WASHINGTON—NAFCU has awarded Reps. Tom Emmer (R-MN) and Ed Perlmutter (D-CO) the NAFCU Credit Union Champion Award in recognition of their “leadership and track record of success on important credit union industry issues.”
According to NAFCU, its Congressional Credit Union Champion Awards honor members of Congress who have shown “extraordinary dedication to supporting credit unions through introduction of credit union-friendly legislation, cosponsoringof credit union-friendly legislation, leading or signing on to ‘Dear Colleague’ letters, and exhibiting a pro-credit-union voting record.”
About the Winners
Of the two winners, NAFCU said:
- “First elected in 2014, Rep. Tom Emmer represents the 6th District of Minnesota and currently serves as the Chair of the National Republican Congressional Committee, coordinating efforts for House Republicans in the 2022 midterm elections. Emmer is a champion of credit unions in Congress. In 2020, he introduced the NAFCU-supported Credit Union Governance Modernization Act (CUGMA) to streamline member expulsion processes. He reintroduced this legislation in 2021 and assembled a bipartisan group of legislators to back the effort, including Perlmutter. These efforts led to the bill’s inclusion in the fiscal year 2022 omnibus spending bill that was signed into law earlier this year.
In addition, Emmer successfully led efforts against a proposal to create additional IRS reporting requirements for financial institutions – first included as part of the Build Back Better Act in 2021,” NAFCU said.
In Final Term
- “First elected in 2006, Rep. Ed Perlmutter is currently in his eighth and final term serving the 7th District of Colorado and serves as the chair of the House Financial Services Subcommittee on Consumer Protection and Financial Institutions, a position through which he has been able to shepherd credit union legislation through the committee. Perlmutter has championed several NAFCU-supported bills, including CUGMA, the Secure and Fair Enforcement (SAFE) Banking Act, and the Expanding Access for Underserved Communities Act.
Perlmutter has also “spearheaded several credit union initiatives, ranging from seeking exemptions for credit unions from Dodd-Frank Act requirements, to advocating for Interest of Lawyers Trust Accounts (IOLTAs) for credit unions,” NAFCU said.
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