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HARTFORD, Conn.-NCUA Board Member Gigi Hyland told participants at the Connecticut Credit Union Association’s Governmental Affairs Conference that credit unions need to define themselves and not allow the bankers or lawmakers to do it for them. “The window of opportunity is open, for a time, for credit unions to define themselves and dictate the argument, not bankers nor Capitol Hill,” she stated. Hyland stressed the importance of credit unions validating their service to all parts of their field of membership. She added, “There is nothing more important than advocacy at both the regulatory and legislative levels. It is crucial to make your voices heard and to emphasize your uniqueness in the financial services arena. The future of the credit union system is in your hands.” From her perspective, Hyland said, “As a regulator, I will take into account all comment letters received on proposed rules and assess them in making my decision. I will seek as much input as I can from credit unions while balancing a regulator’s main obligation to preserve credit unions’ safety and soundness.” The dual chartering system is another thing that must be preserved, she said in response to a question from the audience.

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