GOVERNMENTAL AFFAIRS
POSITIVELY INFLUENCING AN EVER-CHANGING POLITICAL AND REGULATORY ENVIRONMENT
The League represents a unified voice for Maine credit unions both in Augusta and Washington, DC because of your participation. The strength of our movement and our 100% credit union affiliation bolsters our ability to advocate on your behalf and advance our industry’s priorities. Whether we are communicating how credit unions prioritize people over profits or how we collectively raise thousands of dollars each year to fight hunger, policymakers understand the credit union difference because they see it in their communities—positioning us well at all levels of government.
When it comes to advocacy, the League is responsible for representing your credit union’s needs and clearing legislative and regulatory hurdles whenever possible. As part of our commitment to addressing issues impacting your operations, we are engaging with the Board of Real Estate Appraisers to address concerns over the lack of qualified appraisers in the state. Maine has approximately 1:19 certified appraisers to active listings, compared to 1:6 nationwide. Like most political processes, a resolution will not happen overnight. However, as with the slow rollout of e-titling, we hope to push the needle in this area through our efforts.
The strength of our movement and our 100% credit union affiliation bolsters our ability to advocate on your behalf and advance our industry’s priorities.
LEGISLATOR CONNECTIONS
This past year, we welcomed newly elected legislators to Augusta, as well as sophomore legislators to in-person governance for the first time since the pandemic. Our legislative Meet and Greets provided an opportunity for both veterans and newly elected officials to meet credit union leaders in their communities and learn about the credit union difference.
We also restarted our popular Legislative Shadow Day program. Credit union employees once again had a chance to follow their elected representatives at the State House and learn about the inner workings of the legislature. Attendees sat in on legislative sessions in the morning and attended committee hearings in the afternoon. A new program for us this year, Credit Union Job Shadow Days, is providing legislators the chance to visit credit unions and learn about the day-to-day operations. These deepening relationships are a valuable tool in our ongoing advocacy efforts.
EQUIPPING CREDIT UNIONS TO MAINTAIN COMPLIANCE
Credit union compliance is not getting simpler. Changing regulatory frameworks, new state and federal laws, emerging industries, and new examination practices all contribute to the rapidly expanding world of credit union compliance. The League facilitates conversations between you and credit unions of diverse sizes across the state while also growing connections with outside partners. Because no credit union is the same, the League offers a variety of compliance solutions to help credit unions meet their unique needs. Part of how we do that is by providing cost-effective resources to help credit unions effectively and efficiently manage operations. Through membership in the League, credit unions have access to courses, webinars, reports, and both in-person and virtual conferences.
Staff at the League continually work to provide well-researched answers to questions and concerns posed by our credit unions. Helping credit unions navigate complex regulatory requirements and avoid compliance pitfalls is a key component in our valued partnership. We also want to facilitate connections between credit union compliance managers. The League hosts a monthly compliance and fraud meeting to share experiences and expertise within our credit union network. These meetings, which have been occurring for over a year now, have strong engagement and attendance!
