COLUMBIA, Md.–Sen. Chris Van Hollen (D-MD) helped to kick off the MD|DC Credit Union Association’s annual Climb the Capitol event, which was held virtually.
The event gives credit union executives the opportunity to engage directly with members of Congress and champion the key issues affecting the 2.2 million members they serve in the Maryland and D.C. region, the association said.
During his remarks Van Hollen expressed support and appreciation for credit unions and said he looked forward to maintaining and strengthening the credit union model. The MDDCCUA Advocacy Team and credit union executives also met with Rep. Jamie Raskin (D-MD) as well as staff for Sen. Ben Cardin (D-MD), House Majority Leader Steny Hoyer (D-MD) and Rep. David Trone (D-MD).
Of ‘Fundamental’ Importance
“These meetings are fundamental to keeping our congressional delegation aware of how federal regulations and legislation impact the ability of credit unions to serve their members and their communities,” said John Bratsakis, president and CEO of the MD|DC Credit Union Association President/CEO. “It’s an opportunity for credit unions to effectively frame the issues and share why they are different from other financial institutions.”
Added David Woodruff, president and CEO of APL FCU, “We are the ultimate consumer protection agency -- our members own us.”
Explaining Role as CDFI
During the event, Santita Prather, manager of talent acquisition and development at SkyPoint FCU, said, “People are struggling, and we have to be able to help them.”
Prather also explained that as a Certified Community Development Financial Institution, SkyPoint FCU has the ability to create special programs to specifically meet the needs of the communities they serve.
During the discussions credit unions also urged lawmakers to help protect consumers by advancing federal legislation to establish data protection and notification standards, pointing out that credit unions, and their member-owners, take the financial hit, not the source of the hack when a breach occurs.
Other Issues Discussed
According to the MDDCCUA, other issues discussed with lawmakers:
- Replacing the Consumer Financial Protection Bureau director with a bipartisan, five-member commission
- Raising the Member Business Lending Cap
- Opposition to expanding the Durbin amendment to credit card programs.