CALL TO ACTION: Write State Lawmakers Today in Support of Credit Union Legislation
Take action today in support of our newly introduced legislation in the Virginia General Assembly. We're lobbying for a measure to provide credit unions with the authority to hold public deposits (HB 1205). This authority would allow public entities – city and county governments and their various subdivisions, for example – to deposit public funds at local credit unions, providing greater choice, boosting competition, and benefitting taxpayers by providing better rates on deposits.
Please encourage staff, officials and members to contact their lawmakers, as well!
Our goal is 1,000 total messages this week!
About Our Legislation
“More than half the states allow public entities to hold deposits at credit unions, so we believe it’s past time Virginia’s credit unions have this authority,” said League President/CEO Carrie Hunt. “We can expect fierce opposition from the bankers, but our member credit unions understand the importance of advancing the credit union charter and pursuing new authority and new opportunities for credit unions whenever possible.”
The League and credit unions have been laying the groundwork for this legislation for almost a year. In a series of meetings that involved League staff and credit unions, we’ve met with city and county officials, constitutional officers and lawmakers to better understand the service landscape for public entities and to drum up their support for public deposits legislation.
Note: The League team produced a white paper on the public deposits issue if you want to learn more about why credit unions are pursuing this authority. (Password-protected document. Register here if you need a password.)
Credit Union Day at the General Assembly is Jan. 18!
Our email campaign is only part of our grassroots effort. We need you in Richmond on Jan. 18 for Credit Union Day at the General Assembly!
We're looking for at least 200 credit union champions to join us as we educate state lawmakers about the "Credit Union Difference" and fight for credit union-backed legislation.
Lawmakers' offices have been relocated to the newly opened General Assembly Building, which can easily accommodate our credit union champions.
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