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We Are People Helping People

We'd like the presidential candidates to know CUs like ours truly are in the business of people helping people, as we loan money to income- and credit-challenged consumers who've been turned away by other institutions. We would like them to understand that we perform a valuable service in our communities, as the loans we make to underserved members are used to purchase cars so they can get to work and care for their families.

Debbie Pidek, EVP- communications/CCO, Gulf Coast Community FCU, Gulfport, Miss.

How Federal Decisions Impact States

If we had the chance to talk to a presidential candidate, our message would be: (A) Please consider the impact of your policies on state regulatory regimes, particularly to ensure the valuable supervisory discretion for state regulators. Having healthy state/federal regulatory regimes fosters competition and innovation between federal and state charters. In fact, the dual-chartering system in the U.S. dates back more than 100 years and is a significant reason the U.S. continues to have the most innovative and dynamic financial system in the world. (B) Please consider supporting an expanded NCUA Boardfrom three to five seats, with one designated for a member with state CU regulatory experience. This change would enhance the board's deliberative process, expand its collective expertise, and improve the efficient administration of NCUA business. (C): We would ask the candidates to support a community of safe, sound credit unions at large, and support (in the context of a dual-chartering system) a strong state-chartered credit union system.

Lucy Ito, President and CEO of NASCUS

The Role of the Three Estates

I would like to discuss the appropriate role of the executive, judicial and legislative branches, and the appropriate scope of executive orders and if the proliferation of these orders pose a threat to the separation of power envisioned by the framers. I would ask if they believe a federal agency such as the CFPB should be exempt from congressional oversight. Would they be willing to aggressively review and, when necessary, eliminate such entities? Where would that fall on your list of priorities and how would you accomplish it?

Nate Webb, President, Oklahoma CU Association

Stay Focused on Consumers

Obviously, the presidential election is critical to our country and the successful candidate will be instrumental to the future economy. It is my hope that the candidates remain focused on the American consumer and their needs. I would remind the candidates that CUs remain an important provider of financial services for many Americans. While disruptive and lightly regulated organizations seek entry into financial services to diversify their profitability, CUs help ensure consumers who otherwise would not be eligible to fund their needs are able to safely do so.

Chris McDonald, president and CEO of Northwest FCU, Herndon, Va.

Increased Regulations Threaten Viability of Movement

Credit unions are member-owned financial service cooperatives whose mission is to serve their members rather than maximize profits. Any surplus is returned to the members in the form of lower interest rates, lower fees and higher returns on members' deposits. The increased regulations on financial institutions are a threat to the viability of credit unions and are reducing the availability of financial services to small business and consumers as a result. More than half of all business loans under $1 million are made by local institutions, so the effect on small businesses and job-creation will be negatively impacted long-term if the federal government continues to impose the same regulatory burden on credit unions that it does for too big-to-fail banks and bad actors, without regard to the difference in actions or performance between credit unions and other financial services providers. How would your administration reduce the overwhelming federal regulatory burden on credit unions allowing them to remain competitive and serve their members?

Jeff Huffman, president, Texas CU Association

Why Credit Unions Do What We Do

I would start by educating them on why we do what we do. With every decision we make, it's important to remember the reason we are hereto serve our members. It is important for us to never lose sight of the "why" because the "how" and "what" will always change; the "why" rarely does. I would ask what policy plans are on the horizon to ensure CUs survive into the future. With mergers and regulatory changes, how can we be sure the credit union model will survive?

Brad Houle, president, C.A.H.P. CU, Sacramento, Calif.

CUs Ready and Willing to Help

I would like to tell them that the American credit union system is strong, and ready and willing to help families and businesses achieve their goals for a better financial future. I would ask them their thoughts on regulation. What do they consider to be an acceptable level of regulatory oversight for community-based financial institutions? What do you think the unintended consequences are for small businesses, and average working Americans, from over regulation? Would you support legislation that would reduce the regulatory burden on community financial institutions which had nothing to do with causing the financial crisis?

Jim Phelps, SVP-advocacy, Cornerstone CU League

A Little Give and Take

What would I tell them:

As credit union leaders, we are also consumer advocates. Please help us find the right balance in consumer regulations. CUs, as not-for-profit cooperatives should be completely exempt from CFPB regulations. Regulatory overreach is hurting consumers by restricting access to affordable credit.

What I would ask them:

Would you support credit unions' efforts to modernize the Federal Credit Union Act so more people can have easy access to affordable financial services, even if bankers objectas they always do?

Dave Adams, CEO, Michigan CU League

Three Questions, Three Statements

Question 1: What is your position on increasing the NCUA board seats from 3 to 5?

My statement: I am for increasing the NCUA board seats from three to five in order to provide additional diversity and dialogue in arriving at decisions impacting CUs.

Question 2: Do you support lifting the business lending cap?

My statement: I support raising the business lending cap. As John Kennedy once said, a rising tide will lift all boats. If we allow CUs more flexibility by raising the MBL cap, it will allow us to serve more members and as these members' businesses continue to grow, they will need expanded services offered by the major banksa win-win for everyone.

Question 3: Do you see any concern with the growing number of "conduits" to qualify individuals for credit union membership?

My statement: There appears to be an abuse of "conduits" in our marketplace, in terms of field of membership. Earlier this year it was reported there were more than 400 CUs doing business in Phoenix, and since there are only about 40-plus CUs in Arizona, over 360 credit unions are from out of state?

Robert D. "Bob" Ramirez, president and CEO, Vantage West CU, Tucson, Ariz.

What Would You Like to Ask — and Tell — the Presidential Candidates?