Idaho, Arizona Advocates Garner Legislative Support for the State’s Credit Union Act Update Bills

Credit unions serving 1.3 million Idaho members showed up in a united force to meet with legislators at GoWest Credit Union Association’s Idaho Credit Union Day at the Capitol Wednesday—and before the day was over, legislators offered to co-sponsor a GoWest Credit Union Association-backed bill to update the state’s Credit Union Act.

“Parts of the state charter have not been updated in 47 years,” said Zach Forster, GoWest’s vice president, legislative affairs for Idaho. “While we have been successful in collaborating with the legislature to make several updates to the Act in recent years, we still need this year’s bill to help credit unions innovate better ways to serve members and provide fairer access for government entities to competitive investment opportunities in credit unions.”

Great progress is also reported in Arizona. Just one week after GoWest’s Credit Union Day at the Capitol event in Phoenix, Senator J.D. Mesnard (R-Chandler), introduced SB1296, which will make several modernization changes to the Arizona Credit Union Act.

The legislation is intended to address critical needs of Arizona credit unions in serving their members including:

• Ensuring the safety of credit union employees and members.

• Reducing unnecessary red tape that incurs costs for credit unions and, ultimately, burdens members financially.

• Freeing up capital, allowing for strategic reinvestment back into the membership.

The legislation has bipartisan support, noted Austin DeBey, GoWest’s vice president, legislative affairs for Arizona.

“We appreciate the support of our member credit unions, in meetings with the co- sponsors late last year, again last week at Day at the Capitol, and continuing as the bill moves forward,” DeBey said. “We’re working collectively towards a brighter future for Arizona credit unions.”

Troy Stang, GoWest’s President and CEO also lauded the work of member credit unions in advocating for legislative and regulatory initiatives.

“The fact that legislators are signing on to support credit unions’ priorities is evidence that advocacy moves the needle. Advocates’ continued engagements will help to move those priorities forward.” Stang said.

In addition to the Day at the Capitol events in Arizona and Idaho, four additional events are scheduled in the other states represented by GoWest as follows:

• Washington: Jan 30

• Oregon: Feb. 7

• Wyoming: Feb. 13

• Colorado: Feb. 22