Federal Advocacy

Our Key Issues

Credit unions exist to serve and advance communities. It’s not just our mission, it’s our congressional mandate. To continue to support the financial well-being of all we are focused on the following issues:

Preserve the Credit Union Tax Status

Credit unions’ member-owned, not-for-profit cooperative structure puts members ahead of the bottom line. With no outside stockholders, credit unions are able to leverage their tax status, saving members $13.5 billion annually. Credit unions account for nearly $29 billion in local, state and federal taxes annually. The $2 billion that Congress invests in the credit union tax exemption generates more than $208 billion in economic impact every year.

Protect Consumer’s Credit Cards

Consumers nationwide rely on credit cards to make life happen, from paying for groceries to covering emergency car repairs or medical expenses. Accepted nearly everywhere, credit cards offer robust security, fraud protection and access to credit that may not be otherwise available. Interchange fees, which are only a fraction of a cent per dollar transacted, ensure that consumers have safe, reliable transactions, merchants are made whole at the time of sale and privacy standards protect consumer information.

Right-size Regulations for Credit Unions

Credit unions have different requirements and rules than for-profit financial institutions. Regulatory changes should focus on commonsense efforts and fully consider the impact on consumers. Consumers lose when their credit union must divert resources to keep up with overly burdensome regulations designed for big banks. Rules affecting credit unions must always consider the unique structure, requirements and needs of our members.

Data Breaches

For over two decades, financial institutions have met the stringent data security standards required by the Gramm-Leach-Bliley Act. However, other entities that collect and process consumer information are not held to the same standards, putting sensitive personal data at risk and leaving consumers vulnerable. We continue to urge lawmakers to protect consumers and credit unions by focusing on three areas: notification standards, data security standards and the right to sue for damages for financial institutions that bear the cost of a breach.

CULAC

Relationships matter. That’s why the Credit Union Legislative Action Council, or CULAC, is so vital to credit unions, their employees and their members. By contributing to CULAC, you help get credit union champions elected to Congress – and help keep them there, where they will fight to ensure that credit unions remain the best financial services option for consumers.

Who can contribute?

CUNA-affiliated credit union members and employees with a current signed Permission Agreement with their state league/CUNA are eligible to contribute to CULAC.

How to contribute

Payroll deduction allows you to make a significant impact by contributing a little each pay period. It’s an easy and convenient way to invest in the future of credit unions. Simply download the Payroll Deduction Form.

Learn More

Lawmakers

• U.S. Senate, Maryland
• U.S. House of Representatives, Maryland
• U.S. House of Representatives, District of Columbia

Regulators

• National Credit Union Administration
• Consumer Financial Protection Bureau 

System Partners

• CUNA
• Advancing Communities

Questions?

Contact: Rory Murray, VP of Advocacy
Rmurray@mddccua.org