League Meets with Congressman Ben Cline
Tim Rowe with Member One FCU, Justin Barnes with ValleyStar CU, and the League's JT Blau met with Congressman Ben Cline (R-06) in his Roanoke District Office on Thursday, April 6th. During the meeting they discussed the recent bank failures and restated our position that these had nothing to do with credit unions and Virginia’s 105 member-owned credit unions are safe and sound for their members, having less than 10% of their deposits over the CUSIF insured limit of $250,000.
During the meeting they also discussed potential legislation we are concerned about including any changes to credit union interchange, restrictions on overdraft programs, and the CFPB’s mission to reduce what it calls "junk fees". There was also discussion on allowing credit unions to serve more underserved areas and banking deserts, as well as highlighting the credit union difference.
We greatly appreciate Congressman Cline’s continued support of credit unions and his making himself available to meet with Virginia’s credit union leaders. We have reached out to other members of our Congressional delegation working to schedule in-district meetings while they are on spring recess.
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