The President's Perspective

Credit Union Day at ND Capitol, HCU and Postal Family FCU's Annual Meetings, Dakota CU Advocates gearing up for crucial Congressional Hill visits, and more.

 It’s Credit Union Legislative Day at North Dakota Capitol!
The North Dakota legislative session is fast approaching their cross over recess. This week the North Dakota Government Affairs Committee along with the DakCU advocacy team will hike the North Dakota Hill for Credit Union Legislative Day at the Capitol, bringing credit union leaders and advocates together to engage with state policymakers. This event serves as a vital opportunity to strengthen relationships with elected officials and reinforce the essential role credit unions play in supporting communities across the state.

The day will be filled with productive discussions and meaningful exchanges, beginning with a visit to Governor Armstrong’s office. Here credit union representatives will share firsthand stories of how their institutions positively impact members' financial well-being.

We’ll tee up key legislative priorities that ensure the continued success of the credit union movement with leaders from both the majority and minority parties in both legislative chambers. Our focus will be to highlight the unique structure of credit unions, emphasizing the importance of maintaining tax-exempt status and advocating for policies that allow credit unions to better serve North Dakotans.

North Dakota Credit Union Legislative Day is our chance to reinforce the collective commitment to advocacy and the credit union difference. With continued engagement and collaboration, credit unions will remain a strong voice in shaping policies that benefit members and communities across North Dakota.

Celebrating Credit Union Longevity
Even with the deep freeze blanketing subzero temperatures across the entire Dakota region, credit unions members still came out to celebrate their local financial cooperatives. This past weekend, I had the privilege of participating in two significant milestones for the credit union movement. Notably, Hometown Credit Union’s 75th Annual Business Meeting and Postal Family FCU’s 88th Annual Business Meeting. These gatherings were a testament to the strength, resilience, and member-focused mission that credit unions embody.
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​At Hometown Credit Union, the atmosphere was filled with pride and celebration as members, staff, and board members reflected on 75 years of service. The commitment to financial well-being and community support was evident in every conversation. It’s remarkable to see how this institution has grown while staying true to the principles that have guided it since its inception.

Jeff Olson, DakCU President/CEO with HCU Board Member Josh Land, and Harold Hagen, HCU President/CEO.

Postal Family FCU's CEO, Karen Anderson provides credit union updates to members.

Similarly, Postal Family FCU’s 88th Annual Business Meeting highlighted the deep-rooted history and impact of credit unions. The dedication to serving postal workers and their families has remained unwavering, and it was inspiring to hear about the ways they continue to adapt to meet evolving member needs.
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​Both events reinforced the power of cooperation and the importance of maintaining a people-first approach in financial services. I left these meetings energized and even more committed to advocating for the credit union difference. Congratulations to Hometown Credit Union and Postal Family FCU on these incredible milestones and thank you for allowing me to be part of your celebrations!

​Dakota Credit Union Advocates Gearing up for Crucial Congressional Hill Visits
The credit union movement is gearing up for one of the most significant advocacy events of the year—America’s Credit Unions Governmental Affairs Conference (GAC) in Washington, D.C. This premier event, taking March 3-5, will bring together over 6,000 attendees, feature more than two hundred distinguished speakers and presenters, and represent nearly 1,000 credit unions from across the country. The expansive exhibit hall will host close to three hundred business solutions providers, and more than six hundred critical meetings will take place with members of Congress and key officials.

Among those making the trip to Washington are thirty dedicated Dakota credit union advocates from fourteen different credit unions. These passionate professionals will share the credit union story, emphasizing the importance of preserving our unique tax-exempt status and the direct benefits it provides to consumers and members—not only in the Dakotas but nationwide. Their advocacy will highlight the significant impact credit unions have on financial well-being and community development.

The Dakotas’ representation carries additional weight, given the leadership roles our South and North Dakota Congressional delegations hold within the Senate and Senate Banking Committee. Their influence provides a crucial platform in protecting our special tax status, advancing credit union priorities, and ensuring our message resonates with decision-makers at the highest levels.

Credit unions' federal tax-exempt status significantly benefits consumers by enabling these member-owned, not-for-profit institutions to offer more favorable financial products and services. In the year ending March 2024, credit unions delivered an estimated total of $35 billion in financial benefits to American consumers.

The credit union tax exemption allows credit unions to offer lower loan interest rates and higher savings yields, contributing to the financial well-being of their members.

It's important to note that credit unions do contribute to public finances through other means. In 2024, they paid over $12 billion in direct taxes, including payroll, property, and excise taxes, and generated over $20 billion more indirectly in tax revenue by being active in the marketplace.

The presence of credit unions in the financial market not only benefits their members but also promotes competitive practices among other financial institutions, leading to better rates and services industry-wide.

America’s Credit Unions GAC remains a powerful force in shaping policies that protect and promote the credit union difference. As our Dakota advocates head to Washington, we encourage all credit union supporters to stay engaged and amplify the message: credit unions are essential to the financial health and prosperity of our communities.

Stay tuned for updates from the conference, and let’s all stay engaged and work together to safeguard and strengthen the credit union movement here in the Dakotas and across the nation.

Summit Registration is Open!
Registration is now open for the 2025 Summit! Please make plans to join us May 12 – 14 as we head back to the Delta Hotel in Fargo. Once again, we’re thrilled to offer a revised three-day format that promises even more value and flexibility. We have an incredible lineup of speakers that we have engaged for you, with areas of expertise ranging from credit union economics, volunteer, and board of directors training to marketing and leadership development. We will also be offering a Crasher opportunity for those age 35 and under, a golf outing, our popular awards banquet, and of course, our annual business meeting. The early bird discount saves each person $50 and is good through April 18. Find all the finer details, lodging information, and registration here.

Reaffiliation Reminder & DakCU Board Seats Opening
Just a friendly reminder that March 5th is the deadline to submit your association dues to secure voting privileges at our 2025 Annual Meeting. We do have three DakCU board seats that will be opening this year: SD Division A (currently held by Jarrod Reisner); ND Division B (Lacey Fetsch); and SD Division C (Katie Bredvik).

A nominating committee has been formed; feel free to contact Jarrod Reisner (Black Hills Federal CU); Jim Schaefbauer (United Savings Credit Union); or April Tompkins (Explorers CU) with nominations or any questions about the nominating process.

On a positive note.
Congratulations to Renee Freeman on celebrating twenty incredible years at Town & Country Credit Union as an Executive Mortgage Officer! Her dedication, expertise, and unwavering commitment to her clients have made a lasting impact on the company and the community. Here's to many more years of success and continued excellence in the industry!

Have a terrific week!

​DakCU President/CEO