Pre-Convention Roundtable Nets Strong Northwest Feedback for Obama Administration

Credit union leaders gathered in Tacoma for the Northwest Credit Union Association’s (NWCUA) Convention and Annual Business Meeting jump-started the event Monday by sending their input on the economy to the Obama Administration.

The leaders—CEOs and volunteer board members—were invited by the White House to attend a roundtable discussion facilitated by Calvin Goings, Regional Administrator of the Small Business Administration. It was one in a series of nearly 100 such roundtables underway across the nation—but only one of two in the northwest and unusual for giving credit unions an exclusive voice.

“The President made it very clear to us,” Goings said of the conference call to organize the roundtable, “that jobs are not created in Washington D.C. He wanted to hear directly from jobs and business creators.” Goings called the roundtable a “great dialogue” and noted it was meaningful to hear from credit unions, which are uniquely positioned to help “mom and pop small businesses at the Main Street level.”

“If credit unions grow, the entire economy grows,” NWCUA CEO John Annaloro  said about the discussion calling for an increase in the cap on Member Business Loans. Most of the invited audience members confirmed they would like to expand the business lending services they now offer.

NWCUA Board Chairman Bill Anderson reported that “the crush of regulation” was also front and center in the discussion. He quoted some attendees who said they spend considerable time and money keeping up with regulations and compliance, both of which could be spent better serving members. Legally, he said, “they have no choice, they have to go with compliance.”

Goings said he hopes northwest credit union leaders will see “tangible results” and said he expects to file a report on the northwest roundtable by next week.

Posted in Economy, Events, MAXX Annual Convention, NWCUA.