TopLine Financial Credit Union, a Twin Cities-based member-owned financial services cooperative, visited Capitol Hill in Washington, D.C., March 2 to March 5, 2025, as part of the annual America’s Credit Unions Governmental Affairs Conference, the credit union industry’s largest advocacy event.
During the conference, TopLine executives and officials, along with over 6,000 other credit union professionals, board members and Minnesota Credit Union Network (MnCUN) staff members, discussed several top credit union issues with key legislative staff members. The group met with U.S. Senators Amy Klobuchar and Tina Smith as well as members of the U.S. House and their staff. Meetings focused on expanding credit union’s opportunities to serve more Minnesotans, emphasizing the importance of preserving our not-for-profit financial cooperative tax status, fighting back on efforts to disrupt the interchange system, and maintaining an independent credit union regulator – all are very important to the health of the credit union industry.
TopLine spent valuable face time meeting with lawmakers and sharing members’ stories on how TopLine provides safe and affordable financial services to help members with all of their financial needs, from buying cars and homes, saving for retirement and investing in small businesses. These conversations emphasized the importance of preserving the tax status of credit unions, which allows credit unions to continue to do what they do best: focus on serving members and communities instead of chasing profits. Credit unions advocates shared with lawmakers that any limitation or curtailment of the tax status would have a dramatic impact on the $950 million in direct financial benefits Minnesota credit unions provide their members and over $4 billion in economic output in the state.
“The Governmental Affairs Conference united credit union champions from across the nation to discuss key policies, engage with legislators on Capitol Hill, and reinforce to lawmakers and regulators why credit unions are America’s best financial partner—prioritizing people over profits, strengthening communities, and enhancing financial well-being for all,” said Mick Olson, President and Chief Executive Officer at TopLine Financial Credit Union. “TopLine representatives had meaningful discussions with our state lawmakers, emphasizing the importance of preserving our not-for-profit financial cooperative tax status. This fundamental aspect of our structure enables us to build a stronger, healthier financial future for the consumers we serve.”