NAFCU sends congressional leaders 2020 priorities
NAFCU President and CEO Dan Berger this week sent the association's 2020 priorities directly to congressional leadership and members of both the Senate and House. The letter – addressed to Senate Majority Leader Mitch McConnell, R-Ky., Senate Minority Leader Chuck Schumer, D-N.Y., House Speaker Nancy Pelosi, D-Calif., and House Minority Leader Kevin McCarthy, R-Calif. – shared NAFCU's just-released priorities as Congress returns for the second session of the 116th Congress.
NAFCU lobbyists are also on Capitol Hill this week greeting members and discussing the association's priorities.
"Each year, the NAFCU Board, made up of credit union CEOs from across the nation, identifies the top issues in the upcoming year that impact credit unions and establishes the tenets that are important to the industry," Berger wrote to Congress. This year's priorities include:
- Growth: Supporting legislation and regulation that helps credit unions grow membership, loans and retained earnings.
- Fair and Innovative Market: Fighting back against meritless banker attacks, promoting innovation and establishing regulatory standards for fintech and data security.
- Regulatory Relief: Providing clear rules of the road and streamlining regulation that allows credit unions to put more resources towards serving members.
- Strong NCUA: Pressing for the NCUA to be the sole industry regulator and fostering a strong relationship with NCUA to ensure credit unions' voices and concerns are heard.
- Tax Exemption: Preserving credit unions' federal tax exemption in order to keep focus on members, not profits, and save U.S. consumers $16 billion annually.
- Transparency: Encouraging government transparency and accountability to ensure taxpayers' and credit unions' dollars are used responsibly and rules are tailored appropriately.
NAFCU, as the credit union industry's Washington Watchdog, works closely with Congress and other policymakers throughout the year to address these issues. As a result of the association's bold advocacy efforts in 2019, credit unions saw several legislative and regulatory wins, secured high-profile meetings, and developed forward-looking resources to ensure the industry's continued growth.
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