WILMINGTON, Del.—The Cooperative Credit Union Association’s Delaware Advocacy Committee met with Lisa Blunt Rochester, Democratic candidate for Congress, to discuss current challenges facing the state’s credit unions and their 200,000 members.
The CCUA said President Paul Gentile questioned Rochester about committees she would like to serve on while in Washington. After replying that she doesn’t take a win for granted and much work remains on the campaign trail, Rochester said she would relish the opportunity to serve on the financial services committee and energy and commerce committee.
Helping people better their lives through financial literacy is a goal Rochester said she shares with Delaware’s credit unions. “Dealing with complex issues while helping families requires establishing and building upon relationships,” she noted.
David Clendaniel, president/CEO of Dover Federal Credit Union, said he would hope Rochester would go to bat for credit unions with federal regulators and the legislature should she become the state’s junior congresswoman, according to the CCUA. “The crash of 2008 was not caused by credit unions but they are burdened with the cost of complying with an ever-increasing number of regulations,” he stated while adding that “credit unions are paying the price for the greed of a few.”
Discussion also involved member business lending, especially 1-4 non-owner occupied loans; payday alternative loans; data security, and holding retailers accountable at the same level as financial institutions; financial literacy; and field of membership. Rochester remarked on the feeling of pride and ownership credit union members feel.