JUNE 17, 2016
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U.S. Capitol Seeking Improvements on Capitol Hill: GCUA Meets with Members of Congress (Issue 1 of 5)
GCUA leadership met with members of Georgia's Congressional delegation to educate them on issues important to credit unions and to seek members' sponsorship of legislation affecting the industry.

  CFPB Overhaul Bill with Multiple Credit Union Provisions
(Issue 2 of 5)

A bill to overhaul the Consumer Financial Protection Bureau, proposed by the chairman of the U.S. House Financial Services Committee, includes numerous measures that could have an impact on credit unions.

  Three Candidates of Credit Union Interest in July Runoffs (Issue 3 of 5)
Three candidates in the upcoming Georgia runoff election, including one who is a member of a credit union board, have demonstrated their understanding of and support for the industry.

  Save the Date – State Governmental Affairs Day January 24th (Issue 4 of 5)
The 2017 edition of GCUA's Grassroots Academy, scheduled for Jan. 24, 2017, will offer credit union advocates a full day's immersion in legislative issues, along with insight into the people who shape the political process.

  Credit Unions in the News (Issue 5 of 5)
The credit union message continues to spread, as evidenced by coverage of the industry in a wide range of media outlets, from newspapers to magazines to the broadcast media.

GCUA President and CEO Mike Mercer, left, confers with Georgia U.S. Rep. Buddy Carter (R-1st) in Washington, D.C.
Seeking Improvements on Capitol Hill: GCUA Meets with Members of Congress (Issue 1 of 5)

This week GCUA executive leadership met with members of Congress and key staff in Washington, D.C., to help pursue meaningful and positive legislation for credit unions. This short visit helped emphasize the work of credit unions in their districts, and educate the federal legislators on key bills that are good for the industry. The issues discussed included:

  • data security legislation,
  • multiple common-sense regulatory relief bills to reduce compliance burdens on credit unions,
  • avenues to expand member eligibility, and
  • the financial strength of credit unions through protecting the income tax exemption and leverage opportunities for other potential sources of capital for the future.

More than 15 separate pieces of legislation were discussed with the members of the Georgia delegation with the intent on securing more legislators from Georgia as co-sponsors. By reiterating what matters to credit unions from a legislative perceptive, it helps create opportunities for legislative success ahead.

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CFPB Overhaul Bill with Multiple Credit Union Provisions (Issue 2 of 5)

Overhaul Rep. Jeb Hensarling (R-TX) , the chair of the U.S. House Financial Services Committee, on June 7 unveiled his alternative to the Dodd-Frank Act, which contains a number of regulatory relief provisions for credit unions. Hensarling called for tailoring regulations to fit small financial institutions’ business model (as opposed to the current “one-size-fits-all” approach). The bill also seeks to move the CFPB under the appropriations process and replace the current director with a five-person board. It contains language from a number of CUNA-supported bills, including:

Hensarling’s bill is officially titled the Financial CHOICE Act, in which CHOICE stands for Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs.

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Three Candidates of Credit Union Interest in July Runoffs (Issue 3 of 5)

Voting is a personal and private issue for many, and often not even discussed among family members. However, it is important to have an informed decision before one casts their ballot, regardless of whom they choose to support. From a credit union perspective, part of being informed is knowing not only when the key elections are held, but who supports the unique needs of the industry. In the upcoming primary runoffs on July 26th, there are three candidates for federal and state offices in different geographic areas that are backed by GA CUPAC/CULAC due to their connection, their support, and their understanding of the industry. Below are the candidates, or you can click here for a one-page summary to share with your team and/or your board.

Drew Ferguson
West Georgia: Drew Ferguson
Drew Ferguson is in the Republican runoff for the only open seat in Georgia’s Congressional delegation – District 3 in west Georgia for the seat replacing U.S. Rep. Lynn Westmoreland (R). Out of the nine individuals running for the seat, Ferguson advanced to the runoff and is battling the previous state Senator from the area for the chance to face off against competition in November. Credit unions met with Ferguson on April 21st to discuss the industry and build a relationship with Ferguson early. He understands credit unions and the role they play in improving people’s lives and the value they bring to communities. He had been the mayor of West Point since 2008 before resigning to run for Congress, and was the only candidate in the race who sought to utilize time prior to the elections to get to know the credit unions in the area.

State Rep.
Tom Dickson
North Georgia: Tom Dickson
State Rep. Tom Dickson (R-Cohutta) is one of only four credit union board members in the state Legislature, and as a board member advocates for bills to advance the industry. If one ever wonders if a vote counts – he was just 16 votes shy of winning outright on May 24th. Even though he had the vast majority of votes, he faces a runoff due to multiple competitors. There is no competition in the general election; the Republican who wins on July 26th wins the seat. Credit unions would benefit from Dickson’s return to office as he is helpful in shaping the opinions of others in the House on the issues and bills specific to the industry. In this past session alone, Dickson was instrumental in procuring pro-credit union amendments and bills forward, and over the years has consistently supported the issues important to credit unions. A retired educator, Dickson has served in the Legislature since 2005 and serves on several key committees in the House, including the Rules Committee.

State Rep.
Darryl Jordan
South of Atlanta: Darryl Jordan
State Rep. Darryl Jordan (D-Riverdale) is an active member of the House Banking Committee, where several of the bills that impact credit unions are debated each year, and consistently supports the industry. Jordan faced multiple primary opponents and was just 77 votes short of winning outright, and faces tough competition. In the state Legislature, Jordan analyzes how bills impact the industry regularly in the session as he is a proud credit union member, and he seeks out the lobbying team to determine what bills are good for the industry prior hearings. There is no competition in the general election, so whichever Democrat wins in July wins the seat. A retired educator, Jordan has served in the Legislature since 2001, and in addition to the House Banking Committee he is a member of the Motor Vehicles Committee.

Not all districts will have a runoff election in July; please click here to check if there are any races on your ballot for July 26th. There was a markedly low percentage of people voting in the May primary, and even lower turnout is expected in July. By sharing who supports the industry with team and or board, credit unions have the opportunity to make a difference in any race!

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save the dateSave the Date – State Governmental Affairs Day January 24th (Issue 4 of 5)

While summer is just now under way, the cold weather of January will not be that far behind. Mark your calendars now for the 2017 Grassroots Academy, the state governmental affairs day for credit unions. Held downtown across from the Capitol, the day is an immersion into the legislative issues, the post-election world, and the new people and political players that can impact how credit unions operate. So save the date of January 24th today, and stay tuned for more details!

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NewsCredit 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."

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