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Your Voice

As a FORUM Credit Union member your voice is important. FORUM Credit Union actively participates in the legislative process to represent the best interests of our Credit Union member/owners. There are important legislative issues being discussed every year that impact the products, services, and rates associated with FORUM accounts and services. FORUM speaks up to preserve the cooperative financial model for delivering financial services and you can too.

  • Sign up to receive notices from FORUM when key legislative issues are being discussed. Click here and select "YOUR FORUM."
  • Let your voice be heard on key issues by contacting your legislator about important credit union matters. Contact your legislators here.  
  • Share your Voice with FORUM. If you have credit union related political concerns you would like FORUM to share with CUNA and their advocacy team, let us know!
 

The foundation for credit union advocacy efforts throughout 2018 are focused on the below areas, which represent the input and guidance shared from credit unions across the country. 

Reduce Regulatory Burdens - Credit unions seek to reduce regulatory burden so that credit union members have access to more efficient and affordable financial services. In Washington, CUNA seeks to advance their vision for the CFPB under new leadership.

  • They want the CFPB to fix the burdensome rules it has implemented over the last several years and to slow the pace of new rules.
  • They also want the CFPB to transfer supervisory authority of the very large credit unions back to NCUA, retain the Credit Union Advisory Council, and make broader and deeper use of its existing exemption authority.
  • In individual states, CUNA stands ready to work with leagues in states where attorneys-general and legislatures may try to implement overly burdensome regulations.
Overall, credit unions are advocating for Common-Sense Regulation

Expand and Protect the Credit Union Structure - Working with CUNA's Credit Union Powers Subcommittee, CUNA is preparing legislation to modernize the Federal Credit Union Act.
  • They will continue to encourage NCUA to allow credit unions to use supplemental capital to comply with the risk-based capital proposal, using this as a pilot for additional supplemental capital authority.
  • CUNA wants to work with Congress to find a fix for the government sponsored enterprises that retains access to the secondary market for credit unions.
  • In the states, CUNA will work with Leagues to pursue legislation that puts more competitive pressures on the federal charter, including interstate branching legislation and field of membership modernization.
 
Enhance Payment Security -  Enhancing payment security to reduce the impact that merchant data breaches have on credit unions and their members is a top concern and priorty.
  • CUNA will continue to pursue legislation to subject merchants to strong data security and data breach notification requirements, and will continue to work with policymakers to strengthen the cyber infrastructure to protect consumer data from attack. Learn more about Data Breaches and ask your Congressional Representative to Stop the Breaches today. 
  • Importantly, CUNA will continue to aggressively pursue entities that have allowed consumer data to be exposed in court, as they did successfully in the Home Depot case and as they are currently in the Equifax case.
  • Across the country, CUNA will work with leagues that pursue data security legislation in their state capitols with the hopes that the pressure that can be put on them in the states will help to advance legislation in Washington.

Preserve the Credit Union Tax Status-  It is important to preserve the credit union tax status so that credit union members continue to enjoy not-for-profit cooperative financial services.Preserving the credit union tax status in the recently enacted tax reform law was an enormous victory for credit unions and their members, but there is more work to be completed.
  • The credit union tax status has nothing to do with institution size or service offerings – it arises from their unique structure as member-owned, not-for-profit organizations that return earnings to average working-class Americans.  Both small and large credit unions operate in this way – distinguishing characteristics that have not changed since passage of the Federal Credit Union Act of 1934. Read CUNA's most current white paper on the credit union tax status.