Credit Union Advocates Shine in Salem
March 14, 2013
March 14, 2013
Nearly 300 credit union advocates—members, volunteers and professionals alike—converged on Salem Wednesday to share the value proposition of credit unions with legislators.
While more than 250 advocates fanned out to meet with their regional Senators and House Representatives, dozens more were hands on in the Galleria with high school students in a live, Financial Reality Fair budgeting exercise visited by many of the lawmakers.
The credit union message was about structure, value and community. The credit union voice was strong against bank-lobby legislation aimed at adding additional tax and regulatory burdens on credit unions. Advocates reported positive responses from lawmakers, who clearly understood the not for profit, cooperative structure of credit unions is the reason for credit unions’ corporate tax exemption.
The advocates shared information with lawmakers about the value of the $121 million in direct benefits enjoyed by credit union members in Oregon last year, with some credit unions offering detailed breakouts of the savings they offer to local members.
While sharing stories of community involvement with lawmakers, the Reality Fair offered an on-site example as well.
Detailed analysis of Credit Union Day at the Capitol and a legislative update will appear in next week’s editions of Anthem. Social media highlights are posted online.
Questions? Contact a member of the Association’s Legislative Affairs team: