Page 5 - Michigan Credit Union League: 2018 Contact Q1
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FROM THE DESK OF MCUL &
AFFILIATES CEO DAVE ADAMS
Entering a new year gives us a fresh outlook. Reenergized In this Contact, we also stop to take a much further look back.
after spending the holidays with family and friends, we This year marks one decade since the Great Recession, so
can get back to engaging efforts on our advocacy agenda. in the “Time Capsule” feature, we highlight how much credit
This year, the Michigan Credit Union League (MCUL) will unions have done in that time to revitalize communities around
continue to prioritize a solution for data breaches, work to Michigan. During the recession, banks pulled away from lend-
maintain effective regulation of payday lending and seek an ing to consumers, with an eye on profits and stockholders.
outright exemption from the Consumer Financial Protection Meanwhile, credit unions took the reverse approach. Focusing
Bureau (CFPB). instead on helping members and rebuilding communities,
credit unions invested in the economy through small-business
Turning the page to another year also gives us an opportunity lending, and it paid off. Now, 10 years later, the industry’s
to reflect on the previous one … and 2017 was a big one. We loan portfolios have only continued to rise, parallel with con-
successfully fought to maintain the credit union not-for-profit sumers’ trust in credit unions.
tax status, had advocacy success with both the CFPB and
the National Credit Union Administration (NCUA), joined the I know that the work we have ahead of us in 2018 will only
class action lawsuit against Equifax on behalf of Michigan continue to help credit unions serve, grow and remain strong.
credit unions, as well as many other successes. You can find Thanks for reading.
more details on these victories and more in the latest “Under
the Dome” feature. Best,
The Michigan credit union movement has itself to thank for Dave
these 2017 triumphs. This year’s Credit Union National Asso-
ciation (CUNA) and MCUL Governmental Affairs Conferences
(GACs), Capitol Day and Hike the Hill events showed a dedica-
tion from credit union leaders to discuss credit union priorities
with both colleagues and our state and federal leaders. We
hope you continue this dedication, starting with the Michigan
GAC, April 18–19, in Lansing.
FIRST QUARTER 2018 I CONTACT 5
