News Release: GAC Attendees Talk Taxes & Municipal Deposits With Their Legislators

(May 25 - Latham, NY) – The New York State Credit Union League held its annual Governmental Affairs Conference May 21 in Albany. NY.

Attendees conducted more than 80 legislative visits on Monday, May 21, encouraging their elected officials to advance legislation that would allow municipalities to make deposits into credit unions, pass legislation to strengthen the state charter, and most importantly to protect credit unions’ tax-exempt status. Specifically, the credit unionists asked legislators to defeat new legislation introduced by Senator Thomas Morahan (R-Westchester/Rockland) to tax federally chartered credit unions.

League and credit union representatives from Morahan’s district and around the state made a point of meeting with his staff regarding the proposed legislation. Fellow GAC attendees also signed a petition and delivered letters of opposition to Morahan’s office throughout the day.

CUNA’s "Little Guy," Project Zip Code data and memos of support were among the lobbying resources that GAC participants provided to legislators.

"Although NYSCUL lobbyists are at the Capitol everyday, during GAC we see the impact of true credit union advocacy," said William J. Mellin, president/CEO, New York State Credit Union League. "Lawmakers really listen to what credit union leaders have to say… they really make the best spokespeople."

A legislator reception where GAC participants and League staff networked with elected officials followed. Even with the legislature in session, turnout was impressive, with 100 legislators attending the festive event.

Earlier in the day, representatives from the League, credit unions, National Credit Union Administration (NCUA) and New York State Banking Department participated in a state-chartered credit union roundtable.

The New York State Credit Union League (NYSCUL) has served as the trade association for the state’s credit unions for 90 years. It is the fifth largest league in the country. New York credit unions have assets of more than $37 billion and more than 4.1 million members. To learn more about the League, visit www.nyscul.org.

Senator John J. Flanagan (R-Long Island) (center) was briefed on credit union issues and introduced to credit union’s "Little Guy" when visited by (l-r) Robert Allen, Teachers FCU; Amy Kramer, NYSCUL; Lou Jimenez, Montauk CU; and Brian Clarke, Bethpage FCU during NYSCUL’s Governmental Affairs Conference in Albany. Sen. Flanagan is the sponsor of the League’s Municipal Deposits bill (S.4071).

(l-r) Senator Stephen M. Saland (R-Catskill/Hudson), sponsor of bill S.4629 that would allow credit unions to participate in the Excelsior Linked Deposit Program, met up with Kathy Ferrusi, Hudson Valley FCU, at a legislative reception held by NYSCUL during their annual GAC.