On July 17th State Rep. Erick Allen (D-Smyrna) toured Delta Community Credit Union’s location in his district for an indoctrination of what the industry is, and what’s important to credit unions legislatively. In the course of the tour Rep. Allen sat in on some of the financial education classes taking place at the same time, an idea way to illustrate how credit unions help people afford life. This tour was held to grow his understanding of the industry and create a positive connection; Rep. Allen is a freshman legislator who serves on the Banking Committee in the House, one of importance to credit unions.
The Banking Committee consistently addresses bills that matter to credit unions and has been for several years where all of the charter-enhancement bills for the industry are first debated. The committee was also was pivotal in the passage of the credit union priority bill in 2019 to allow prize-linked savings account options in Georgia (HB 193 by Rep. Emory Dunahoo (R-Gainesville) to encourage savings). This was the legislation lobbied heavily by GCUA to allow Georgia financial institutions the ability to offer savings accounts that include a “sweepstakes” component to help move the needle on the number of individuals who cannot address a $400 emergency. This bill was signed into law and went into effect on July 1st of this year.
Rep. Allen was very active and helpful toward credit unions in securing successful passage of this savings account bill as well as the charter-enhancement bill for 2019, and met with GCUA to discuss the provisions of both in advance of the hearings. After the session, he was designated as a key individual to build a relationship with for the future. Our thanks to Delta Community CU for sharing their space and time with him and helping illustrate how credit unions across Georgia help people afford life.