WASHINGTON–CUNA welcomed a new chairman during its GAC here.
Rod Staatz, CEO of SECU of Maryland, accepted the gavel from outgoing chair Susan Streifel of Woodstone Credit Union. In his first remarks to credit unions, Staatz shared his belief that when it comes to “choice,” credit unions would be best served by maintaining the current “system” of belonging to both a league and CUNA, and also made a veiled reference to why CUNA is a better deal than NAFCU.
“I know you are aware of the bylaws proposal. We at CUNA remain committed to interdependence,” said Staatz. “We understand our purpose is to support, protect, unify and advance the movement so that credit unions can grow and succeed in being America’s best financial partner.”
Staatz told credit unions not to allow banks to define them, urged CUs to communicate to legislators and regulators the CU difference, repeated the call for reduced regulatory burden, and called for “open fields of membership to allow Americans a true choice. That’s not going to happen for a while. I don’t understand why there are limits; the only reason there are limits is the banks have done a good job in limiting what we do.”
Staatz, who said earlier in the day he was part of a meeting with CFPB Director Richard Cordray that left him feeling “we have a lot of work to do, and I’ll leave it at that,” told CUs in a general session that 100% of their dues goes to advocacy.
“CUNA is the strongest, most prominent advocate for credit unions in America. However, we realize we will achieve advocacy excellence though the ‘system.’ It doesn’t take a village, it takes a system,” said Staatz.
Before an onscreen graphic showing a 360-degree approach to advocacy, Staatz showed what that approach would look like if pieces were missing, and said it reminded him of another trade association in Washington that isn’t a “system and is just here to take the money.”