League & Trade Association Advice

Some trade associations really need to modernize their structure or behavior, if they are going to help small save credit unions from extinction.  If small CUs go extinct, our leagues will likely fail the entire movement (because good luck keeping the tax exemption for long after that happens).  I am happy to report that both national associations: ACU (America's Credit Unions) and DCUC, seem to be doing pretty well with my checklist so far!

How is *your* regional trade association doing?

1. Prioritize regulatory relief for small CUs!  Your trade association or league should be asking legislators and regulators for exemptions and relief for small CUs, all the time.  This should be more important than helping giant credit unions get even bigger.  Small CUs should be exempt from HMDA, NMLS, CECL, BSA, ALM/NEV, etc.  Send me your regulatory relief priorities and I will add them to our list!

2. Increase financial support for small CUs by ensuring significant discounts for small credit unions, whether it is for membership dues, conference registrations or educational opportunities.

3. Credit union dues for trade associations should be “capped” above a certain asset size. If the combined dues of all small credit unions within a given association, don’t even add up to 25% of the dues from a single large credit union, whose needs will likely be prioritized?

4. Ensure proportionate small CU representation on trade association boards, counsels and advisory committees.  Sure, small CUs have less time and resources to dedicate to lobbying or advocacy… but if the survival of small CUs is a priority, they must be adequately represented in the association leadership.

5. Help small CUs differentiate themselves from big institutions. Remind them to focus on their unique niches, while being true to their not-for-profit foundational mission: Giving their profits back to members in radical and meaningful ways and helping the underserved, and underbanked. That is the reason for the tax exemption in the first place, isn’t it?

https://www.cutoday.info/THE-tude/Spock-Save-The-Small-Credit-Unions!