The President's Perspective
Greetings and Happy Monday,
We no longer have “election day” in this country, as early voting, drop boxes, and mail-in ballots have transformed our election process into what is now an “election season.”
Ballots are still being counted in many areas, mostly in western states, except for one New York District (22) and Maines’s District 2. Republicans failed to win control of the U.S. Senate over the weekend when Adam Laxalt narrowly lost his race against incumbent Democrat Sen. Catherine Cortez-Masto in Nevada. Even as Georgia prepares for a special election run off on December 6, the victory in Nevada assured Democratic control in the Senate this January with the Vice President serving as the tie breaking vote.
On the House side, the balance is still in question, however Republicans picked up a needed seat in Oregon. The Magic number for control of the House is 218. (Before the election, Dems had 222 seats to the GOPs 213.)
As of Saturday night, The Republicans have secured 212 seats as critical contests in Alaska, California, Colorado, and Maine are still up in the air. However, as the counting continues, Republicans are projected to win a majority and the final count is really the only unknown.
Even with some of the elections still undecided, members of the U.S. Senate wanted to convene this week to decide on their leadership moving forward. Rumors abound that there will be leadership challenges and potential changes in the Republican Caucuses.
Meanwhile, here in North Dakota, both seated and newly elected legislators will be in the Capital City to elect their new leadership for the upcoming session in Bismarck. We know there will be new majority leaders in both chambers for the Republicans and a new Senate minority leader for the Democrats.
Credit Unions weigh in on prospective “Lame Duck” agenda.
What’s next? There are still a few weeks left in this Congress, and credit unions weighed in and reached out to all 535 congressional offices following election day last week. The CUNA-League system reminded Congress that America’s credit unions are committed to advancing the communities they serve and improving members’ financial well-being. Our message: Every American should have access to local financial partners who put their financial well-being ahead of the bottom line. Here is a link to the letter.
We will continue to fight against any changes to the interchange system and the credit union tax status, while working to advance priorities such as field of membership modernization, data security and privacy, charter expansion, Consumer Financial Protection Bureau reform, and to extend enhanced lending flexibility of NCUA’s Central Liquidity Facility. If you missed CUNA’s post-election webinar on what’s next, you can find the recording here. You can also get the latest election updates from the CUNA Election hub.
Financial well-being for all – serving our Native American communities.
Today, there are 16 Native credit unions and 74 Native Community Development Financial Institutions (CDFIs), which along with 18 Native banks, serve around 1 million Native Americans living on 567 federally recognized tribal reservations. Here in the Dakotas, there are three credit unions that serve our Native American communities with physical branches located on tribal lands. However, these communities are often ignored by the banking community, and many are in desperate need of financial services.
CUNA, in partnership with Inclusiv is holding a webinar: How Credit Unions Can Better Serve Indigenous/Native Communities on Wednesday, Nov. 16. This webinar features credit union leaders sharing their strategies for delivering safe and affordable financial services to these communities. The webinar is free, open to all, and you can register here.
2023 Impact Report coming soon!
We’re getting close to that time of year again when we ask our credit unions to continue to support DakCU with your annual dues submissions. We realize that you work hard for your money, and we need to show value for your dollars. That is why we laser-focused the 2023 brochure/impact report on specific achievements as well as the many benefits of membership. For the first time, we will also have a digital version available for all, while all credit union CEOs will receive a mailed hard copy. We think this year’s brochure is the best we have ever produced, and we hope you agree. Watch The Memo for an announcement coming soon once both versions are available.
Get your Holiday Sweepstakes tickets for a chance to win!
Don’t forget – the CUPAC/CULAC Holiday Sweepstakes is underway with a chance to win $5,000 in prizes! Each credit union with a signed permission agreement should have your promotional resources available and displayed so staff and members can participate. Be sure to contact Jay Kruse if you have any questions, and on behalf of the North and South Dakota GACs, we appreciate your support.
MonDak registration is open!
As we announced last week, registration is now open for our very popular MonDak Roundtable for CEOs, upper management, and volunteers. We will be in Las Vegas at the Flamingo Hotel and Casino, February 7 – 8, 2023. This year’s event is shaping up to be bigger and better than ever. Check out our excellent lineup of presenters and if you register by December 15 you can save $50 with the “Early Bird” special.
Welcome Brad Houle – President/CEO of Town & Country CU
Finally, please join me in extending a warm welcome to Brad Houle, the newly appointed President/CEO of Town & Country Credit Union (Minot, ND). Brad has 25 years of experience in the credit union industry, most recently as President/CEO at CAHP Credit Union in Sacramento, CA. His vast experience serving on various boards in addition to his educational credentials will help Town & Country to continue their outstanding growth and success. Congratulations Brad, and on behalf of the Dakota Credit Union Association, we look forward to your leadership and engagement here in the Dakotas.
Have a great week!
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