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State regulatory reform removes barriers to Wisconsin credit unions' success

Activists took down barriers as part of the state GAC

 

Wisconsin credit union Activists continued removing barriers during the GAC by:

 

  • Completing more than 600 visits with state lawmakers or their staffs

 

  • Distributing to legislative offices their new Wisconsin Credit Union Scorecard to showcase their success serving members and social responsibility in their communities.

 

  • Gaining an overview of top industry advoacy issues from Ryan Donovan, SVP of Legislative Affiars for the Credit Union National Association (CUNA).

 

  • Acquiring ideas to tell their own service success stories from The Filene Research Institute's George Hoffheimer and practicing their 1 minute "elevator speech" about the importance of their credit union's impact.

 

  • Participating in panel discussions aimed at improving their advocacy skills. Ideas were shared by Heather Berlinski of the Kammer Group, Sarah Wainscott of The League's Government Affairs Department, Jeff Buhrandt, Chief of Staff for State Senator Bob Jauch, David Grace of Grace & Associates, Christopher Roe of CUNA Mutual Group and David Feldhaus of the Federal Home Loan Bank of Chicago.

 

Check out the 2014 state GAC photo album on Facebook!

 

Many thanks to GAC sponsors:

 

Diamond Sponsors: CUNA Mutual Group & Corporate Central Credit Union

 

Platinum Sponsors: Federal Home Loan Bank of Chicago & La Macchia Group, LLC

 

 

Removing barriers that impede their success is key to credit uions' national "Unite for Good" strategy for growth. Wisconsin credit unions' latest achievement in doing so came the week of The League's Government Affairs Conference (GAC) in Madison, as the state legislature approved the largest state regulatory reforms for credit unions in more than a decade. They now move on to the Governor for his consideration.

 

The legislation, AB 649 and SB 520, are identical bills that address 12 of 20 sections of the state's Administrative Code governing credit unions.

 

The changes update out-of-date, contradictory or simply unnecessary notations, phrases or sections of the code.

 

While no single change in the bills may be pivotal in and of itself, passage of this package will yield regulatory improvements and operational changes reducing a small portion of the regulatory burden on state credit unions.

 

This legislation—whose primary authors are Rep. Dave Craig (R-Bend) and Senator Frank Lasee (R-Belleview)—was initiated as part of the State Assembly Financial Institutions Committee’s ‘Right the Rules’ effort.

 

Work on these bills began early last summer and represents an agreed-upon proposal between The League, key lawmakers, the Office of Credit Unions and the Department of Financial Institutions.

 

The bills passed through committee on unanimous, bi-partisan votes.

 

If you have any questions, please contact Tom Liebe, VP of Government Affairs, at (608) 514-0082.

 

 


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The Unite for Good effort is an internal growth strategy developed by CUNA in conjunction with its Board, state leagues, credit unions and system partners. The plan's action steps – to remove barriers, increase awareness and foster service excellence–are aimed at helping more credit unions become their members' primary financial institution by compelling members to see credit unions as their best financial partner. Read more articles in our Unite for Good series.