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National Association of State Credit Union Supervisors (NASCUS) had a busy week at the 2023 Credit Union National Association Governmental Affairs Conference (CUNA GAC). Approximately 5,500 industry stakeholders gathered in Washington, DC, this year to discuss the pressing issues and challenges confronting the credit union system and broader financial services sector.
“There is a significant benefit to participating in this system-wide event for regulators and credit union stakeholders. This week was a deep dive into state and national networking, engaging and enlightening dialogue, and sharing of innovative solutions. NASCUS leads the regulator community in orchestrating meaningful leadership exchanges that bring value to their membership,” commented Katie Averill, Superintendent of the Iowa Credit Union Division/Director of Commerce and Vice Chair of the NASCUS Regulatory Board of Directors.
Throughout the week, the NASCUS Regulator Board and Credit Union Advisory Council held business meetings of the NASCUS Joint Leadership and held meetings with various NASCUS partners and system stakeholders. The NASCUS Regulator Board also held meetings with individual NCUA Board members.
“This event is a living illustration of ‘People Helping People’ and emphasizes the collaborative relationship between credit unions and regulators,” said Denice Schultheiss, Michigan Department of Insurance and Financial Services, Director of Credit Unions and NASCUS Regulatory Board Treasurer. “As a regulator, this productive dialogue and information-sharing are invaluable. An open exchange of perspectives enables our mutual desire to ensure safe, sound, and valuable credit union services to all members.”
These meetings provide an opportunity to coordinate with industry stakeholders, discuss our priorities and shared concerns within the state system, and identify opportunities for advancing NASCUS’s goals on behalf of our membership.
“As a credit union, our interactions with regulators are extremely beneficial. By maintaining an ongoing dialogue with regulators from across the country, our credit union has built long-standing relationships that allow us to achieve better results for the industry as a whole,” said Jeff Dahlstrom, President/CEO, Southeast Financial Credit Union and NASCUS Joint Advisory Council Chair. “This event allowed us to share thought-provoking ideas and participate in thorough, meaningful discussions with state and federal agencies, which we value and look forward to every year.”
In addition to meeting with NCUA leadership, NASCUS met with CUNA Mutual Group, the National Association of Credit Union Service Organizations (NACUSO), the National Association of Federally Insured Credit Unions (NAFCU), Inclusiv, and the American Association of Credit Union Leagues (AACUL).
Topics discussed during NASCUS’s meetings included:
- Needed regulatory and statutory changes that allow for healthy credit union growth and innovation challenges faced by Community Development Financial Institution (CDFI) designated credit unions, as well as related changes in the certification process
- Issues surrounding environmental, social, and governance (ESG) and the complexities of addressing climate change as a safety and soundness concern
- The need to maintain balance in the dual chartering system by matching NCUA’s proactive federal credit union field of membership changes
- NASCUS’s progress in developing the next generation of Interstate Branching/Interstate Activities protocols for state credit unions
- The need for coordination in the development of regulation and supervision of digital assets
- CUSO activities and advancements in Fintech
- The need to scale back preemption of state credit union regulations and re-establish states as the laboratories of supervisory innovation
- The cybersecurity threat landscape, risk mitigation, and more
“While NASCUS maintains regular communication with our members and system stakeholders, we enjoy the opportunity to meet face-to-face and share our perspectives with all industry partners,” commented Brian Knight, President and CEO of NASCUS.
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California Credit Union League/Nevada Credit Union League: CUs Have Productive Talks with Congress & Regulators
More than 300 California and Nevada leaders spent their week advocating for credit unions in meetings with congressional lawmakers and regulators in Washington, D.C., focusing on important issues that have ramifications for operations, guidance, their members, and the movement’s future. Read more
Carolinas CU League: Closing of 2023 CUNA GAC begins new chapter in advocacy for Carolinas CUs
The 2023 CUNA Governmental Affairs Conference has come to an end, closing just the latest chapter in in ongoing advocacy for Carolinas credit unions. Their meetings with members of Congress on Tuesday and Wednesday brought perspective on familiar issues, urgency on the greatest threats, and introductions in new relationships with freshman delegation members. Read more
Cornerstone wraps up GAC with Hill visits
As the GAC conference wound down, the 5,700 credit union attendees geared up to meet with lawmakers. More than 300 Cornerstone leaders participated in about 60 Hill visits on March 1–2. Read more
Dakotas Credit Union Association: Successful visits with Dakotas’ congressional delegation are highlight of GAC
Nearly 35 Dakota credit union professionals led by association staff made visits to Capitol Hill on Wednesday as part of Dakota Credit Union Association’s CUNA GAC agenda. Capitol Hill isn’t locked down quite as tight as it was last year when we were forced to navigate additional layers of security screening and be escorted from meeting location to meeting location by a member of our congressional delegation’s staff. I am very happy to report, we were able to roam a little more freely this year, which makes traveling from office to office on Capitol Hill much quicker and more enjoyable. We can’t thank our Dakota congressional offices enough for their help scheduling our meetings and for finding room for a group of our size! Read more
GoWest: Congratulations to the three Credit Union House Hall of Leaders Inductees
Three credit union leaders from the GoWest region have been inducted into the Credit Union House Hall of Leaders. They are among 23 individuals nationwide who were honored by Credit Union House LLC for their significant contributions to the credit union movement. The inductions were made in a ceremony during CUNA’s Governmental Affairs Conference in Washington, D.C. The Credit Union House Hall of Leaders provides lasting recognition for credit union leaders whose commitment has made a significant impact on the credit union movement at the local, state, or national level. Read more
Illinois Credit Union League
Video recap, watch here
LSCU Wraps Up Successful CUNA GAC
Last week, more than 300 advocates from Alabama, Florida, and Georgia travelled to Washington, D.C. to advance the credit union movement. This year marked a record-breaking Credit Union National Association Governmental Affairs Conference (CUNA GAC) with more than 6,000 people in attendance. Advocates met with key regulatory leaders as well as congressional members representing our tri-state footprint. Read more
MD | DC Credit Union Association: Highlights of Association Advocacy Activities at CUNA GAC
Credit unions and the Association connected with lawmakers and regulators — and celebrated the cooperative spirit! NCUA Board Member Rodney Hood was the guest speaker at the Association’s advocacy luncheon. He revealed that the NCUA will soon be announcing a refund of about $281 million to 2,900 credit unions from the Share Insurance Fund. Hood also reflected on the work the agency has done on CUSOs, loan participation rules, and support for Minority Depository Institutions as well as progress made on inclusion efforts with the establishment of the ACCESS Initiative and the annual Diversity, Equity, and Inclusion Summit which is now in its fourth year. Read more
Maine Credit Union League: Advocacy Shines at the CUNA GAC in Washington, DC
This week, representatives from 20 different Maine credit unions were in Washington, DC, for the Credit Union National Association’s Governmental Affairs Conference (GAC). This important event provided a critical opportunity for credit unions and league partners to network with each other and advance the credit union movement through the power of advocacy. Read more
Michigan Credit Union League: First-Time Attendees Share Their Experiences
This year’s trip to Washington, D.C. for the 2023 CUNA GAC included nearly 160 Michigan credit union professionals — about 40 of which were first-time attendees. CUNA’s five-day event offers attendees many opportunities to learn from speakers and breakout sessions, network with colleagues and, of course, advocate for credit union priorities. Read more
Minnesota Credit Union Advocates Inducted into CU House Hall of Leaders
The Minnesota Credit Union Network (MnCUN), the state’s trade association for credit unions, is pleased to announce that four Minnesotans were inducted into the 2023 Credit Union House Hall of Leaders in Washington D.C. last week. Inductees exemplify the “people helping people” philosophy and have demonstrated a commitment to inspiring others in the credit union movement. Read more
New York Credit Union Association 2023 CUNA GAC: It’s a wrap!
The 2023 CUNA Governmental Affairs Conference in Washington, D.C. wrapped up Wednesday with another day of visits by credit union advocates with New York state legislators. The day began with early morning meetings with the Democratic Tri-Caucus and members of the House Financial Services Committee, and a meeting with GOP legislators. Credit union representatives and New York Credit Union Association staff also met with several legislators and/or their staff during Wednesday’s hike. Read more
Utah’s Credit Unions: Successful Meetings on the Hill for CUNA GAC 2023
Last week, the 2023 CUNA Governmental Affairs Conference (GAC) was held in Washington, D.C. This conference is the credit union industry’s premier event bringing together leaders from across the movement to rally around a united case—to tell policymakers how their lawmaking affects credit unions and their more than 130 million members. Read more
Association of Vermont Credit Unions: CU Leaders Meet with Vermont’s Congressional Delegation
More than 55 Vermont credit union leaders attended CUNA’s GAC this week. On Wednesday, they advocated with Vermont’s congressional delegation during an AVCU-hosted group “Hike the Hill” luncheon. AVCU President Joe Bergeron introduced Senators Bernie Sanders and Peter Welch, and Rep. Becca Balint (click image to enlarge), each of whom addressed the group and engaged with credit union leaders in advocacy discussions. Read more
Virginia Credit Union League: Live from the GAC: Updates from Our Regulators
This week thousands of credit union staff, board members, leagues, vendors and more converged on Washington, DC for the annual CUNA Governmental Affairs Conference. It’s a great opportunity to engage with our regulators and lawmakers and get a sense of what issues are of high priority for them. On the main stage on Monday, CFPB Director Rohit Chopra had a dialogue with CUNA’s CEO Jim Nussle, followed by remarks from NCUA Chairman Todd Harper. Read more