10 figures demonstrating what CUNA and leagues do for credit unions
The three-tiered system of CUNA, credit union leagues, and credit unions is the nation’s most effective team of credit union advocates. Joining together to advance the credit union movement is the driving force behind credit union membership in Credit Union National Association and state credit union leagues.
As a result, CUNA and state leagues work hard to serve the interests credit unions. But it’s often difficult to recognize the results of those efforts thanks to the din of a fast-evolving financial services industry and the every-day tasks of running a credit union.
We’d like to take this opportunity to share 10 figures from 2011 that illustrate the results of CUNA and state league efforts on behalf of credit unions. The numbers show the considerable impact individual credit unions have when they pull together.
- 9,100—The number of comments to the NCUA, Federal Reserve, and other regulatory agencies on proposed regulation via CUNA’s Operation Comment in 2011. Credit union support through league and CUNA affiliation helps national and state-level advocacy to drive out regulatory burden and redundancies. Doing so establishes the operating flexibility credit unions need to provide the services demanded by their members.
- $6.3 billion—The annual economic value to consumers by choosing credit union membership over for-profit financial institutions in 2011. CUNA and the state leagues shared this, and the message that credit unions are a trustworthy resource for financial services during good times and bad, to communities, the nation, and the world through media heavyweights in print, television, and radio.
- $28, 545, 723—The dollar amount young members deposited into credit union savings accounts during the National Youth Saving Challenge hosted in conjunction with National Credit Union Youth Week. CUNA sponsors National Credit Union Youth Week with the help of the state leagues to promote the importance of youth financial literacy and support credit unions’ role in supplying financial education to their members.
- 700-plus—Credit unions made sure their voice was heard on Capitol Hill in 2011. More than 700 credit union attendees visited lawmakers and staff as part of CUNA’s “Hike the Hill” program in 2011. “Hike the Hill” is one example of how credit unions—through their membership with CUNA and state leagues—shape the future and educate both chambers of the U.S. Congress, regulators and the administration about the credit union difference.
- 180,000—The number of successful credit union searches on aSmarterChoice.org. The network of state credit union leagues and CUNA collaborated to develop aSmarterChoice.org to help consumers locate a credit union they can join and drive new, potential members to credit unions nationwide.
- 86—Of the CULAC-backed candidates during the 2010 midterm elections, 86% won election to Congress. CULAC (the leagues’ Credit Union Legislative Action Council) strengthens the credit union impact on key political races and provides the opportunity to support worthy candidates for federal office who back credit union principles.
- 9—The number of times CUNA testified before Congress in 2011 to protect and promote credit unions. CUNA testified on major credit union issues related to interchange fees, member business lending, housing finance reform, the implantation of the Dodd-Frank Act, and regulatory burden.
- 40,000-plus—The number of credit union professionals and volunteers impacted by CUNA Councils, the Governmental Affairs Conference, America’s Credit Union Conference, and CUNA’s CPDOnline training. These programs cultivate credit union leader connections, ensure credit union leaders are informed, and educate credit union professionals on the latest trends and service standards.
- 2 million—The number of calls, emails and letters into Capitol Hill generated since 2009 by CUNA’s grassroots Interchange campaign. The overall rule on interchange was improved from its original version after 2 million grassroots contacts on the “interchange” issue supported CUNA’s challenge to the Fed’s rulemaking.
- 70-plus—CUNA penned more than 70 comment letters to 16 different agencies on topics such as NCUA’s Proposal on Credit Union Service Organizations, FHFA’s Inter-agency Credit Risk Retention, and FTC on Credit Score Disclosures. These comment letters were in addition to countless face-to-face meetings and dialogues with regulators.