The President’s Perspective

​Early voting opens for some on September 20 – let’s GOTV! Plus, on a positive note, a credit union honors a staff member with a mock cap and gown ceremony. 

This week the Democratic National Convention is taking place in Chicago, where Vice President Kamala Harris, and Minnesota Governor Tim Walz will officially be nominated as the presidential ticket. Today, we are just 77 days away from the General election that will determine the next administration as well as the balance of power in both congressional chambers. Some voting is just over a month away as early voting polls open on September 20 in South Dakota. Only seven counties in North Dakota offer early voting, Burleigh, Cass, Grand Forks, Stutsman, Stark, Ward, and Williams. Check with your county auditor’s office as to when the early polls open and where they’re located.

I have often repeated a quote made by former French President, Charles De Gaulle, who famously said after WWII, “Politics is too serious a business to be left up to the politicians.”  Some politicians don’t like that quote, but others appreciate it. What the former General is stating is that if you’re not interested in politics, then you might as well say you’re not interested in your standard of living, your future, and even our children’s future. The same is true for our credit union movement. If we want to keep any control or have any say over the world and lives, we must be engaged and interested in politics.
 
GOTV is a quick and easy acronym for “get out the vote,” and voting is one of the most fundamental rights and responsibilities of citizens in a republic. It is how the public has a voice in the government, shaping policies and electing leaders who represent their values and interests. With Election Day just 77 days away, the urgency to get out and vote cannot be overstated.
 
It may sound cliché, but it’s also true, every vote counts. As we have witnessed in recent election cycles, the margin of victory can be incredibly narrow. Voting is not just about choosing a candidate; it is about influencing the future of your community, state, and nation. By voting, you contribute to the collective decision making process that impacts issues such as healthcare, education, economic policies, and social justice. Staying silent on Election Day means forfeiting your chance to have a say in these crucial matters. Take your entire family with you. Take ten friends and make plans to cast your ballot this election.
 
I am a proponent of early voting if available. It is a powerful tool that can help ensure that every eligible voter has the opportunity to cast their ballot. Early voting offers flexibility, allowing voters to choose a time that is convenient for them rather than being confined to a single day. This is especially important for people with busy schedules, those who may face unexpected obstacles on Election Day, or those who prefer to avoid long lines at polling places. Early voting also helps reduce the risk of voter suppression by ensuring that more people can participate in the electoral process without unnecessary barriers.
 
Getting out the vote is essential to upholding the principles of our credit union movement, our state and even our local communities. As Election Day approaches, every eligible voter should seize the opportunity to participate in shaping the future by voting, whether early or on the designated day.
 
Calling all Credit Union advocates to oppose H.R. 9303 / S. 4943
Congresswoman Maxine Waters (D-CA), ranking Democrat on the House Financial Services Committee, Senator Richard Blumenthal (D-CT), Chairman of the Senate Permanent Subcommittee on Investigations, and Senator Elizabeth Warren (D-MA), Chair, Senate Banking, Housing, & Urban Affairs Subcommittee on Economic Policy, have introduced the “Protecting Consumers from Payment Scams Act”

This legislation would amend the Electronic Fund Transfer Act (EFTA) to require credit unions and other financial institutions to reimburse consumers for fraudulently induced transfers, undelivered merchant goods, and consumer-based errors for misdirected payments. These are radical changes to the EFTA’s delineation of financial institution responsibility.

While credit unions across the Dakotas support efforts to stop fraudulent schemes and invest in robust compliance programs to limit this activity, the expansion of credit unions’ liability for the misdeeds of fraudulent actors as proposed in this legislation would have the unintended effect of limiting consumer choice and access to services.
We appreciate the efforts to promote consumer and industry resilience to fraud but urge you to reject this misdirected legislation. Unfairly requiring innocent credit unions to pay for fraudsters actions only hurts our ability to serve our members. Instead, legislation should aim to prevent fraud before it occurs and should include bolstering the resources of law enforcement, educating consumers about fraud and scam risks, and creating a level playing field between insured depository institutions and underregulated companies.

What can you do?
America’s Credit Unions and the Dakota Credit Union Association strongly opposes the bill’s amendments to EFTA. An Action Alert has been set up. Our advocacy efforts have fought back against similar legislative proposals and resisted previous attempts to pressure the CFPB into changing longstanding regulatory interpretations of Regulation E. Given the short time remaining in the Congressional session, we don’t believe this legislation is going to move in this Congress, but it will be important to ensure that this legislation does not gain any momentum for future Congresses. We appreciate your support and engagement on this call to action.

Foundation Golf Scramble a tremendous success!
Last week’s Foundation Golf Scramble was a huge success, and with the help of more than 70 golfers, business partners, and Children’s Miracle Network supporters, we were able to present another check for $25,000 to Sanford Children’s Hospital for the new CU4Kids Micropreemie Unit. Hillery Mork provided an update during our event and reported that plans are moving ahead quickly; building plans have been submitted for approval, and construction is expected to begin this year! I would like to thank the Foundation Board for another successful fundraiser! Together, we are accomplishing wonderful things, and on behalf of the Board, thank you all for helping to make this another successful event! 

In a related note, as you know, earlier this year the Foundation Board voted to pledge a total of $200,000 to our state’s three Children’s Miracle Network Hospitals. CU Insight, a trade magazine, contacted us to do a feature story in their Spotlight edition. Last week, the story was published and once again, highlighted the incredible work our Foundation is doing to improve the communities we serve. You can see the article here.
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On a positive note!
Graduating from college is a big deal! That is why Guy Trenhaile and his crew at Healthcare Plus FCU decided to honor staff member Slater Stolp, who recently completed his studies at Northern State University in Aberdeen, SD. Slater had decided not to do the “walk” in the cap and gown ceremony at the University, so his friends and co-workers held a celebration for him at the credit union. Slater performed the honorary “walk” amid many well-wishes and the entire group celebrated with an ice cream cake. Congratulations Slater, and well done HCPFCU! 

​Have a great week, and thanks for all you do!

DakCU President/CEO