Should CEOs get involved in the health care debate and risk finding themselves on TV during one of those town hall meetings?
For Kelly McDonough, president/CEO of a Minnesota credit union, the answer is that CU managers have both a self-interest and obligation to speak out on an issue vital to national interest notwithstanding “the rudeness and shouting” that has occurred at many town halls.
McDonough, head of the $106 million First Alliance CU of Rochester, professes no interest in getting on TV, but she does have strong views about the need for CEOs to get immersed in health care reform issues considering the impact the proposed legislation could have on all nonprofits.
“Just look at what credit unions have experienced in soaring benefit costs,” said McDonough. “Over the last five years, the smallest increase in our health insurance costs was 9%, and it has gone as high as 26%. That’s something we can’t sustain.”
McDonough, a member of the political involvement committee of the Minnesota Credit Union Network,is planning to attend her first town hall gathering Aug. 20 in Mankato. She she was also hand-picked to participate in an Aug. 11 private meeting sponsored by U.S. Rep. Tim Walz (D) and held in a Rochester home. She joined a group of six of his constituents “offering their perspectives on America’s health care system,” she said.
McDonough, who favors many parts of the House and Senate bills, said the anger and vitriolic rhetoric displayed at the meetings have demonstrated the “misinformation that exists” on the legislation. Whether for or against it, CEOs should be informed and willing to speak out, she said.
Mark D. Cummins, president/CEO of Minnesota Credit Union Network, praised McDonough for meeting with Walz as an example of the legislative process at work.
“Through regular communications with elected officials, Minnesota credit unions aim to serve as reliable sources of information on issues that directly and indirectly affect the industry and its ability to serve members,” said Cummins. “Kelly’s relationship with Congressman Walz demonstrates the impact credit unions can have on the legislative process by simply meeting and forming relationships with elected officials.”
—jrubenstein@cutimes.com