The NAFCU Journal July-August 2020 - 22

''

To me, it's all about relationship-building. In the 116th Congress,
we had many freshman legislators that are truly open to better
understanding their constituents' needs and being open to helping
them understand the credit union difference. Most legislators want
to hear about the work being done in their community, especially if
it resonates with a committee they sit on or something that is close
to home for them.

''

- TRISH SHERMOT, DIRECTOR OF GOVERNMENT AFFAIRS/REGIONAL URBAN DEVELOPMENT OFFICER, VISIONS FEDERAL CREDIT UNION

Patterson and Anuswith maintain
that advocacy begins on the local
level, from town mayors and council
members to state legislative leaders.
Those elected officials have the
obvious contacts on the grassroots
level and will help support the
community engagement efforts
of a credit union, but they also
are likely to be the people who
ascend to higher office, including
the national level. By getting to know
them early in their careers, decades
of support can be obtained on various
governmental levels, say Patterson,
Anuswith and others.

"It's all about maintaining contact in your
community," Patterson says. "Letting
them get to know you and letting them
see your face."
That takes time, especially when it
comes to the national leaders, and it
begins during the campaign process
before you know who will win, says
Trish Shermot, director of government
affairs/regional urban development
officer for Visions Federal Credit Union,
based in Endwell, N.Y. 
"For Visions, it's important to know
who is seeking reelection and the

candidates that are running against
incumbents that may be considered
'credit union-friendly,'" Shermot says.
"To me, it's all about relationshipbuilding," she says. "In the 116th
Congress, we had many freshman
legislators that are truly open to
better understanding their constituents'
needs and being open to helping
them understand the credit union
difference. Most legislators want to
hear about the work being done in their
community, especially if it resonates
with a committee they sit on or something that is close to home for them."

Top Issues You Should Speak Out About
By Thomas A. Barstow

C

22

had Adams, director of political
affairs at NAFCU, notes these top
issues should be part of every credit
union's advocacy efforts. 

Any time you are talking to your elected
officials, you should let them know how
your credit union is helping its members
and the community, he adds.

and the regulators to create an environment in which credit unions can ensure
that credit is available and not hampered
by red tape.

Helping During a Crisis

Regulatory Relief 

Credit Union Tax Exemption 

"Credit unions work to provide relief
and assistance to members impacted
by unexpected events such as the
coronavirus," Adams says. In response,
credit unions have offered members
access to various programs and services,
ranging from introducing specialized loan
products that address pay disruption to
temporarily modifying loan agreements.

With credit unions working to ensure that
their members have every resource available to help them weather the economic
crisis left in the wake of the COVID-19
pandemic, they need relief from unnecessary and burdensome regulations,
Adams says. Credit unions should tell
legislators their stories. As financial first
responders, credit unions need Congress

The Tax Cuts and Jobs Act of 2017 keeps
the credit union tax exemption fully
intact. "This is a testament to the value
and strength of credit unions," Adams
says. "Nonetheless, we remain focused on
fighting any future attempts to tax credit
unions, because our country cannot afford
the negative impacts of slashing and
burning the credit union tax exemption."

THE NAFCU JOURNAL  JULY-AUGUST 2020



The NAFCU Journal July-August 2020

Table of Contents for the Digital Edition of The NAFCU Journal July-August 2020

The NAFCU Journal July-August 2020 - Cover1
The NAFCU Journal July-August 2020 - Cover2
The NAFCU Journal July-August 2020 - 1
The NAFCU Journal July-August 2020 - 2
The NAFCU Journal July-August 2020 - 3
The NAFCU Journal July-August 2020 - 4
The NAFCU Journal July-August 2020 - 5
The NAFCU Journal July-August 2020 - 6
The NAFCU Journal July-August 2020 - 7
The NAFCU Journal July-August 2020 - 8
The NAFCU Journal July-August 2020 - 9
The NAFCU Journal July-August 2020 - 10
The NAFCU Journal July-August 2020 - 11
The NAFCU Journal July-August 2020 - 12
The NAFCU Journal July-August 2020 - 13
The NAFCU Journal July-August 2020 - 14
The NAFCU Journal July-August 2020 - 15
The NAFCU Journal July-August 2020 - 16
The NAFCU Journal July-August 2020 - 17
The NAFCU Journal July-August 2020 - 18
The NAFCU Journal July-August 2020 - 19
The NAFCU Journal July-August 2020 - 20
The NAFCU Journal July-August 2020 - 21
The NAFCU Journal July-August 2020 - 22
The NAFCU Journal July-August 2020 - 23
The NAFCU Journal July-August 2020 - 24
The NAFCU Journal July-August 2020 - 25
The NAFCU Journal July-August 2020 - 26
The NAFCU Journal July-August 2020 - 27
The NAFCU Journal July-August 2020 - 28
The NAFCU Journal July-August 2020 - 29
The NAFCU Journal July-August 2020 - 30
The NAFCU Journal July-August 2020 - 31
The NAFCU Journal July-August 2020 - 32
The NAFCU Journal July-August 2020 - 33
The NAFCU Journal July-August 2020 - 34
The NAFCU Journal July-August 2020 - 35
The NAFCU Journal July-August 2020 - 36
The NAFCU Journal July-August 2020 - 37
The NAFCU Journal July-August 2020 - 38
The NAFCU Journal July-August 2020 - 39
The NAFCU Journal July-August 2020 - 40
The NAFCU Journal July-August 2020 - 41
The NAFCU Journal July-August 2020 - 42
The NAFCU Journal July-August 2020 - 43
The NAFCU Journal July-August 2020 - 44
The NAFCU Journal July-August 2020 - 45
The NAFCU Journal July-August 2020 - 46
The NAFCU Journal July-August 2020 - 47
The NAFCU Journal July-August 2020 - 48
The NAFCU Journal July-August 2020 - 49
The NAFCU Journal July-August 2020 - 50
The NAFCU Journal July-August 2020 - 51
The NAFCU Journal July-August 2020 - 52
The NAFCU Journal July-August 2020 - 53
The NAFCU Journal July-August 2020 - 54
The NAFCU Journal July-August 2020 - 55
The NAFCU Journal July-August 2020 - 56
The NAFCU Journal July-August 2020 - 57
The NAFCU Journal July-August 2020 - 58
The NAFCU Journal July-August 2020 - 59
The NAFCU Journal July-August 2020 - 60
The NAFCU Journal July-August 2020 - 61
The NAFCU Journal July-August 2020 - 62
The NAFCU Journal July-August 2020 - 63
The NAFCU Journal July-August 2020 - 64
The NAFCU Journal July-August 2020 - Cover3
The NAFCU Journal July-August 2020 - Cover4
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