorney for Fall River & Oglala Lakota Counties

Secretary of State

• Monae Johnson (R) – Incumbent
• Leah Anderson (R) – Speculated; Minnehaha County Auditor
• Terrance Davis (D) – Filed paperwork

State Auditor

• Open Seat (Incumbent term-limited)
• David Barranco (R) – Announced; Sioux Falls City Councilman
• Austin Goss (R) – Speculated

State Treasurer

• Open Seat (Incumbent term-limited)
• Jason Williams (R) – Speculated; Deputy Treasurer

Commissioner of School & Public Lands

• Brock Greenfield (R) – Incumbent

Public Utilities Commission

• Open Seat (Commissioner Gary Hansen retiring)
• Jim Mehlhaff (R) – Speculated; State Senate Majority Leader
• Don Haggar (R) – Speculated; Former State Representative

​Teamwork Makes the Dream Work: Credit Union Advocacy Summit
In late June, our advocacy team was able to connect with over 80 credit union league leaders gathered with representatives from AACUL, America’s Credit Unions, and TruStage to coordinate a proactive advocacy agenda for the remainder of 2025 and into 2026. The summit focused on strategic alignment between state and federal efforts, emphasizing:

• Future-proofing credit unions and preparing for emerging issues such as fraud
• Maintaining unified, consistent messaging across the nation
• Strengthening collaboration amongst our partners throughout the league system

Additionally, I had the opportunity to present a SWOT analysis to analyze our grassroots and PAC efforts with my colleague from Cornerstone, April! It was definitely a great opportunity and has us energized for what is ahead for the rest of 2025 and 2026.

---

For any questions you can reach me at [email protected]. ​