The effort to enact into law the Credit Union Membership Access Act (HR 1151) was effectively a two-year marathon that generated scores of memories–good and bad, high and low, exciting and tedious, raw and urbane.

When President William Jefferson Clinton signed the Credit Union Membership Access Act (HR 1151) on Aug. 7, 1998, there were great expectations for both membership growth and market share.

As Chair of NAFCU at the time, I saw the battle of the AT&T Family FCU case as a wake-up call for credit unions. I am proud to say we answered with a swift, strategic plan of action to get H.R. 1151 passed.

I vividly recall April 30, 1998. Our Annual Membership Meeting was in session with keynote speaker CUNA Mutual Group CEO Mike Kitchen.

It is about 110 miles of flat, sage-brush driving between Midland and San Angelo, Texas.

R. 1151 was a tremendous victory for credit unions. As former president of Navy Federal Credit Union and a NAFCU board member, it is very gratifying to have been part of this landmark achievement. In fact, perhaps the bond H.R. 1151 created among individual credit unions as well as trade groups is what best characterizes that campaign.

The credit union movement has not been without its historic periods. In fact, the idea that consumers could come together to pool their funds for joint economic prosperity is pretty historic in and of itself.

WASHINGTON - “The thing I remember the most was the response of the credit union members when we needed them the most to push it (the bill) over the top,” observed U.S. Rep. Paul Kanjorski.

WASHINGTON - “My first memory is the serious situation in which the credit union movement found itself after the court decision,” said Paul Sarbanes, then the senior Democrat on the Senate Banking Committee.

WASHINGTON - “There are really two things that stick out in my mind,” said Steve LaTourette, the Ohio Republican who was one of two chief sponsors of HR 1151. The first, he said, was being handpicked by then-House Speaker Newt Gingrich to be the Republican’s main sponsor (Democrat Paul Kanjorski had already agreed to introduce the bill).

ALABAMA

ARVADA, Colo. - Banks may have the big bucks, but credit unions have a secret weapon in the political advocacy battle: members.

There it was in black and white: The real difference between credit unions and banks.

What messages are the advocacy program trying to get out there?

The recent upheavals in the mortgage market and the credit markets broadly have garnered an extraordinary amount of attention in the media, and with good reason. Ripple effects throughout the economy are now being manifested by slower growth and a dramatic drop in consumer spending. On the housing side of the ledger, increases in the number of foreclosures, volatility in interest rates and sharp declines in housing starts and, in some markets, housing prices, have all contributed to greater awareness of the need for careful and prudent mortgage lending by all participants in the market, including credit unions.

During my tenure as chairman, one of the most difficult and contentious issues facing NCUA has been the rights of credit union members to decide on the structure of the member-owned financial cooperative. This issue has received attention on Capitol Hill and in the media through credit union conversions.

As Congress continues to search for the best strategies to jump-start a stalled economy, our elected officials need to fully recognize the significant potential of credit unions to serve as a catalyst in helping businesses and consumers regain financial momentum. And with more than 4,000 credit union leaders here in Washington for CUNA’s Government Affairs Conference, the timing could not be better for each of us to send a clear message to our respective federal legislators and their staffs: it’s time to quickly remove the unnecessary regulatory shackles that restrict credit unions from helping our nation’s economy move forward.

When I travel around the country and speak at conferences, one question I always get asked by credit unions is: “What are the hot examination issues this year?” Recently, I moderated a webinar with NCUA staff squarely on this topic. Two issues were discussed: the evaluation of third party relationships and strategic planning.

The issue on everyone’s mind today: Growth. Credit unions of all sizes, CUSOs, and even consultants and vendors serving the credit union industry are all wrestling with the struggle to grow. I am not going to recount overall industry growth rates or trends in the financial services industry. The growth challenge is most acute at the personal, individual credit union level among credit union CEOs, board members, branch managers and marketing people. Everyone is feeling the heat.

Bachelor’s degree required, MBA preferred.”