Select Highlights from This Year’s GAC with Cornerstone

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A Record-Breaking Legislative Briefing Ignites the Movement 

This year’s Cornerstone Legislative Briefing shattered records with 375 credit union advocates from five states coming together under one roof. The gathering was a call to arms against what many consider the gravest threat to credit unions in recent memory—the challenge to their tax status.  

“It’s the most significant threat we’ve had in years,” said Jim Phelps, EVP and chief advocacy officer.  

The briefing wasn’t just a meeting; it was a full-throated launch pad, equipping every advocate with the tools and talking points needed to make a powerful impact on Capitol Hill during this week’s critical visits. 

Punching Above Our Weight: CU Advocates Lead the Charge at GAC 

As the lawmaker visits kicked off Wednesday, 375 pairs of determined “boots on the ground” entered Capitol Hill’s corridors of influence. During one impactful meeting with U.S. Rep. Keith Self, led by Texans Credit Union President/CEO David Frazier, the conversation touched on the distinct role of credit unions, the challenges posed by interchange fees, and the need to safeguard our tax status and the independence of the NCUA.  

When Self noted that credit unions “are the middleweight class,” Frazier’s spirited reply, “Yeah, but we like to punch above our weight,” perfectly captured our resolve. 

On hearing the report of this meeting, Cornerstone League President/CEO Caroline Willard remarked, “Every 15-minute meeting is an opportunity to make a difference. As advocates continue their day-long engagements—from heartfelt discussions on fraud cost absorption to detailed debates on interchange fees—the energy in Washington is palpable. Each interaction, like the one with Rep. Self, demonstrates that while we may be ‘middleweights’ on paper, our impact is anything but.”

^{This week, Texas credit union leaders met with U.S. Rep. Keith Self (R-Texas) and many other lawmakers at Capitol Hill.}

A 360° Look at Interchange: Learning from the Past, Securing Our Future 

The painful lessons from the 2010 Durbin Amendment remind us that ill-conceived legislation can slip through unnoticed. This week’s session, “Interchange: A 360-Degree View,” brought together voices from The League of Credit Unions, Illinois Credit Union League, Tennessee Credit Union League, and Maryland | DC League. They shared real-life stories and strategic tips for engaging lawmakers on the complex issue of interchange fees.  

“Any penny that’s being diverted from the credit union is a loss for the consumer,” said Sydney Seral, chief advocacy officer at The League of Credit Unions, reinforcing the notion that constant pressure is essential to remind lawmakers that credit unions aren’t profit centers; they’re community lifelines.

Recognizing Cornerstone League

The World Council of Credit Unions honored Cornerstone League for our fundraising efforts over the years. Cornerstone Foundation accepted the award on our behalf on Sunday.