The advocacy strategy, positions and efforts put forth in Georgia are guided by the Advocacy Policy Committee, whose purpose is to represent Georgia credit union interests in the formation of recommendations to the League Board. On August 15th this Committee met to discuss policy perspectives and issues that impact Georgia credit unions and chart a course for continued advancement of the industry. The Committee, composed of credit union leaders from around the state, engaged in discussions surrounding:
- the underlying framework guiding the messaging with legislators,
- the emerging issues on both a federal and state level,
- the realities of the current Congress,
- the impact of the statewide elections in Georgia, and
- public messaging awareness initiatives.
The group also spent significant time discussing an industry awareness initiative currently being developed by CUNA to help promote the industry across the country, and the research and data that will be driving the plan to help all credit unions. In addition, the Committee analyzed how the Advocacy message is shared in Georgia among credit union advocates as well as legislators … dissecting the distribution methods to ensure that it is being absorbed by credit unions, and generating new ideas of what can be useful in educating credit union members.
Looking forward to 2018, the committee received an overview of the work of the Credit Union State Law Review Task Force, which met in July with the Department of Banking and Finance to discuss potential changes to credit union law to strengthen the state charter and reduce compliance burdens. The top enhancements sought ranged from:
- analyzing the legislative environment and opportunity for credit unions;
- exploring options for regulations surrounding charitable donation accounts;
- discussing how law could (or should) be clarified regarding director and officer liability;
- reviewing credit union law and regulations for clarification on specific employee benefits products; and
- pursuing additional revisions to regulations and/or law surrounding leasing to create the possibility for credit unions to lease space.
GCUA will continue to work with the Department of Banking and Finance to pursue enhancements for credit unions in Georgia, and identifying the potential changes being sought, where common ground could be achieved with the Department on legislative/regulatory language.
In the coming month, all credit unions will be able to weigh in on the issues through the 2017 Legislative/Regulatory Survey, and our thanks to the Advocacy Policy Committee for being a guiding influence for the industry!
