When Truliant Federal Credit Union Senior Vice President Ginger Salt was turned away from a recent town hall meeting with Rep. Patrick McHenry (R-N.C.) because of the overflow crowd, she wrote a note to him on her business card urging him to support legislation raising the cap on member business loans.
Salt, who regularly attends McHenry's sessions, signed the note "your favorite stalker."
Though McHenry hasn't taken a position on the issue, Salt said the frequent contact with lawmakers from the area will increase the likelihood of gaining their support.
"We are always looking for creative and unique ways, to make our point," said Salt, whose credit union is based in Winston-Salem, N.C.
She added that she plans to set up meetings with McHenry and Rep. Melvin Watt (D-N.C.) that will include business owners who have been helped by loans they received from credit unions. Both lawmakers are especially important on the issue because they serve on the House Financial Services Committee.
Salt's counterparts in other parts of the country are doing similar things.
From small group meetings in lawmakers' offices to town hall meetings, credit unions are using a variety of tactics to ensure that their views are getting a robust airing.
Elevations Credit Union President/CEO Gerry Agnes and executives of Norbel Credit Union and Sooper Credit Union met with Rep. Jared Polis (D-Colo.) to discuss the lending issue as well as other topics such as President Obama's proposal to create a new agency to regulate consumer financial products.
They received a mixed response from Polis, who is serving his first term in Congress.
"He was very interested and engaged on the issue and seemed receptive to the concept of expanding credit unions' lending authority," Agnes said of Polis.
Agnes said that while Polis listened to their concerns about the new agency-which center on fears about creating additional regulatory burdens-the congressman indicated he plans to support the agency and tried to assure the credit union executives that they won't be adversely affected.
Agnes added that Polis wants to learn more about the issue of interchange fees and how changing the law-as some lawmakers are proposing-would hurt credit unions' bottom line.
Congress may soon take up a measure introduced by House Judiciary Committee Chairman John Conyers (D-Mich.) and Rep. Bill Shuster (R-Pa.) that would allow merchants to negotiate interchange fees with card issuers.
The measure, which is similar to a bill passed by Conyers' committee last year but never considered by the full House, exempts credit unions regulated by the NCUA and financial institutions with under $1 billion in assets. Its sponsors say it would level the playing field.
Both credit union trade associations have been actively prepping their members for meetings with lawmakers.
NAFCU has sent each member of Congress a list of credit unions in his or her district and encouraged the lawmakers to visit some of them.
The association has had "quite a few'' lawmakers take them up on the suggestion and meetings are scheduled throughout August, said NAFCU Director of Legislative Affairs Brad Thaler.
CUNA has worked through the state leagues, which give them presence on the ground in every state.
CUNA Senior Vice President of Political Affairs Richard Gose said his group is "getting traction'' on all three issues but noted that it is under pressure because opponents on these issues are also quite active.
He noted that the Independent Community Bankers of America sent out an action alert urging its members to oppose raising the lending cap and that 7-Eleven Stores have organized a petition drive.
Gose added that the process is "locally driven" and while CUNA can and does help with the talking points, local groups are in touch with their members all the time and they are the most effective advocates.
Jim Phelps, the political and grassroots director of the Texas Credit Union League, said several of the league's chapters have hosted appearances by members of Congress. The league has prepared a one-page fact sheet on their positions that credit union officials can give to lawmakers after their meeting.
Phelps said credit union executives often focus on the excessive regulatory burden that credit unions face and encourage lawmakers to keep that in mind when voting on proposals that would add regulations.
"We remind them that credit unions didn't engage in the abusive practices that some of the proposals-such as the one for a new consumer agency-are trying to curb," he said. The league also encouraged credit unions to write to the Federal Reserve about the difficulty of complying with the notification rules on open-end credit accounts by the Aug. 20 deadline.
--cmarx@cutimes.com
Salt, who regularly attends McHenry's sessions, signed the note "your favorite stalker."
Though McHenry hasn't taken a position on the issue, Salt said the frequent contact with lawmakers from the area will increase the likelihood of gaining their support.
"We are always looking for creative and unique ways, to make our point," said Salt, whose credit union is based in Winston-Salem, N.C.
She added that she plans to set up meetings with McHenry and Rep. Melvin Watt (D-N.C.) that will include business owners who have been helped by loans they received from credit unions. Both lawmakers are especially important on the issue because they serve on the House Financial Services Committee.
Salt's counterparts in other parts of the country are doing similar things.
From small group meetings in lawmakers' offices to town hall meetings, credit unions are using a variety of tactics to ensure that their views are getting a robust airing.
Elevations Credit Union President/CEO Gerry Agnes and executives of Norbel Credit Union and Sooper Credit Union met with Rep. Jared Polis (D-Colo.) to discuss the lending issue as well as other topics such as President Obama's proposal to create a new agency to regulate consumer financial products.
They received a mixed response from Polis, who is serving his first term in Congress.
"He was very interested and engaged on the issue and seemed receptive to the concept of expanding credit unions' lending authority," Agnes said of Polis.
Agnes said that while Polis listened to their concerns about the new agency-which center on fears about creating additional regulatory burdens-the congressman indicated he plans to support the agency and tried to assure the credit union executives that they won't be adversely affected.
Agnes added that Polis wants to learn more about the issue of interchange fees and how changing the law-as some lawmakers are proposing-would hurt credit unions' bottom line.
Congress may soon take up a measure introduced by House Judiciary Committee Chairman John Conyers (D-Mich.) and Rep. Bill Shuster (R-Pa.) that would allow merchants to negotiate interchange fees with card issuers.
The measure, which is similar to a bill passed by Conyers' committee last year but never considered by the full House, exempts credit unions regulated by the NCUA and financial institutions with under $1 billion in assets. Its sponsors say it would level the playing field.
Both credit union trade associations have been actively prepping their members for meetings with lawmakers.
NAFCU has sent each member of Congress a list of credit unions in his or her district and encouraged the lawmakers to visit some of them.
The association has had "quite a few'' lawmakers take them up on the suggestion and meetings are scheduled throughout August, said NAFCU Director of Legislative Affairs Brad Thaler.
CUNA has worked through the state leagues, which give them presence on the ground in every state.
CUNA Senior Vice President of Political Affairs Richard Gose said his group is "getting traction'' on all three issues but noted that it is under pressure because opponents on these issues are also quite active.
He noted that the Independent Community Bankers of America sent out an action alert urging its members to oppose raising the lending cap and that 7-Eleven Stores have organized a petition drive.
Gose added that the process is "locally driven" and while CUNA can and does help with the talking points, local groups are in touch with their members all the time and they are the most effective advocates.
Jim Phelps, the political and grassroots director of the Texas Credit Union League, said several of the league's chapters have hosted appearances by members of Congress. The league has prepared a one-page fact sheet on their positions that credit union officials can give to lawmakers after their meeting.
Phelps said credit union executives often focus on the excessive regulatory burden that credit unions face and encourage lawmakers to keep that in mind when voting on proposals that would add regulations.
"We remind them that credit unions didn't engage in the abusive practices that some of the proposals-such as the one for a new consumer agency-are trying to curb," he said. The league also encouraged credit unions to write to the Federal Reserve about the difficulty of complying with the notification rules on open-end credit accounts by the Aug. 20 deadline.
--cmarx@cutimes.com
