The President's Perspective

​Legislative momentum builds as the GENIUS Act advances, DTMCU efforts ramp up, and credit unions unite to block harmful CCCA amendments.

Greetings colleagues and advocates,

The coming days could prove pivotal as the U.S. Senate is expected to take up the GENIUS Act (S.1582) legislation aimed at establishing a federal regulatory framework for stablecoin innovation. While this is an opportunity to advance responsible fintech development, we are on high alert. Our top priority remains ensuring that the bill remains clean—free of harmful, unrelated amendments.

Specifically, we are focused on blocking poison-pill amendments like those that would cap credit card interest rates or alter the credit card interchange system. These last-minute, backdoor policy plays pose an immediate threat not only to credit unions, but also to the consumers we serve.

Unfortunately, we’ve learned that Senator Roger Marshall is trying to fast-track the Credit Card Competition Act (CCCA)—the so-called Big Box Bailout Bill—by running a “hotline” among his GOP colleagues to force a vote or sneak the amendment into the GENIUS Act. This is nothing more than a stealth attempt to use the GENIUS Act as a vehicle for big-box retailers to offload their costs onto financial institutions and, ultimately, consumers.

A hotline process is no place for controversial legislation. These changes could undermine secure payment systems, weaken fraud protections, and make access to credit more difficult while doing nothing to help consumers.
Our message is simple: Keep the GENIUS Act clean.

That’s why DakCU is working closely with our partners at America’s Credit Unions and the Defense Credit Union Council, and why we have sent letters directly to Senators Hoeven, Cramer, Rounds, and Thune, urging them to support a clean bill.

In particular, we need to secure Senator Kevin Cramer’s support on this issue. We issued an advocacy alert last week to our North Dakota credit union leaders asking them to make their voices heard. Now is the time to double down.
 
DakCU has learned that Senator Cramer is still undecided on this issue. If you haven’t already done so, please contact Senator Cramer and urge him to oppose the harmful Credit Card Competition amendment, which would insert language from the Big Box Bailout Bill into the GENIUS Act. This amendment poses a serious threat to credit unions and their members. If passed, it would undermine secure payment systems, weaken consumer protection, and ultimately make credit more difficult to access. Senator Cramer’s support is crucial in preventing the CCCA from being grafted onto the GENIUS Act. If you haven’t reached out—please do so here. The costs of inaction are simply too high. 

Learn more about why Interchange Works and what’s at stake: Interchange Homepage - Interchange Works: Protect My Card

The President’s Big Beautiful Bill May Be on the Move
In another important development, Senate Majority Leader John Thune has signaled his intention to advance the Senate tax package the week of June 23. This makes the coming weeks a critical window for our Don't Tax My Credit Union (DTMCU) campaign.

We’ve joined our league peers across the country in signing onto a letter led by America's Credit Unions, reinforcing our united front and ensuring credit union voices are being heard. Thanks to your continued grassroots engagement, we’re in a strong position to influence how the Senate shapes this bill. 

Golfers & PAC supporters – you are invited!
Support your state’s GAC committees by attending one of the upcoming golf outings. Both events are to generate funds for the corresponding state’s PAC. South Dakota’s Par for the PAC is scheduled for Thursday, July 10, at River Ridge Golf Course in Garretson, SD.

The ND GAC: LaMoure Credit Union - PAC Scramble takes place on Thursday, September 18, at Memorial Park Country Club in Lamoure, ND.

​Please contact John Alexander (ND) or Chesney Garnos (SD) with any questions. Your support will help advance our advocacy efforts towards a more favorable legislative and regulatory environment for credit unions. I hope to see many of you at either (or both) of these advocacy events!

Join us for the CU Professionals Forum & Foundation Golf Scramble.
Finally, please save the dates – August 12 and 13, for DakCU’s CU Professionals Forum and Foundation Golf Scramble! Both events will be held in Fargo, and once again, 100% of proceeds from the golf outing will be donated to Sanford Children’s Hospital in Fargo for the CU4Kids Micropreemie Care Unit. Registration and additional information will be available soon, but meanwhile, please mark those calendars.  

TruStage Discovery 2025 Conference open for registration.
Registration is open for the Discovery2025 Conference with TruStage. This annual virtual conference is your gateway to strategic industry insights you need to help navigate the evolving financial landscape and the diverse needs of members. The free event takes place on Thursday, August 7, 9:00 a.m. (CT) – 4:00 p.m. (CT). I encourage you to join this valuable virtual conference to uncover actionable data and trends designed to empower your credit union to engage with members in digital, yet profoundly human-centered, ways. Featured keynotes include world-renowned futurist, Zack Kass, and Future of Work Strategist, Seth Mattison. Click here to register and review the full agenda.
 
Spotlight on Leadership: April Tompkins Shares Her CUWLA Journey
Congratulations to April Tompkins, CEO of Explorers CU on being featured in an inspiring CUWLA (Credit Union Women's Leadership Alliance) interview! Her journey and insights highlight the strength, resilience, and leadership that define the Credit Union Women’s Leadership Alliance. Don’t miss her story—read the full interview here.

Let’s keep pushing forward—together.

​DakCU President/CEO