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Reps. McHenry and Budd thank CUs for stepping up during COVID-19
Attendees of NAFCU’s hybrid Congressional Caucus Tuesday received gratitude from House Financial Services Committee Member Ted Budd, R-N.C., and Ranking Member Patrick McHenry, R-N.C., for their efforts in guiding the industry’s 127 million credit union members during the pandemic crisis.
“[Credit unions] provide unique and necessary services, and that’s why I am always happy to fight to make it easier for your institutions to serve and fight for your members,” said Budd, who works with many credit unions across the country and especially those in North Carolina, to attendees.
Budd has advocated for several legislative efforts aimed at helping credit unions, including sending a letter to the Federal Reserve urging against the reopening of the Dodd-Frank Act’s Durbin Amendment rulemaking. “Financial institutions have been on the front lines of the pandemic, helping members with all needs,” said Budd, “I plan on continuing to stand up for consumers and the institutions that serve them.”
Additionally, McHenry discussed the importance of a regulatory framework that fosters innovation, stating that “right touch regulation” is what credit unions need and encouraged credit unions to be technology permissive rather than skeptical.
“[Credit unions] play a critical role in getting our economy back on track and helping families make longer term decisions in choppy water right now,” remarked McHenry.
Visions FCU and Lake Trust CU announced as NAFCU award winners
Lake Trust Credit Union’s Becky O'Connell was announced as the 2020 NAFCU Paul Revere Award recipient. The Paul Revere Award recognizes a NAFCU-member credit union advocate who goes to great lengths in his or her grassroots and political efforts.
Visions Federal Credit Union’s Ty Muse was awarded the 2020 NAFCU White Hat Award. The White Hat Award is given to the NAFCU member credit union that raised the most money for NAFCU/PAC in the previous year.
The third and final day of Caucus kicks off today, both in-person and virtually; view the agenda here.
Follow along on Twitter with #NAFCUCaucus for live event updates