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The President's Perspective

5/6/2025

 
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​The tax fight is on—time to circle the wagons. Join us at the Summit to stand united and take action!
Mount up, It's Time to circle the Wagons!
Friends, there’s an old saying that comes from the American West early pioneer days when settlers heading out in the open frontier would circle their wagons to protect against attacks.

This defensive formation was both a tactical strategy and a sign of solidarity and mutual support among the group.
Today that metaphor means to unite to protect against a common threat or challenge. So, given what we are seeing and hearing ‘it’s time for credit union leaders, volunteers, team members, and our credit union members to ‘circle the wagons.’  There’s no sugarcoating it—the credit union movement is entering into a critical period. The federal tax conversation is heating up, and if you’re not already engaged, you need to be.  Together with our system partners, we’re getting signals that the House Ways & Means Committee could begin marking up tax legislation as early as next week.

Let me be clear: this is not just another policy blip on the radar. This is a full-fledged moment for credit unions, our associations, and our industry allies to come together with one unified voice to protect the not-for-profit tax status that enables us to serve members the way we do.

Just as we are preparing to gather in Fargo for next week’s DakCU Summit, the timing couldn’t be more urgent—or more perfect. We’ll be unpacking all of this in detail and strategizing together.

Meanwhile, we’re also seeing increased scrutiny of our industry, some of it from unexpected places. Former NCUA Chairman Todd Harper, while he’s suing to get back on the Board, has publicly questioned our industry’s value. That’s really disappointing—as many in the movement have come to his defense. Plus, consider that during his own time as chair:
  • Credit union assets grew by 25%,
  • NCUA approved nearly 600 mergers.
  • Credit unions acquired 58 banks, keeping jobs and financial access locally.

Unfortunately, his remarks echo a growing narrative that fails to recognize the real, measurable impact credit unions have in their communities. It’s time to define this debate on our terms . So let’s set the record straight:
  • While banks have shuttered more than 20,000 branches since 2012, credit unions have opened a net 600 new ones.
  • We’ve opened 900 branches in banking deserts—accounting for more than a third of all newly served areas.
  • 90% of credit union loans go to everyday households—not big corporations.
  • Only 4% of bank asset sales since 2022 involved a credit union, but those few deals have been vital in keeping community investment and jobs intact.
  • And here’s the kicker: the average income of a bank-only customer is double that of a credit union-only member. If anyone is serving those of modest means, it’s us.

This is what we’ll be talking about next week in Fargo. Our industry’s story is powerful—and now more than ever, we need to tell it with clarity, conviction, and unity.

The time to execute our strategy is now. Mount up, we’re circling the wagons because it’s go time!
​
Kick Off Summit: PAC Recognition, Foundation Fundraiser, and GAC Silent Auction

Stack the PAC: Recognition & Fundraising Event
To kick off Summit week, the South Dakota and North Dakota Governmental Affairs Committees will host a PAC Recognition and Fundraiser on Monday, May 12 at 7:30 p.m. at the Delta Hotel.

We’ll recognize last year’s GAC contributors, and all supporters (via payroll deduction, direct contributions, or sweepstakes entry at the $24 CU Advocate level) are invited. Not yet a contributor? No problem — simply donate $24 at the door to attend. We hope to see you there!

Support the Foundation: Cash Stash Sweepstakes & GAC Silent Auction
Our Dakota Credit Union Foundation continues to meet its strategic mission of supporting our credit union affiliates as well as promoting the financial welfare of the communities we serve. In effort to help the Foundation meet their objectives this year they are once again sponsoring their annual fundraiser at the Summit with the Cash Stash Sweepstakes where attendees will have the opportunity to win big!
  • Cash Stash Sweepstakes:
    • $20 donation = 1 entry
    • $100 donation = 6 entries
    • Grand prize: $2,000!
      Drawing will take place during the Awards Banquet on May 14. Click here to enter the sweepstakes.
  • Silent Auction:
    • Bid online via ClickBid May 13–14 — even if you can’t attend the Summit!
    • Visit https://dakcu.cbo.io for a preview of items.

Funds raised benefit the Roger Heacock Hike the Hill Scholarship Fund, which has awarded 83 scholarships totaling $63,500 since 2008! Can your credit union donate an auction item? We ask for items with a retail value of at least $75–$100 (or more). Every donation helps grow advocacy efforts!

See you in Fargo!
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​DakCU President/CEO

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  • Advocacy
    • Bill Tracking
    • Grassroots Action Center
    • Political Fundraising
  • Compliance
    • Compliance Resources
    • Compliance Solutions >
      • AffirmX
      • ComplySight
      • CU CMS
      • CU PolicyPro
      • InfoSight360
      • Jackson Lewis
      • PayLynxs
      • RecoveryPro
      • ViClarity
      • Training
    • The Memo: Compliance
  • Member Resources
    • DakCU Awards
    • Financial Well-Being for All
    • Professional Development >
      • Chapters
      • Emerging Leader Program
      • Sales CU Training
    • Strategic Partners >
      • CAP Program Directory
      • Compliance Solutions
      • Pee Wee and Friends®
    • SWAP: CU Awareness
  • News & Events
    • The Memo
    • Events Calendar
    • Annual Summit
    • GAC
    • Par for the PAC
    • Sales CU Training
  • About Us
    • Board of Directors
    • Contact Us
    • DakCU Foundation >
      • Donor Wall
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      • Memorials
      • Foundation Sweepstakes
    • DakCU Health Benefits Trust