Advocacy is Critical to Credit Unions' Success
Credit unions' operating environment and ability to serve members is affected by policymakers and the process by which their actions become the requirements credit unions must follow. Your League and the Credit Union National Association (CUNA) are united with credit unions in a 360-degree approach to advocacy that gives our Movement a voice at every point in the process. As constituents and Activists, YOU can impact the outcomes.
Engaging in the Process
Activists engage, communicate with, and persuade policymakers through:
- Political advocacy - with candidates and campaigns, to impact who gets elected or rises to higher positions of leadership
- Legislative advocacy - with elected officials to pass or block laws that affect The Movement
- Regulatory advocacy - with regulators or examiners on the ways in which laws or regulations are enforced or interpreted
- Compliance - helping credit unions navigate operating within the letter of the law, rule, or regulation
- Communications - encouraging credit unions to promote their service to members and communities to build better understanding of The Credit Union Difference with policymakers or highlight the ways that certain laws, regulations, or compliance processes impact member service
Why it matters
Policymakers make decisions that can positively or negatively impact your credit union. Without advocacy and supportive legislators, The League's prize-linked savings program Saver's Sweepstakes® would not be a reality. On the flip side, reining in over-regulation is critical. The cost of regulation for Wisconsin credit unions often causes credit unions to shift resources away from other opportunities such as:
- Enhancing alternative delivery channels
- Building capital
- Staff development
- Offering better deposit or loan rates
- Additional marketing
- Adding new locations
Opportunity at every point
Lawmakers, regulators, laws, and rules change. One thing remains: Activists are the experts on what credit unions do and offer. If we don't engage with the people and on the policies that matter, who will stand up on behalf of our Movement?
By sharing stories that illustrate the value credit unions provide to our members and communities, fundraising for credit union-friendly candidates, and commenting on proposed or revised regulations, we can improve credit unions' ability to serve members.