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NAFCU’s Congressional Caucus continued Tuesday with several presentations exploring credit unions’ current operating environment – from the economy to CFPB regulatory efforts and legislative priorities. In addition, the association recognized the winners of 2023 NAFCU Annual Awards and 2022 Credit Union Challenge.

House Financial Services Committee member and credit union champion Rep. Brad Sherman, D-Calif., reiterated his support for the industry and his commitment to protecting credit unions’ tax-exempt status.

“Your members like you,” Sherman said, adding that politicians hear from constituents about the good work their credit unions do for them. Credit unions will continue to have broad support on Capitol Hill, “as long as you serve your members and they understand what the credit union movement does for them,” Sherman stressed.

He outlined several of his legislative priorities to help credit unions thrive, including removing the member business lending (MBL) cap to bolster small businesses’ access to credit, holding the CFPB accountable to tailoring regulations for credit unions and small financial institutions, and more.

In addition to legislative insights, attendees received an economic update from NAFCU Chief Economist and Vice President of Research Curt Long – who explained why the chances of a recession in 2024 are decreasing – and a rundown on the CFPB’s agenda from NAFCU Vice President of Regulatory Affairs Ann Petros. NAFCU continues to advocate against the CFPB’s war on Main Street and Petros called on credit unions to share how devastating these efforts are while advocating in Washington, D.C., this week.

Caucus also featured a celebration of credit union advocates, leaders, and volunteers who go above and beyond for the industry, recognized by the 2023 NAFCU Annual Awards and 2022 NAFCU/PAC Credit Union Challenge:

• White Hat Award Winner: Oregon State Credit Union
• Credit Union Challenge Winner – Under $250 Million: Arlington Community Federal Credit Union
• Credit Union Challenge Winner – Between $250 Million and $750 Million: ABNB Federal Credit Union
• Credit Union Challenge Winner – Greater than $750 Million: Visions Federal Credit Union
• Individual Credit Union Challenge Award: Ty Muse, president and CEO of Visions Federal Credit Union
• 2023 Paul Revere Winner: Brandee Bickle, vice president of governmental affairs and executive projects at Georgia’s Own Credit Union

Today, attendees will hear from several lawmakers on their efforts to support the credit union industry, a panel on the FedNow Service, and NCUA Vice Chairman Kyle Hauptman to wrap up Congressional Caucus.

Stay tuned to NAFCU Today for additional Caucus coverage and follow along on social media with #NAFCUCaucus.