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News Archive

The League’s 2008 Year in Review: Part 2 of 3


In 2008, the importance of credit union advocacy became even more apparent when credit unions were again faced with the banking industry’s nationwide, grassroots effort to lobby, legislate and regulate credit unions out of business. Through ongoing advocacy efforts and programs like the 1 with The League initiative, The League:

 

  • Preserved credit unions’ federal and state income tax-exemption through lobbying and advocacy. The League also worked to kill a bank-backed, CRA-like state bill that would have increased credit unions’ compliance burdens and related costs.

 

  • Expanded credit unions’ involvement in the REAL Solutions effort, which helps demonstrate the “credit union difference” and the value of preserving credit unions’ tax exemption.

 

  • Illustrated the value of credit unions within the community with REAL Solutions like the brass|STUDENT PROGRAM and StretchPay, a turnkey payday loan solution.

 

  • Advanced a bill to improve security of the confidential data stored on members’ plastic payment cards.

 

  • Opened Credit Union House on the Capitol Square in Madison to strengthen credit unions’ voice among lawmakers. Wisconsin is now one of only two states to have such a facility in a state capital.

 

  • Expanded the number of Activists building pro-credit union relationships with members of the community, media and government to more than 900, while more than 500 Activists have now received specialized advocacy training.

 

  • Published full page ads in daily newspapers throughout Wisconsin to bring awareness to credit unions’ strong financial position, continued share insurance protection and ongoing availability of credit.

 

  • Provided sample communications to equip credit unions to continue “safety and soundness” messaging.

 

  • Equipped credit unions with print pieces and videos to explain the “Credit Union Difference.”

 

Part three of The League’s Year in Review series will look at how The League’s Compliance Department helped credit unions stay abreast of important regulatory and legal topics that could affect their income, member service, reputation and more.


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