|2016 Elections at the Federal Level: What Can Credit Unions Anticipate? (Issue 1 of 5)
The media (and social media) have been centered on the presidential race since well before the primaries, and continue to be solidly focused on it in the post-election. And while news organizations and political pundits alike have been weighing in on what they think the elections mean, what does this 2016 election mean for credit unions? For an in-depth look into the new administration and Congress, and what impact the changes may have on credit unions, utilize CUNA’s white paper on the results of the 2016 election. Highlights:
Time will tell on what will transpire. Some news outlets as late as this week have opined about the possibility that the CFPB will reorganized or dismantled, House Banking Chair Hensarling has announced he has changes for Dodd-Frank, and there have been multiple articles on what road may lie ahead for the Federal Reserve and interest rates. But what is known is there will be changes – making the consistent message from credit unions, Leagues and CUNA to Washington, D.C., as well as the regular connections credit unions have with members of Congress, all the more important in achieving legislative successes.
How Did Georgia Credit Unions Fare in the 2016 Federal Elections?
Nationwide, CULAC-supported candidates had a 96% success rate in the general elections, and in Georgia, 100% of the candidates supported by CULAC were successful in their bids for office. These Georgia races included all 13 incumbent Congressmen, one open House seat, and the Senate seat retained by incumbent U.S. Senator Johnny Isakson (R). In the open Congressional race for replacing U.S. Rep. Lynn Westmoreland (R-3), credit unions were one of the first industries to support the winner, Representative-elect Drew Ferguson (R-3), with whom credit unions met well before the primary.The elections also brought changes within caucus party leadership structure in Washington, D.C., and Georgia also has seen one of its legislators rise to the fifth-highest position with the U.S. House Republican caucus. U.S. Rep. Doug Collins (R-9) was elected this week as caucus vice chair, growing the level of influence the state has within the party. Thank you to the credit unions in the 9th District for building a relationship with Rep. Collins as soon as he was elected in 2013 to allow them to be in a good position now that he is in a leadership role!
|2016 State Elections and What to Expect in 2017 Session (Issue 2 of 5)
For the most part, this year the state races were the “forgotten fifth child” of the election cycle. Most of the attention has been centered around the presidential race, and any banter on the state elections was not from the perspective of 2016, but rather looking ahead to the 2018 elections, with names batted about for the governor’s race and others down ticket. Timing was also a significant factor in curbing most interest in state elections, as most of the races that were competitive were in the primary back in May, with 80 percent of the races already decided before anyone cast their vote in November’s general election. But while the media have paid little attention to it, there are multiple aspects from the elections that will influence the next session:
How Did Credit Union-Supported State Candidates Fare in the Elections?
While most districts were decided in the primary, Georgia did see an overall tightening of the more competitive districts. Four of these districts saw a reversal in party with one Democrat incumbent unseated and three Republicans unseated, and those tight districts that did not flip were close, particularly Rep. Brian Strickland (R-McDonough) and Sen. Hunter Hill (R-Atlanta). GCUA was engaged with both of these individuals with PAC dollars and offers of campaign support for these races given their help to credit unions during the session offering pro-industry amendments.
|State Continues Hearings on Data Security and FinTech Industry (Issue 3 of 5)
The state Legislature has held an influx of off-session study committees in 2016, which may be indicative of the pace that we may see in 2017 – legislators utilizing the summer and fall months to dig into issues as opposed to the three months of the session. GCUA has been engaged in over 10 separate hearings as of late, two of the most recent of interest to credit unions:
|Building Relationships with Newly Elected Legislators (Issue 4 of 5)
GCUA has been in interactions with newly elected state legislators, and on Monday, November 14th sat down with state Representative-Elect Sheila Nelson (D-Augusta) to grow her understanding of the industry and the positive impact it has on consumers, the unique manner in which credit unions are structured, and the legislative issues they face in the state Legislature. Rep.-elect Nelson was eager to develop her knowledge of credit unions and their priorities in the state Legislature, and their stance on bills and issues, and is requesting to be assigned to the House Banks and Banking Committee. Regardless what committees she receives, GCUA looks forward to growing her connection to the industry and thanks the Augusta area credit unions for generating this level of influence with their newly elected leaders!
|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."