Jump to a section:
Federal | State | Regulatory | CU Link | MCUF | Education | CUSG

 

May 2021

Welcome to our May Priority Report.

To mask or not to mask, that is the question... We all saw a flurry of activity last week with the announcement that mask restrictions will be lessened for those people that are fully vaccinated. The President’s announcement set into motion the need for agencies in Michigan to update and modify state policy on the issue of masks. As employers, and as credit unions serving their members, we all felt the same rumble and uncertainty on how to handle members and employees as restrictions ease. As of this report, we are still waiting for clarification or updates from MIOSHA. We have heard that while MIOSHA is reviewing updates to its rules, it will consider compliance with MDHHS’s order good faith compliance when it comes to responding to employee complaints or conducting investigations on COVID-19. If you are able to join our Industry Update call this week, we will have MIOSHA Director of COVID Workplace Safety, Sean Egan, on the call to discuss the current situation and answer questions.

We highlighted research initiated by CUNA on women in credit union leadership this month. Learning from CUNA that credit unions far outpace banks nationally when it comes to women in CEO positions, we looked at how Michigan measured up and we were quite pleased, and not surprised, to see Michigan exceeding the national averages. Check out the article here: Michigan Credit Unions: How We Stack Up on Women in Leadership

Our CU Link Consumer Awareness Campaign – Banking Built for People – has launched its story contest t to encourage credit unions around the state to share stories of how they impacted a business or member over the last year. Two credit unions a month will be selected to receive a free, fully produced video by our CUBE TV team to feature the story. We know there are a lot of examples out there and we are looking forward to hearing them. Has your team shared a story yet?  Check out the contest here: CU Link Story Contest

Big news from our Education team this month as we officially open registration for this year’s Annual Convention in Traverse City from August 22-25.  Also stay tuned for registration information for the Executive Summit and Fall Leadership conferences to take place in person this September. More information will be coming soon on these popular events and we hope to see you there.

Finally, watch out this month for information from our Advocacy team on State PAC fundraising as we kick off the plush animal sales.  More information should be coming to your inbox soon.

As always, thank you for your support and continued engagement with our association.

---

FEDERAL ADVOCACY AGENDA

• SAFE Banking Act

  • Passed by the U.S. House of Representatives on April 19 with overwhelming bi-partisan support. 

  • Ten of Michigan’s fourteen delegation members voted in support of the bill:

    • Reps. Bergman, Dingell, Kildee, Lawrence, Levin, Meijer, Slotkin, Stevens, Tlaib and Upton.

  • We heard from one of the delegation offices that voted against the SAFE Banking Act last Congress thanking credit unions for continuing to educate them on the issue.

    • Indicated our efforts contributed to their voting in support of the bill this year.

    • A testament to the effectiveness of our advocacy efforts!

  • Following passage in the House, the bill is now sitting in the U.S. Senate.

  • It’s unclear at this point if or when that chamber will consider the bill.

• The President's new plans for America:

  • The American Jobs Plan

    • A $2.3 trillion bill

      • Will invest heavily in replacing our nation’s aging physical infrastructure and will create millions of jobs.

  • The American Families Plan

    • A $1.8 trillion investment in this nation’s children and middle-class families.

      • Directs support to make childcare more affordable and to establish universal prekindergarten programs.

      • Expands paid family and medical leave and offer a free community college education to those who wish to get a two-year degree. 

  • Congress is expected to debate and vote on both plans over the coming several weeks

  • MCUL will monitor with CUNA for any developments that could negatively impact credit unions or provide potential opportunities to advance our mission.
     

STATE ADVOCACY AGENDA

• FY22 budget

  • We expect it to be presented to the Governor in June.

  • The $750,000 for the Michigan Saves program is our only appropriations currently included in the FY22 budget.

  • We're continuing conversations with members of the appropriations committees in both the House and Senate on our additional priorities.

• The “MI Vacc to Normal" Plan 

  • Outlines how Michigan moves forward through vaccinations to get back to normal lives.

  • Key Highlights of the plan include:

    • Two weeks after 55% of Michiganders are vaccinated, in-person work for all sectors of business will be allowed.

    • Two weeks after 60% of Michiganders are vaccinated, indoor capacity increases at sport stadiums, conference centers, banquet halls, and funeral homes to 25%. Indoor capacity for exercise and gyms would increase to 50% and curfews on bars and restaurants would be removed.

    • Two weeks after 65% of Michiganders are vaccinated, all restrictions on indoor capacity limits would be removed (social distancing between parties would still be required) and further relaxes limits on residential social gatherings.

    • And fianlly, two weeks after 70% of Michiganders are vaccinated, the entire gathering and face mask epidemic order would be lifted.

• Continuing to work on our Priorities

  • Opposition to payday lending, data breach, uniform assignment of rent, financial elder abuse implementation (policies and procedures) and combating the introduction of harmful overdraft legislation.

REGULATORY COMPLIANCE

• Electronic Lien Termination

  • Recently held a meeting, in conjunction with the Compliance Network, with the Secretary of State’s office.

    • The session featured a brief overview of the new ELT platform

    • Gave credit union leaders the opportunity to ask questions surrounding ELT implementation and usage.

    • Another similar session will be held shortly to continue the dialogue between SOS and financial institutions.

  • The League, CUNA, the Compliance Network and local credit union leaders continue to follow proposed regulatory changes and their impact on credit unions.

  • When appropriate, we will submit comments to educate regulators on the impact of the proposed changes or work with members of the Compliance Network and local credit unions to draft their response to proposed regulations.

---

CONSUMER AWARENESS

• The CU Link 'Banking Built for People' "Stories" Contest

  • Now live and accepting submissions through May 31st.

    • Let us know how your credit union is built to serve people through unique programs, events, community partnerships, or individual member stories, and we'll help you share it with audiences across the state.

    • This contest is an exciting way for Michigan's credit unions to demonstrate to their membership, communities, and lawmakers that they are truly "banking built for people."

    • Don't miss out on this great opportunity to share your credit union's story!

    • Visit MCUL.org to learn more.

• Banking Built for People Campaign

  • Development has begun on new creative assets.

  • Keep an eye out for more details on messaging topics and sneak peeks in the months to come.
    

• Banking Built for People Advertising

  • Starting in June, advertising will go live on billboards and GSTV gas station pump screens around the state.

Michigan Credit Union Foundation

• Community Enrichment Grants

  • MCUF is now accepting applications.

  • This year’s grant targets include:

    • Funding financial inclusion initiatives

    • Support for COVID and economic recovery challenges

    • Small business support

    • Financial education activities

  • MCUF grants are now available to help with your small- or large-scale initiatives.

• Financial Reality Fairs

  • More than 50 Financial Reality Fairs have been conducted virtually already this year. 
    

  • Free materials and training for Financial Reality Fairs including the new virtual delivery option are available to credit unions.
    

  • Making it easier for credit union facilitators and schools to help teens prepare for their financial future with this this real-life budgeting simulation. 

• To learn more about the foundation, make a donation or apply for funding:

  • Contact MCUF Executive Director Beth Troost.

  • Thank you for your support and engagement with our Foundation.
     

 

EDUCATION

• MCUL/CUSG 2021 Annual Convention & Exposition 

  • Registration is now open! Secure your spot today!

  • Featuring keynote speakers Mitch Albom and Dr. Samuel Jones.
    

  • What's New?

    • Date change: The event takes place Sunday-Wednesday, Aug. 22-25 at the beautiful Grand Traverse Resort & Spa.

    • The charity golf outing to support Children’s Miracle Network Hospitals: Credit Unions for Kids, closes the event on Wednesday, Aug. 25

    • Expect registration to open later in May.

      • Attendees will be able to secure hotel accommodations online after receiving a registration confirmation code.

      • Please note: we're following CDC and Executive Order updates as our guide to the number of people who we’ll be able to accommodate.

    • All appropriate safety protocols will be reflected throughout the event and many activities are expected to be held outdoors.

• Fall Leadership Development Conference

  • Also be heading to the Grand Traverse Resort & Spa

  • September 17-19, 2021

  • Training opportunity for directors and supervisory committee members.

  • Watch for more details at mcul.org.