X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARLINGTON, Va. — In one of his first moves as NAFCU’s new chairman, Campus Federal Credit Union President and CEO John Milazzo is encouraging member credit unions to get more active while their representatives in Washington are out in their home districts. Congress traditionally takes the month of August as a “district work period,” and members will be working hard this summer given some of the tight primaries going on as well as in preparation for the general elections ahead. Milazzo, whose Baton Rouge-based credit union is politically active statewide given its network of branches, explained that NAFCU has always encouraged its members to meet with their members of Congress while in their home districts. However, he added, “We did take it up another notch this year.” The chairman sent a bulletin out earlier this month to the entire NAFCU membership encouraging the credit union executives and officials to meet with their members of Congress during the August recess. Milazzo explained that lawmakers are on more familiar turn and may be more relaxed since they are not running off for votes as they often have to do in Washington. It is all about opening the door when opportunity knocks, he said. “Why is this important? It is important for several reasons,” the bulletin read. “First, not everyone gets the opportunity to meet their Representatives. Second, this is your opportunity to make sure your elected officials know who you are and what your credit union is doing for the community you serve. Third, this is a perfect opportunity to discuss the legislative issues that are important to you and your credit union. Lastly, this time in the district will give you the opportunity to say thank you for their hard work.” Regulatory relief is just one example of something credit unions can discuss with their lawmakers. Milazzo wrote, “If Congress increases the thrifts’ business loan limits then it should increase those same limits for credit unions.” On NAFCU’s Web site (www.nafcu.org), the group lists out for members the several provisions that are credit union friendly in the bill and explains the differences between the House bill, which includes a large number of relief items for financial institutions, and the Senate bill that contains about four for each. The House and Senate are currently trying to come to an agreement between the two bills; the Senate just recently balked at a House proffer. After the August recess, there are only 14 legislative days scheduled before elections. Credit unions can also urge them to co-sponsor the Credit Union Regulatory Improvements Act (H.R. 2317). NAFCU’s site provides the various items expanding credit union powers or offering relief in this bill as well. Milazzo also suggested these meetings as a way to combat the constant banker attacks. In addition, members of Congress like background sources for information on the various legislative issues they deal with on a daily basis. “I think it is a mutually beneficial relationship,” he emphasized. He added in a subsequent interview that Campus FCU has been particularly politically active, “maybe more so in the last 10 years.” Milazzo said that he would be interested in initiating a political action committee at his credit union when fiscally feasible. NAFCU President and CEO Fred Becker said the member bulletin is just the first in a series planned, the second of which is currently in the works. “Our members are our biggest and our best lobbyists,” he stressed. While members of Congress are back in their districts, NAFCU’s lobbying staff will still be working with Hill staffers that stick around, but are also willing to help out NAFCU members if they want to discuss their meetings with their representatives further.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.