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Nussle Addresses Credit Unions at Opener for CUNA GAC
Monday, February 27, 2017 6:40 AM

In today's opening general session at Credit Union National Association's Governmental Affairs Conference, CEO Jim Nussle said credit union leaders don't need some legislator, regulator, or bureaucrat to tell us how to protect our members, because we do it every day.

He said a rigged system benefits those whom the agency was designed to impact. "Don't tell me that all of a sudden they're feeling the pinch of regulations," he said.

He went on to say that credit union voices have been heard at the National Credit Union Administration and that CUNA will make sure they continue to hear about the need for any regulatory relief that affects credit union members' financial futures. He also vows to protect credit union member data even when retailers can't or don't.

Credit unions, Nussle says, are our offense. "To get regulatory reform in 2017, we need you to be the tip of the spear."

"Grassroots is the reason we are number one with regard to advocacy among financial services," Nussle said. And he encouraged more communication. CUNA needs to hear from individuals—engaged individuals, he said. For CUNA to make a difference in regulatory relief, people simply have to engage.

He pointed to the new Campaign for Common-Sense Regulations, and said we already have a regulator in the NCUA; we don't need a second regulator in the CFPB.

Nussle emphasized that credit unions across the country are stronger together. He pointed to one national association in CUNA, the many leagues representing 50 states and Washington, D.C., approximately 6,200 credit unions, 6,000 credit union service providers, 58,000 board members, 273,000 credit union professionals, and 105+ million credit union members.

Nussle asks that credit union professionals begin conversations with their members so we can engage them in our battles with us. And he issued a challenge to credit unions: "I need you in this fight. I want us to be relevant for years to come, and I worry about that relevance. I want to win, and with your help, I'm convinced we can get that done."