WASHINGTON—The third day of the Governmental Affairs Conference brought credit union advocates closer to Capitol Hill, with timely remarks from federal officials, including Federal Reserve Bank of New York President/CEO John C. Williams and Sen. Pete Ricketts (NE).
Newly elected America’s Credit Unions board chair called on the movement Tuesday to tell their stories boldly and consistently.
Addressing the Governmental Affairs Conference for the first time as chair of America’s Credit Unions board, Karen Harbin said being an advocate is one of her most important responsibilities. Harbin, who is also president/CEO of Commonwealth Credit Union, called on the entire credit union movement to “add your voice, your passion, and your expertise to our unified efforts,” and to “keep the humanity of what we do” at the center of every policy discussion.
“Part of keeping that humanity front and center is telling stories. No impact is too small to share. The moments when you help a member through a crisis, guide a family toward stability, or open the door to opportunity, those stories move people, they turn passion into policy, they help lawmakers understand the difference credit unions make every day,” she said. “When we tell these stories boldly and consistently, we strengthen our collective voice and deepen our influence.”
Harbin—who led the committee that ultimately selected Scott Simpson as America’s Credit Unions president/CEO—praised Simpson’s “genuine, intentional, and strategic” leadership and authenticity, and said the board and America’s Credit Unions share his vision of where the credit union movement can go in the future.
She also thanked previous board chair Patrick Pierce for his leadership over the past year, and her fellow board members for their guidance and devotion to advancing the credit union mission.
Reiterating the commitment to ensure America’s Credit Unions is an organization that is “modern, responsive, and positioned for long-term success,” Harbin said every decision will be evaluated through the lens that advocacy is job one.
“We are here to serve you, to represent you, to ensure your needs and your voices shape the strategy of this association,” she said. “Our success depends on the strength we bring when we move forward together.”
Credit Unions Play A Critical Role In The Economy, Says NY Fed President
Lifetime credit union member and Federal Reserve Bank of New York President/CEO John C. Williams addressed attendees at GAC Tuesday.
Bringing insights into the current state of the economy and the economic impacts of AI, Williams addressed credit unions’ role in the resiliency of regional employment and affordability.
“To me, the critical issue is: how do you evolve with this changing landscape in a way that makes sense with the value proposition of your organization?” Williams asked. Answering his own question, he told attendees to stay focused on the risks and opportunities that are unique to their footprint.
“One of your superpowers is you’re connected to your communities,” he added. “You’re part of the community and you understand what the local conditions are.”
Ricketts Touts Legislation To Benefit Credit Unions
Senate Banking Committee member Ricketts detailed several bills he has championed to help “remove red tape” and allow credit unions to serve their members without unnecessary regulatory burdens.
Ricketts co-sponsored the Expanding Access to Lending Options Act and the Credit Union Board Modernization Act—two bills that would provide needed modernizations. He also discussed the benefits of the GENIUS Act, passed last year as part of H.R. 1, which provided parity for credit unions.
Detailing his support for the Renewing Opportunity in the American Dream (ROAD) to Housing Act, Ricketts noted the committee voted on it Monday night. The bill is designed to boost housing supply, improve housing affordability, and increase oversight and efficiency of federal regulators and housing programs.
Ricketts shared that addressing housing affordability is a bipartisan priority for lawmakers and acknowledged the housing finance system as an area where credit unions “help out a lot.”
In closing, he thanked credit unions for all they do to help everyday Americans achieve their dreams. “What you do is very important. It’s part of what continues to make our country great and continues to grow our nation.”