This month I begin my term as chairman of the California Credit Union League-the first CEO of a small credit union in 10 years to hold this important position. This new responsibility comes after several years of increasing opportunities to represent small credit unions nationwide. This has been an eye-opening journey for me, and it all began when I accepted a league invitation six years ago to travel to Washington, D.C. for an advocacy trip.
I said I'd be happy to help the league forge support for credit unions locally, since my credit union had just lost its sponsor, and our only way of surviving-by adding or expanding our SEGs-had been blocked by a federal court. But I was the CEO of a small credit union, I explained, and couldn't afford a trip to the nation's capital. The league offered to pay my expenses, and off I went, bolstered by the support of my board of directors but nervous about walking through the halls of Congress.
That trip changed my life, as I learned how one person truly can make a difference. For example, I noticed that when our lobbyists talked in general terms with legislative and executive staff about credit union concerns, people listened. But when I spoke about how my credit union had helped someone keep their home, about the plight small credit unions faced under that court order, and about how millions of ordinary Americans were being hurt, these same people took notes. This experience changed my perspective about the effect small credit unions can have in politics.
Since then, I've developed strong relationships with my congressional representative and members of the California legislature. I felt tremendous energy as I observed that the good you can do for your members in the political realm isn't a question of your asset size, but how you think and act. This motivated me to accept positions with CUNA's Small Credit Union Committee and the Renaissance Commission, where I helped represent the interests of small credit unions in shaping our movement's future.
Asset Size Is Irrelevant
My message is that credit union advocacy needs to be everyone's responsibility, regardless of asset size, if credit unions are to remain relevant in the financial world and continue to be an option for consumers. We frequently talk about giving consumers a choice, but if we are not active in the political process and let others determine our destiny for us, we will remove that choice ourselves. Effective advocacy requires educating and influencing policy makers, and our actions reap great dividends for our members and for all consumers.
The contributions of small credit unions have been vital to advocacy efforts this past year in California. When a state senator made overtures to credit unions to build support for her financial privacy bill, astute leaders of small credit unions joined league staff at the negotiating table. We were able to hammer out a bill that preserved the privacy of our members without imposing restrictions that credit unions like mine would find impossible to live with.
Many leaders of small credit unions feel they don't have the time to get involved, or the staff available to allow them to be away. I used to feel the same way. I've since learned that you cannot wait until you have the time-you must make the time now. My staff and my board understand how important it is for credit unions to be involved in the political process, and I've empowered my staff to run the credit union if I'm in Washington for a few days. I trust them to make decisions and to provide our members with the best service possible. They know now that they can handle almost any issue that comes up. And thanks to the communications revolution, they can get hold of me any time of day.
Asking For Help
Asking for help also means turning to your state and national trade associations, and the California Credit Union League has been an invaluable resource for me and for other small credit union leaders. The league provides us with the advocacy staff, the time, and the expertise we simply cannot afford on our own. It frequently helps fund travel required for visits to Capitol Hill, so that finances are less often a barrier to becoming politically active. We leverage these resources to attain goals that you might think would be beyond what a small credit union can do.
I've made a much bigger commitment than most people need to make. However, there are many ways in which the staff and volunteers of even the smallest credit unions can get involved and make a difference. Attending fundraisers, canvassing precincts, and staffing phone banks are within the means of every credit union. And the rewards are very encouraging. For instance, I've found that after offering help to a candidate a few times, soon the candidates come to you. This is precisely the kind of result we want.
I have a vision of where credit unions will be in a few years. Candidates for political office will come to credit unions and ask us, what are the issues that people care about? What do I need to do to take care of my constituents?
Is this objective reachable? Right now, we are close. Today, when legislators are already in office, we build relationships with them and they learn about us. But we are not "top of mind" for those planning to run for office, when they consider whom they need to consult to find out what the issues really are.
We've had many successes. But I believe that once we get to the position I'm describing, we can truly say we've been successful. All it takes for credit union leaders to become energized is to experience that first meeting where they tell a legislator all the good things credit unions do for their members, and explain what a difference they make in people's lives. Getting involved got me to realize the importance of each person's contribution, and made me want to do more.
All this from the CEO of a mere $8-million credit union. If I can do it, anyone can.
Pat Wagner is president of New World FCU. Ms. Wagner can be reached at P.O. Box 1787, Lafayette, Calif, 94549.
