COLUMBIA, S.C./RALEIGH, N.C.–The Carolinas Credit Union League said it is providing an additional contribution of $182,975 to its National Advocacy Fund (NAF) to support efforts to oppose the Credit Card Competition Act in Congress. The legislation has strong support from retailers and merchants and its proponents in Congress have vowed to bring it to a vote in the current session.
The NAF has been leveraged by CUNA and the credit union system for many years to fund extraordinary political initiatives. In June, CUNA asked credit unions and leagues to raise an additional $4 million to support efforts to prevent the passage of the legislation, according to the league.
“Our contribution represents the Carolinas credit unions portion of the $4 million funding request,” shared Dan Schline, president and CEO of the Carolinas Credit Union League. “Instead of soliciting our credit unions for the additional dollars, the league board approved directly funding the request. We appreciate the board’s leadership and are pleased to be in a position to support NAF to the fullest extent.”
‘Need to Continue to Work Together’
“As a credit union system, we need to continue to work together to educate lawmakers on how the current interchange system allows credit unions to combat fraud, extend credit, and provide the access that members need and want,” continued Schline. “Funding NAF is one way to help and is strategically important to our advocacy efforts.”
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