The credit union movement achieved a notable legislative win when the final version of the National Defense Authorization Act (NDAA) for Fiscal Year 2020 was released without a provision that would have allowed certain banks to obtain cost waivers to operate on military installations.<\/p>\n
Throughout 2019, this fight to preserve the credit union difference\u00a0has been a major advocacy goal\u00a0for CUNA, state leagues, and credit unions. Advocates have maintained that banks \u2014 which profit off servicemembers to benefit Wall Street investors \u2014 should not be granted the same rent-free access afforded to credit unions that meet certain provisions in addition to delivering the not-for-profit mission and member-owned structure to bases at home and abroad.<\/p>\n
\u201cBy working collaboratively to remind lawmakers that the financial wellness of our servicemembers is more important than bankers\u2019 profits, credit unions have achieved a remarkable win for our mission and structure,\u201d said CUNA President\/CEO Jim Nussle. \u201cOur collective success in the FY 2020 National Defense Authorization Act is a defining example of what can be accomplished through credit unions\u2019 fierce, bold 360-degree advocacy.\u201d<\/p>\n
In addition to regular engagement with policymakers in both chambers of Congress, CUNA launched a grassroots advocacy effort to activate credit union members as the NDAA went to conference committee to work out differences between the Senate and House version. This led to more than 2,700 messages to lawmakers.<\/p>\n
Credit unions\u2019 advocacy exertions were featured in two of Capitol Hill\u2019s most-read publications,\u00a0Politico<\/em><\/a>\u00a0and\u00a0Bloomberg Government<\/em><\/a>.\u00a0<\/em><\/p>\n The League launched its own Call-to-Action and met individually with Congressman Bacon who served as member of the conference committee. The issue came also came up during a credit union roundtable with Congressman Bacon in October.<\/p>\n CUNA\u00a0and the state leagues successfully fought\u00a0against inclusion of a similar provision in last year\u2019s NDAA.<\/p>\n This policy achievement is the latest this year, along with delays in the implementation of costly CECL standards, a proposed raise by regulators in remittance reporting thresholds, and the House passage the SAFE Banking Act, allowing credit unions to invest in community safety while serving certain legal cannabis businesses.<\/p>\n <\/p>\n <\/p>\n ","protected":false},"excerpt":{"rendered":" The credit union movement achieved a notable legislative win when the final version of the National Defense Authorization Act (NDAA) for Fiscal Year 2020 was released without a provision that would have allowed certain banks to obtain cost waivers to operate on military installations.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts\/2779"}],"collection":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2779"}],"version-history":[{"count":0,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts\/2779\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}