Be a voice for your awesome credit union.
We know you know credit unions are awesome. (After all, as a member, you’re part owner of one!) But here are some facts that maybe you don’t know:
- Credit unions save Iowans $100 million annually in better rates and fewer fees. (Wowza!)
- There are 1.1 million credit union members in Iowa.
- Credit unions have a $1.25 billion economic impact on the state economy.
- Credit unions continue to pay millions in taxes each year, including state monies and credits tax, payroll tax, sales tax and property tax.
Every once in a while (more often than we’d like!), the Iowa legislature is asked to consider a bill that is, shall we say, unfriendly to credit unions. There are a few ways that you (yep, YOU!) can have a positive impact on the future of credit unions. As a member/owner of your credit union, you can:
- Stay up-to-date on current issues facing credit unions. (This is a great place to start!)
- Contact your state legislators to encourage them to support credit-union-friendly legislation. (Not sure who your legislators are? Find out at www.legis.iowa.gov.)
- Donate to the Credit Union Political Action Committee (CUPAC), the voice for credit unions on Capitol Hill.
- Spread the good word about credit unions to family, friends, coworkers, and, well, gee, everyone you know! (Get started with this handy flyer.)
Current Issues – February 17, 2021
The Iowa State Legislature began its 2021 session on January 11, 2021. We look forward to working with legislators on legislation that improves the financial lives of Iowans, such as prize-linked savings (PLS) programs.
At the start of 2020, nearly half of American households had less than $400 saved. Due to the COVID-19 pandemic and the derecho, even more Iowans are now lacking emergency savings. That’s why Iowa’s credit unions are advocating to bring PLS programs to Iowa. These programs have proven to help individuals improve savings habits across the country. In fact, 33 other states currently allow PLS programs, and the average participant saves $2,000!
Unfortunately, Iowa bankers are putting politics over good policy and working hard to prevent these helpful programs from taking root in our state. We need your help to bring these savings programs to Iowa. Please take a few minutes to email your legislators and ask them to support prize-linked savings.
The Credit Union Political Action Committee (CUPAC) is the voice for credit unions on Capitol Hill. CUPAC talks to legislators on a regular basis, educating them on issues of importance to credit unions and their members. They are our advocates, and we urge you to support their efforts.