|Credit Union Impact
on GA Primary Elections
(Issue 1 of 5)
The primary elections held very few surprises, with the majority of the incumbents winning by strong margins across the board. The turnout for the primaries, however, was notably light; under 20 percent of all Georgia voters cast a ballot. Credit union efforts in the elections held significantly high influence when one considers how few people voted, making the campaign work and PAC funds contributed all the more influential for the industry. Please click here to see the summary of the elections from the perspective of credit unions.
|CFPB Payday Proposal Released (Issue 2 of 5)
The Consumer Financial Protection Bureau (CFPB) on June 2nd released its short-term, small-dollar lending rule, an issue in which credit unions have been working to help mitigate any impacts to current lending operations. CUNA has been pushing the CFPB to tailor its rulemaking specifically to bad actors in the financial marketplace to protect credit union products and services, particularly in anticipation of other forthcoming bureau rules. CUNA has repeatedly urged the CFPB that the rule should not address NCUA Payday Alternative Loan (PAL) or similar state charter programs, as they are responsible loan products provided by credit unions to serve their members, and not add any additional regulatory burdens to consumer-friendly small-dollar loans. It appears that these types of loans will be exempted; however, the rule is being analyzed as of press time to determine how and if credit union products are affected.
Legislators and Credit Unions
(Issue 3 of 5)
A key factor in the ability to influence legislators is to have strong relationships with many elected officials, from federal to state, Republican to Democrat, leadership to those individuals coming up in the ranks. And when a legislator has an in-district connection to credit unions – a personal relationship with someone in credit unions – it carries much more influence on issues. Why? When legislators connect an issue with an individual from home, it resonates and places a personal aspect on the governmental affairs process. In the past two weeks, there were several of these connections made:
During the summer months many legislators hold in-district events (or attend events in the community) to connect with their constituents. Keep an eye out for opportunities to engage; when credit unions connect personally with their legislators in the district, it widens the grassroots connections the industry has and grows legislative influence.
|Tools for Your Credit Union
(Issue 4 of 5)
There is a wide variety of tools available on ElectionWatch for credit unions to engage in the elections and encourage staff and members to vote in the upcoming July 26th runoff and the November general election:
Ever curious about how legislators stand on issues of importance to the industry? Here you can find out how each of the 236 state legislators voted on the top bills of credit union interest in the 2016 session, and here for how federal legislators stand on credit union issues. During the last election cycle there were credit unions that shared this level of detail with their boards and staff to help encourage voter turnout in key races, and illustrate how elected leaders impact what credit unions can do today and in the future.
|Credit Unions in the News (Issue 5 of 5)
Credit unions continue to earn media coverage statewide and beyond. Whether it’s in a local newspaper, niche magazine or radio show, the credit union message is shared through a multitude of outlets across Georgia. Click here to see recent coverage of Georgia’s credit unions "In the News."