I am honored to take up the reins as CUNA chairman from Rod Staatz this week. Rod led the board, and Susan Streifel before him, through one of the most consequential periods in CUNA's history. With their leadership, we modernized our membership structure, re-examined our purpose, worked tirelessly to identify how best to meet the rapidly changing needs of the credit unions we serve while continuing to deliver even bolder and more interdependent advocacy.
I also have the privilege of leading the Iowa Credit Union League. The Iowa League and CUNA work closely to support the more than one million credit union members in my state. In Iowa, more than 3,200 credit union employees work hard every day to deliver more than $100 million in direct annual savings to members compared with what they would have had to pay at a bank. That's real money!
I'm also proud of the track record of success we've built working with other leagues and CUNA to advance the best interests of credit unions across the country. The CUNA/League system is unmatched. In fact, research conducted by the National Journal named the CUNA/League system the number one financial trade association studied in terms of advocacy influence. Together, we get things done.
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That influence paid off last year and is already helping this year with a new Congress and administration in the White House as we move forward with our Campaign for Common-Sense Regulation. We are united in our call for a move away from one-size-fits-all rules that are harming the ability of credit unions – many in my state, but across the country – to offer the financial services their members depend on to buy a home, build a business, or even meet the everyday demands of life.
In Washington, credit unions, led by the CUNA/League system, continue to make progress on field of membership rules, exam cycles, NCUA budget transparency, NCUSIF premiums, stabilization fund refunds, Military Lending Act rule changes, Department of Labor overtime rules and modernization of the Telephone Consumer Protection Act.
In the states, leagues have worked closely with CUNA on state charter enhancements and other state rules. And we've been united in our fight against bank attacks. Iowa is one of several states where the banks have been particularly hostile to credit unions – challenging our not-for-profit state tax status, charter and other operating rules.
We have had a great partnership with CUNA in fighting back against the big banks. We've conducted consumer surveys and mounted campaigns on TV, radio and social media to challenge the Wall Street bank-funded attacks. We've also partnered to support the election of credit union friends to Congress with CULAC donations and independent expenditures supporting candidates.
The new membership rules that CUNA's membership approved last year has strengthened the work of CUNA and its league partners. It has clarified roles and helped our members achieve more, empowering credit union growth at all levels.
There's no question that I've got a tough act to follow as Rod concludes his term as CUNA chairman. I am committed to doing whatever I can this year to advance the cause of credit unions by working with Jim Nussle and his capable team to be the best champion for America's credit unions – bar none.
I firmly believe that by acting together, we can have a powerful impact on policy that affects our financial lives.
We are stronger together.
Pat Jury is president/CEO of the Iowa Credit Union League and chairman of CUNA. He can be reached at 800-860-6180 Ext. 3002 or [email protected].
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