NAFCU lobbyists spent the first day of the 113^thCongress working Capitol Hill, sending its legislative team to dropin on lawmakers, especially freshmen, and attend swearing inceremonies.

President/CEO Fred Becker, Executive Vice President ofGovernment Affairs Dan Berger, Vice President of LegislativeAffairs Brad Thaler and lobbyists Quincy Enoch, Jillian Pevo andDan O'Brien visited dozens of lawmakers Thursday, including Sens.Elizabeth Warren (D-Mass.), Jon Tester (D-Mont.), Roger Wicker(R-Miss.), and Reps. Ed Perlmutter (D-Colo.) and Richard Hanna(R-N.Y.)

The lobbyists talked up key industry issues, especially the needto preserve the credit union federal income tax exemption.

Also Thursday, a letter from The Military Coalition was makingthe rounds on Capitol Hill in support of a tax-free status forcredit unions. The group of uniformed services and veteransassociations said they represent more than 5.5 million people andreminded Capitol Hill leadership, including the Senate FinanceCommittee and House Ways and Means Committee, that some 200defense credit unions provide honest financial products andservices to military families, and also provide financial educationand counseling in branches on base.

The $52 billion Navy FCU of Vienna, Va. and the $15 millionPentagon FCU of Alexandria, Va. are the country's largest and thirdlargest credit unions, serving a combined 5.2 million members. Navyreported a $560.7 million net profit as of September 2012,according to its 5300 call report.

“The credit union federal income tax exemption is of criticalimportance because it benefits all Americans, not just those whobelong to a credit union. Loss of the exemption would cost thefederal government $15 billion in lost tax revenue, $148 billion inGDP and 1.5 million in lost jobs over the next decade. Inaddition, due to reduced competition, consumers would face higherinterest rates on loans and lower interest rates on deposits,” saidBecker in a release.