By Michael Fryzel
During the recent Governmental Affairs Conference (GAC) sponsored by CUNA and held in our nation’s capital, attendees heard a lot of speeches. The words contained in the remarks made by congressmen and financial regulators spoke of the great work credit unions do, contained accolades of support for favorable legislation, and promises of a year of regulatory relief. Everything said was music to the ears of credit union CEOs, directors and staff.
The stage at the convention center is now dark. The massive auditorium is now empty. The crowded receptions and breakout groups where networking at its best took place are over. The hikes to the Hill have concluded for another year.
It was an exciting GAC and those attending had reason to leave with optimism that good things were to come. After all, promises were made.
As we have all seen from past conferences attended, the good things we hear, the promises that are made and the support that is indicated somehow seems to fade and memory loss occurs. Often-times, speakers get caught up in the moment and having an audience of 4,000 people sometimes encourages them to say what they believe will get the best response and loudest applause. It’s a trap anyone can easily fall into.
The congressmen who spoke talked of being credit union members, having thousands of members in their districts, being advocates of the credit union philosophy and promising to support bills that would allow credit unions to better serve their members.
The regulators from NCUA promised a year in which credit unions would see improvements and changes in regulations to provide supplemental capital, greater flexibility in member business lending, expanded fields of membership, greater transparency in the budget process and inclusion of industry representatives in advisory groups that will improve communication between the regulator and the regulated.
How could all the credit union advocates who heard what was said not be excited? How could they not believe that this year would be the year of the credit union? How could they not go home feeling that change is in the air and the Promised Land is in sight?
The answer is simple. It’s because they have heard this all before. At last year’s conference, at the one before that, and the one before that and……you get the idea. As one participant said, it reminded him of that old record titled “It’s the same old song”.
Credit union people are forgiving folks. They know that sometimes it is hard to do what you say. But they are also people who never give up hope. And that is why this year, like every other year, they will pray and hope that maybe the words of Walt Disney will ring true when he said, “When you wish upon a star….your dreams come true”.
To help this along, your trade associations, your state leagues and you yourself must continually remind your congressman and those at NCUA of what they said and that you expect them to deliver. Keep pressure on them with letters, phone calls and attendance at meetings. Make them so tired of seeing and hearing you that they will do what they said in hopes it will make you go away.
There is strength in numbers, there is power in persistence and there is a means to the end.
Commit yourself to make sure that all those who made the promises, keep the promises.
Michael E. Fryzel is an attorney and advisor to the financial services industry with offices in Chicago. He is a past Chairman and Board Member of the National Credit Union Administration. He can be reached at meflaw@aol.com.