 Dakota CU advocates gather at the Credit Union House in Washington, DC last week. Measuring a successful Hike the Hill. How do you measure a successful Hike the Hill? In the world of lobbying, a win is usually getting a bill marked up, out of committee, passed on the floor, and eventually signed by the executive officer. In the credit union advocacy ring, a successful “Hike” would result in building relationships and educating lawmakers on the impact of pending legislation; not only how credit unions can better serve their members, but how some policies impact everyday Americans. As experts in providing financial services to our members and our local communities, it really does come down to those of us on the front lines to make a stand and advocate on behalf of consumers. Last week, the Dakota Credit Union Association advocacy team and nine other Dakota credit union leaders, along with other state leagues, hit the pavement in our nation’s capital to advocate for credit union and our credit union members. While we strive to make a case for our credit union priorities, we almost always advocate on behalf of consumers. Since most policies generate unintended consequences, quite often it’s up to credit unions to inform lawmakers how these policies will impact consumers and our members. Case in point, the Credit Card Competition Act of 2023 will negatively impact our members, and all consumers, as ultimately, they will be paying higher fees and suffer even more fraud in the coming months and years if the bill passes. While our many credit union advocates were on the Hill, Senators Dick Durbin (D-IL), and Roger Marshall (R-KS), attempted to attach the bill to the Senate “minibus” government funding bill, H.R. 4366. Their efforts continue this week. Far from increasing competition in the credit card marketplace, this legislation will hurt consumers and benefit big box retailers by reducing the number of credit card issuers competing for consumers’ business, removing a consumer’s choice of preferred card network, wringing out the competitive differences among card products, limiting popular credit card rewards programs, and putting the nation’s private sector payments system under the micromanagement of the Federal Reserve Board. The Durbin-Marshall bill accomplishes this by using legislation to circumvent the free market to award private sector contracts to a small handful of the sponsors’ favored payment networks to pad the profits of the largest e-commerce and multi-national retailers who are raising prices on American families far more than the real rate of inflation. While we were in Washington, D.C., geofence ads were running in the Capitol area to demonstrate to legislators (and anyone listening) that the current credit card system works well. (You can play one of the 30-second ads here.) We need to continue to contact our legislators through CUNA’s Grassroots Action Center. You can find updated stats, talking points, and interchange information here on the Interchange Website. GAC registration opens today! It doesn’t seem possible, but registration opens today for the 2024 CUNA Governmental Affairs Conference (GAC). This event brings together thousands of credit union professionals to showcase our industry’s advocacy agenda, and to also show lawmakers how credit unions are improving the financial well-being of our members and communities. The dates are set for March 3 – 7, 2024 at the Washington Convention Center in DC. Details are being finalized – but you can check the event page often as speakers, topics, and breakouts are announced. Kudos to First Community CU and Town & Country CU! Prairie Business Magazine recently published their 50 Best Places to Work spotlight for 2023. I am excited to share that two of our North Dakota credit unions were named this year! Congratulations to Town & Country CU (Minot), and First Community CU (Jamestown). The “Top 50” were selected from more than 1,500 nominations from employees at companies and organizations in the magazine’s readership area, which includes North Dakota, South Dakota, and western Minnesota. Companies were then rated in areas including benefits, and cultural and personal job satisfaction. When people feel appreciated and valued, it shows in their job performance, and provides for a healthy work-life balance, contributing to the success and well-being of a company and its employees. Congratulations to both of these outstanding credit unions! Forums for CEOs on proposed merger. As a reminder, CUNA President/CEO Jim Nussle is holding a series of virtual forums for NAFCU and CUNA member CEOs to learn more about the proposed transformation to America’s Credit Unions. There are three options: One for NAFCU-only members; CUNA-only members; and dual members. Registration links for each are available below, and I encourage all Dakota CEOS to sign up for their appropriate session. Each forum will include a brief update on the merger followed by a Q & A session. You may also submit questions during the registration process. The vote remains open until 5 p.m. (ET) November 1. Additional details of the proposed merger can be found here, and as always, don’t hesitate to contact me with any questions or concerns.
Have a great week!  DakCU President/CEO
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