Lydia Wedlock, editorial assistant, The Credit Union Connection
The 119th Congress began just a short time ago, and credit unions have plenty of work ahead of them to advocate the credit union cause, namely, Don’t Tax My Credit Union. America’s Credit Unions Vice President of Legislative Affairs at Brad Thaler and Legislative Advocacy Directors Stephanie Belk and Gordon Holzberg, and Co-Founder & Principal at Federal Hall Policy Advisors, Cliff Roberts told credit unions how they can effectively advocate in the 119th Congress at the GAC 2025 in Washington, D.C.
Talking to Both Parties
“As you know, Republicans control Congress and the White House,” Roberts said. “It’s only happened 22 times in our nation’s history, so it is historic in that regard. And as far as the margins are concerned, this is the slimmest margins that we’ve had in modern times.” Because of that slim margin, from the Republican perspective, it will be difficult to get legislation passed.
According to Holzberg, Democrats are still coming to terms with their overall election loss and figuring out which direction to take the party next. Regardless of your representative’s political party, it will significantly affect how you should lobby them.
Protecting the Credit Union Tax Exemption
Of course, the big issue of the day in credit union world is the protection of the tax-exempt status. During the discussion, Belk pointed out how removing the exemption places an additional tax on their constituents. She also added that it’s critical for credit unions to share the stories of the work they’re performing in service to their members and communities. The savings from the tax exemption is how credit unions can offer lower-cost loans in low-income and underserved areas among other things.
Bipartisanship Matters
Credit unions’ political support has always been determined by members of Congress’ views on credit unions rather than their political party. With the margins in the House and Senate being as razor-thin as they are, bipartisanship is more crucial than ever.
“The vast majority of bills that we sign into law under a Democratic or a Republican president are bipartisan bills that move through the suspension calendar in the House or through the same equivalent negotiated process in the Senate,” said Holzberg. With that in mind, credit unions can’t ignore either party to be effective in getting legislation favorable to credit unions passed.
Credit unions will want Congress to address many issues, and meaningful advocacy efforts are critical to getting these bills passed.