16 THE NAFCU JOURNAL March–April 2023 valuable role of the regulatory committee, she said. “Even if a member contacts us, and the decision is made not to move forward at the time, the conversation itself is productive because it may spark another idea.” In addition to participation on the regulatory committee, some members regularly respond to regulatory alerts issued by NAFCU, and other members send their own emails or call, said Petros. “Some topics prompt more active support than others. For example, when the Consumer Financial Protection Bureau (CFPB) was reviewing credit card late fees, we had several calls with credit unions and their credit cards teams and subject matter experts to gather details of what changes by the CFPB would mean to the day-to-day operation of the credit union—these are details I don’t have unless our members share them.” Although credit unions vary widely in terms of resources they can devote to advocacy, Petros and Gale stressed that there are many different ways to get involved at any level. Involvement can include serving on NAFCU’s legislative and regulatory “ I think the most important component of legislative advocacy is connecting lawmakers to their constituencies and communities. Legislators and their staff receive hundreds of letters on different issues and policies, but the most effective communications—written or in-person—are the messages that let them know what is going on two blocks from their district office. ” ALLYSON GALE, DIRECTOR OF POLITICAL AFFAIRS, NAFCU committees, responding to alerts from the regulatory and legislative affairs teams, providing information on the impact of proposed rules and letting the NAFCU team know that the credit union’s subject matter experts are available for calls or meetings with legislators and regulators and their staff. “We also have a monthly NAFCU Economic and CU Monitor survey through our research department that asks about economic trends or special topics of concern,” said Thaler. “Participation in this survey is very important because it helps us develop our plans, and results can identify trends or issues that we need to know.” Most importantly, any NAFCU member can pick up the phone and call NAFCU staff—including direct calls to our CEO Dan Berger, said Thaler. “We are very accessible, and we want to hear from members who have questions or concerns, or who want to get involved,” he said. “Advocacy is an important service we provide our members, and we want their input and feedback to help us form our strategies for the year.” “ Some topics prompt more active support than others. For example, when the Consumer Financial Protection Bureau was reviewing credit card late fees, we had several calls with credit unions and their credit cards teams and subject matter experts to gather details of what changes by the CFPB would mean to the day-to-day operation of the credit union—these are details I don’t have unless our members share them. ” ANN PETROS, VICE PRESIDENT OF REGULATORY AFFAIRS, NAFCU
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