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From the CEO
March 29, 2019

Dear members:

On March 11-13, we once again attended the annual CUNA Governmental Affairs Conference (GAC) in Washington, D.C., the biggest advocacy event of the year for our industry. The GAC brings together advocates on behalf of America’s credit unions and the industry’s 115 million members. It was a record-breaking year, in fact: More than 5,200 credit union leaders from all 50 states attended. This number included 100 young credit union professionals invited to “crash the GAC,” and it was wonderful to have so many opportunities to interact with them. Two of our own employees were selected as “crashers” this year, and you can read about their experiences here.

America’s Credit Unions

  • 115 million Americans are credit union members.
  • Credit unions provide $12 billion in financial benefits to members annually.
  • Credit union business loans created more than 315,000 new jobs in the last 10 years.
  • One-size-fits-all regulations cost $6.1 billion or an average of $115 per credit union member-household each year.
  • 1 in 5 employees’ time is spent on regulatory compliance, and 75% of regulatory expense is staff cost.
Source: CUNA 2019 Advocacy Briefing

I also thoroughly enjoyed meeting and chatting with those of you who stopped by our booth during exhibit hours. We again exhibited Corporate One’s solutions for credit unions, supported Sherpa Technologies with the exciting rollout of their brand-new identity verification solution, ID-Pal, and hiked Capitol Hill to meet face-to-face with senators and house representatives. We know it’s critical to highlight important credit union initiatives, to discuss how regulations may be costly hindrances to serving members appropriately, and to communicate the positive impact we make on our members' financial lives.

There are many other important issues and topics that credit union members discussed with legislators during the GAC, and I urge you to work with your state’s league to stay informed and be a proactive advocate for our industry. If you’d like to do more, you can start by going to CUNA’s Grassroots Action Center to contact your state legislator and send them a personal letter, or just contact your state credit union league for more tools.

Melissa Ashley