Northwest Credit Union Leadership Encouraged on CFPB Advisory Council
The Bureau is again standing up a Credit Union Advisory Council, and applications are due May 5.
Northwest credit union leaders have an opportunity to help guide federal regulatory policy and consumer protection by serving on the Consumer Financial Protection Bureau’s Credit Union Advisory Council. The Bureau is accepting applications for the council through May 5.
“Here in the Northwest, where 7.3 million consumers belong to a credit union, and where we have some of the system’s most advanced charters allowing best-in-class services to those members, it’s critical that credit union leaders are at the table to monitor and weigh in on trends and practices in the consumer financial marketplace,” said Katie Clark, Director, Regulatory Affairs and Risk Management, Northwest Credit Union Association.
The Bureau is looking for experts with diverse viewpoints in the areas of consumer protection, community development, consumer finance, financial products and services, underserved community support, communities priced out of affordable housing, and economics. Criteria for the Advisory Council is online.
Amy Nelson, President and CEO of Portland-based Point West Credit Union, served on a previous CFPB Credit Union Advisory Council, and found it to be an inspiring experience.
“The mission-aligned work of credit unions from around the country drove change within our own organization, and I am so grateful,” Nelson said. “The boots-on-ground work of teammates at the CFPB was also inspiring. The team I worked with relentlessly pursued data to help drive solutions for challenges and levers for opportunities. I was inspired to go back to our credit union, and to our credit union community, to get them the data they needed to effect positive and durable change.”
Nelson said the time commitment required presence at two onsite meetings annually in Washington, D.C., and four quarterly subcommittee calls.
“However,” Nelson said, “the industry is best served when council members seek additional opportunities for engagement with the CFPB and the council at large, by pursuing planning calls that help organize action-oriented subcommittee meetings. I appreciated the CFPB for recognizing the best way to unleash potential was to let these engaged, mission-aligned committee members drive the conversation.”
The CFPB webpage includes instructions for applications, answers to frequently asked questions, and more information about all agency advisory committees.
“Your Association is here to help you will the application process,” said Clark. “If you are thinking about applying, please reach out and we’re happy to discuss how your qualifications may complement the Committee and advance the Credit Union Movement’s goals in the national regulatory advocacy environment.”
Those seeking Association assistance may reach Clark by email or by calling 503-350-2221.