Article | January
Credit Union Advocacy
January 01, 2020
Credit Unions Are Different
As a member of Wings Financial Credit Union, we want you to recognize the credit union difference. Credit Unions are member-owned, not-for-profit financial cooperatives that are created and operated by laws and regulations. Our values and democratic structure rely on one member, one vote.
We are about people, not profit. We focus our energy on improving service and returning value to our members in the forms of lower loan rates and higher deposit yields. We embrace community involvement and social responsibility which extends beyond our members to the broader communities that we serve as well. Credit unions benefit everyone, whether they are a credit union member or not.
Take Action with US & Become an Advocate
We believe people should have a voice in matters that affect their lives. Although Wings’ management team interacts with local, state and national regulators on issues that affect and concern credit unions, our government officials need to hear from members as well. From time to time, legislation or regulations are proposed that could threaten or enhance the operating structure of the credit union, and member voices can be very persuasive in influencing legislative decisions. We need your help to make a difference.
We believe in this so strongly that our Board of Directors has adopted the following Political Advocacy Statement:
At Wings, we recognize that public policy decisions have a direct and significant impact on our members, employees, communities, and business model. Accordingly, we believe that it is important to engage with policymakers to advance and protect the long-term viability of Wings and the broader credit union movement. We also believe that we should educate our members and our employees on the value of the cooperative model and seek their advocacy and support on issues that may affect our operations and future.
Current Priorities We Are Working On
Currently, merchants are not subject to the same strict data security standards that financial institutions are. Data breaches continue to happen and affect millions of people each year. Wings takes immediate action when we are made aware of merchant data breaches that affect our member’s financial wellbeing.
On May 22, 2018 the House voted (258-159) to pass S. 2155, The Economic Growth, Regulatory Relief and Consumer Protection Act, a relief bill supported by Credit Union National Association (CUNA) that will improve the operating environment for credit unions nationwide.
This effort passed in part due to the outstanding response by Credit Union members across the country who supported the initiative and contacted Congress to take action.