Credit union champions impact policy for the better

Elections may get the most attention, but political affairs is a year-round undertaking. The groundwork starts immediately after the previous election’s results are announced with a look at what went well, what didn’t work, and how we can do better the next cycle.

This never-ending focus is needed because credit unions have a lot at stake with political affairs. An essential part of our advocacy agenda is having champions who support our policies and move them through the legislative process because this is about getting them—and keeping them—in office.

This year America’s Credit Unions, its PAC, and state Leagues are proud to support 379 credit union champions across the country from both sides of the aisle. They represent rural and urban districts and everything in between, but they all share a united belief in the power of not-for-profit financial cooperatives.

They’re the ones who work to create policy that will help credit unions serve more members, like Sen. Jon Tester, D-Montana. Sen. Tester and members from both parties created S. 2155, the largest piece of credit union regulatory relief legislation signed into law in nearly 25 years.

That’s just the most successful example of Sen. Tester’s work to advance the credit union mission, and why we’re proud to support him as he faces a tough re-election campaign.

Rep. Zach Nunn, R-Iowa, is a freshman member of Congress, also facing a tough re-election campaign.

He’s also such a strong believer in credit unions as the best vehicle to get these needed funds out that he introduced his bipartisan Community Development Financial Institutions Fund oversight bill at a Des Moines branch of Veridian Credit Union earlier this year.

Being a credit union champion isn’t always easy. It means standing up to Wall Street and the big box retailers who are always looking for a bigger piece of the pie at the expense of Main Street.

When a bipartisan group of members of Congress wrote to the Federal Reserve questioning the impact its debit interchange proposal would have on financial access for low- and moderate-income consumers, retailers pounced with an outreach campaign designed to discourage their support.

But they continue to stand with us, and that’s why we stand with our credit union champions when it counts.

They stand with us as for-profit banks attack our tax status with cherry-picked information designed to mislead. And they’ll stand with us as tax reform discussions become central with the 2025 expiration of many Tax Cuts and Jobs Act provisions.

Our champions will be critical allies in the fights ahead. Sen. Tim Scott, R-South Carolina, current ranking member of the Senate Banking Committee, could end up chairing the committee if control of the Senate flips.

He’s a former credit union board member, frequently meets with South Carolina credit unions, and has supported many of our legislative priorities.

Rep. Pete Aguilar, D-California, currently chairs the House Democratic Caucus, and could hold a leadership position if control of that chamber flips next Congress.

He’s a former vice president at a credit union and his door is always open to credit union advocates in his district.

Credit unions attract people who get into public service, and together we work to make people’s lives better.

This year’s election is an important chance to continue that legacy, and America’s Credit Unions, its PAC, Leagues, and credit unions are up for the challenge.