Following merger, Cooperative Credit Union Association and Delaware credit unions meet for first advocacy meeting
MALBOROUGH, MA (July 15, 2016) – The Cooperative Credit Union Association (CCUA) held its first Delaware Advocacy Committee meeting on July 8 in New Castle, Delaware, marking the week-long anniversary of the merger that brought the Delaware Credit Union League into the bosom of the CCUA.
Led by CCUA President Paul Gentile, the meeting attracted a large turnout from credit unions across the state and involved discussions on committee governance, key state and federal issues, and grassroots activities.
Guest speakers from the Credit Union National Association helped educate credit unions on the following outstanding federal issues: modernization of examinations, including extended review cycles and modernization of appeal reports; executive compensation; membership area; implementation of the Financial Accounting Standards Board; payday loans; the Home Mortgage Disclosure Act; and upcoming regulations for TRID (Truth in Loans Act and Real Estate Settlement Procedures Act). In addition, Betsy Cole, administrator of the Delaware Credit Union Legislative Action Council (CULAC), provided an update on recent activity.
“True to the Cooperative Credit Union Association model, all advocacy issues are driven by local credit unions in the states we serve. This first meeting in Delaware took place just one week after the merger closed and underscores our goal of providing strong local advocacy led by our members, ”said Gentile.
The committee agreed:
- Membership in the group will be open to representatives of the credit unions of CCUA members in Delaware.
- A state legislative advocacy day will be hosted with the Delaware General Assembly.
- State legislative oversight and emphasis on securities lending, collections and price savings will be strengthened.
- A survey of key contacts will be disseminated to members to compile a database of individuals who can convey important and sometimes urgent effective messages to lawmakers for future advocacy.
- Further involvement in the Postal Code project will be planned.
Gentile reported on his communication with Senators Tom Carper and Chris Coons seeking support for communication with the Office of Consumer Financial Protection requesting greater use of its exemption power for credit unions . Participants were invited to add their voice to this request. Gentile noted that the exemption authority will be a key topic at the CCUA’s Hike-the-Hill event September 14-15 in Washington, DC.
Photo Caption: Left to Right: Pat Mahaney, Senior Vice President, Delaware Operations, CCUA; Jerry King, President / CEO of DEXSTA FCU; Chaz Rzewnicki, Vice President, Member Services, Dover FCU; Betsy Cole, Chairman of the Board of Directors of AllyFed and Director of CULAC; the president of the CCUA, Paul Gentile; Evelyn Vega, Manager, Wilmington Police and Fire FCU; George Fitzgerald, volunteer, Community Powered FCU; and Dover FCU Chairman and CEO David Clendaniel.
About the Association of Credit Unions
The Cooperative Credit Union Association is a regional business organization that is the voice of nearly 200 member credit unions primarily located in the states of Delaware, Massachusetts, New Hampshire, and Rhode Island. CCUA member credit unions have combined assets of over $ 45 billion and serve a collective member base of over 2.3 million consumers. It is on behalf of these member credit unions that the CCUA advocates before Congress and state legislatures, regulators and the general public through its Better Values — Better Banking consumer awareness campaign. In addition to advocacy, CCUA also engages its member credit unions with a range of industry resources, compliance assets and marketing support to approved products and service providers; educational workshops and conferences; and, a variety of communications, from a daily electronic newsletter to educational video programs. For more information visit www.CCUA.org.
Cooperative Credit Association