Bob Kressig is familiar with the credit union taxation issue on two fronts.
First, he experienced the importance of it as chairman of John Deere Community Credit Union. Then he worked against an effort earlier this year to increase taxes on Iowa credit unions as a representative in the state house. The
“Luckily through a lot of work and effort by credit unions, staff and members, we were able to defeat the bank attack on credit unions,” Kressig said. “That’s definitely an issue that we pay attention to and I’m sure it’s something that’s being discussed in other states.”
Kressig, who is running for re-election, joined John Deere Community Credit Union (formerly John Deere Employees Credit Union) in Waterloo, Iowa, in 1972 and was asked to run for the board in 1996. He served as chairman from 2001 to 2004. The institution changed its name for a second time to Veridian Credit Union in 2006.
He launched his political career in 2004 after someone from the Iowa Credit Union League encouraged those involved with the industry to run for public office. He represents Cedar Falls.
Kressig cites problem solving as one of the main skills he refined during his time at Veridian, which has $4 billion in assets.
“All the things that you learn in positions of leadership, those carry over into what I’m doing in the legislator,” Kressig said.
Funding for education for kindergarten through high school and at the college level is another important issue for Kressig. He is also looking into ways to address the state’s current worker shortage by helping young people attain the necessary skills to “enter the workforce and earn a good living,” he said.
On top of that, Kressig is working to grow the state economy to ensure that Iowans have access to strong healthcare after former Gov. Terry Branstad privatized Medicaid.
“It’s just been a total nightmare for families and for providers of Medicaid,” Kressig said.
Besides keeping an eye on any looming tax threats, Kressig emphasized the importance of credit union members getting out and voting. He recommends that credit unions focus on maintaining their assets while also finding ways to keep members and employees happy.
He believes it is important to ensure members of credit unions understand the difference between their institutions and others.
“We’re focused at the state level to educate members and continue to get them understanding the credit union difference," Kressig said. "With that education, when claims are made that aren’t necessarily true, members will have the understanding to say ‘wait a minute, that’s not accurate."
