March 4, 2025
Dear Credit Union Leaders,
Greetings from Washington, D.C.! The MCUL and over 170 of our members are ready to take on the Hill at America’s Credit Unions GAC. As we enter March and with Spring around the corner, here are the updates you need.
Announcements
Compliance Office Hours will take place this Friday March 7. For more information, contact Brad (Bradley.Willett@mcul.org).
Advocacy
In Lansing, the state legislature came together to compromise and pass proposed amendments to paid sick time processes for all businesses and minimum wage-related issues for tipped workers. While neither side got “everything” they wanted, it appears the bills that ultimately passed were both acceptable and workable. The original proponents of the ballot initiative continued to oppose the amendments throughout, and have rumbled about a possible ballot referendum on the enacted reforms, but support for any such effort is questionable at this point. Our lawmakers now turn to the annual state budget process. Our team will be focused on CDFI funding and the creation of a possible permanent state CDFI fund, additional funding for payday lending alternative programs, and further backing for Michigan Saves’ loan loss reserve. As we wait for word on further appeals regarding presentment of last session’s garnishment bills, we will also be looking for “cleanup” legislation on that effort in the event that the bills are presented and signed.
In Washington, D.C., MCUL Advocacy’s focus has been on re-educating lawmakers on the value of and need for credit unions’ tax exempt status. As mentioned in prior editions, we know that our status will be under at least technical consideration as a “pay for” for any tax cuts. Our primary mission as this process unfolds is to ensure that any bill that is drafted does not affect our industry, from the outset. We continue to watch the CDFI Fund and the new Administration’s level of support for it, along with unfolding changes at the NCUA under newly anointed Chair Kyle Hauptman and further developments at the CFPB as the Trump Administration continues to downsize the agency. We are also focused on continuing efforts on interchange reform, which we expect to see reintroduced in the new Congress, as well as FCUA updates on board governance – the Credit Union Board Modernization Act has been reintroduced and passed by consent in the U.S. House – and possibly field of membership. The State of the Union address will be delivered on Tuesday evening, and we will listen carefully for any developments that may affect credit unions.
For a full update on state and federal regulatory action, please see the “Reg Corner” update in this edition of MILeague Minute.
Grassroots and Advocacy Funding
MCUL is in Washington D.C. this week for America’s Credit Unions’ GAC. Over 170 Michigan credit union officials and volunteers join over 6,000 attendees as we take on the Hill in defense of our tax status and advocating for key credit union priorities. Our group will meet with all 13 U.S. House members and both U.S. Senators or their staff before we return home. Stay tuned for updates in our next edition!
As mentioned in our prior editions, with regard to federal PAC permission agreements, please continue to keep an eye out for communications about renewal if you are still currently expired for 2025. We still need agreements from a handful of credit unions! Thank you to everyone that has already completed theirs and sent it in! Completing and submitting these forms is not an agreement to participate in any particular programs, and we will not solicit your members or employees without the permission of your credit union. This is purely a compliance requirement on our end. Please feel free to contact Todd (Todd.Jorns@mcul.org) or any member of our team with any questions. And for those credit unions that participated, stay tuned for information on the 2025 Grand Raffle as we look to roll out the program this Spring.
Elections
There is still no news on any special election in the state Senate to replace former state Sen. Kristen MacDonald-Rivet, who won election to Michigan’s 8th Congressional District seat last November. The open seat covers Flint, Saginaw and the Bay City area. We continue to monitor the movements of potential candidates for the open U.S. Senate seat that will be created with U.S. Gary Peters announcement that he will not run again, as well as candidates for Governor, Attorney General, and Secretary of State as these key Executive Branch seats will be vacant next year due to term limits.
As always, thank you for all that you do for Michigan’s credit unions!
Sincerely,
Patty Corkery and the MCUL Advocacy Team
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