The Governmental Affairs Conference (GAC) marked a significant milestone in advocacy as more than 6,000 leaders converged on Washington, D.C. to engage with congressional legislators and regulatory leaders on critical issues impacting credit union members. More advocates from California and Nevada attended than ever before, with over 330 leaders registered.

GAC, hosted by America’s Credit Unions, was particularly significant this year as it came during a time of potential tax reform and regulatory changes that could significantly impact credit unions and their members. This week was one of the most important periods to have a unified voice and be crystal clear about how credit unions serve their members throughout California, Nevada, and across the nation.

“This year’s GAC was a resounding success, demonstrating the commitment of California and Nevada credit union leaders to advocating for their members,” said Scott Simpson, president and CEO of the California Credit Union League and Nevada’s Credit Unions. “With record-breaking attendance, we made our voices heard on critical issues such as preserving the credit union tax exemption and ensuring sensible regulations. We will continue championing the credit union cause going into 2025 so your credit union members have access to affordable financial services.”

Policy Briefings and ‘Hike the Hill’ Visits

Following events that set the stage for several days of advocacy and networking, attendees participated in team-lead meetups, legislative and regulatory policy briefings, and even a Midnight Monument Tour to foster collaboration. Hosted by the League and Nevada’s Credit unions, additional sessions included a regulatory meeting with National Credit Union Administration (NCUA) Chair Kyle Hauptman.

Rep. Pete Aguilar (D-CA), a longtime credit union champion dedicated to strengthening credit unions through legislation, drew from his experience as he addressed all GAC attendees from the mainstage. As a former credit union employee, he emphasized the importance of credit unions in providing financial services to working people and supporting economic mobility.

He highlighted how credit unions prioritize members and communities over shareholder dividends, operating as not-for-profit financial cooperatives. “You always put the needs of your members first,” Aguilar said. “You’re not prioritizing shareholder dividends; you’re prioritizing your members, and you’re prioritizing the community in which you live.”

As mid-week approached, credit union leaders embarked on their “hike the hill” visits to Capitol Hill. Armed with playbooks and key talking points, they had productive discussions with members of Congress and their staff aides. These meetings focused on building relationships and educating lawmakers about the credit union difference.

Credit union leaders shared compelling stories of how credit unions are empowering members, fostering financial literacy, and supporting community development initiatives. They emphasized the cooperative structure of credit unions, where members are also owners, and how this structure makes sure that decisions prioritize consumers.

Preserving the Credit Union Tax Exemption

A central theme was the unwavering commitment to protecting the credit union tax exemption. Attendees stressed the importance of this exemption in enabling credit unions to provide affordable financial services to more than 14 million credit union members in California, over 400,000 in Nevada, and a total of 140 million across the United States.

They highlighted:

• The potential negative consequences of taxing credit unions, including increased costs for members and reduced access to essential financial services.
• The message that “a tax on credit unions is a tax on their members,” emphasizing the need for Congress to recognize the value credit unions bring to the financial landscape.
• Data points demonstrating the significant economic benefits credit unions provide, such as the $3.7 billion generated in California and the $97.9 million generated in Nevada through lower rates, higher savings yields, and lower fees.

Addressing Regulatory Challenges and Opportunities

Credit union advocates also engaged in discussions on a wide range of regulatory issues. They expressed their desire for a collaborative regulatory approach that prioritizes safety and soundness while also providing flexibility for credit unions to innovate and serve their members effectively.

They voiced concerns about regulatory burden and advocated for streamlining regulations and eliminating outdated requirements. Specific regulatory concerns included:

• Overdraft and non-sufficient funds (NSF) fees. Attendees thanked NCUA Chair Kyle Hauptman for the agency no longer publishing overdraft and non-sufficient funds (NSF) fee income for individual credit unions. They also discussed the NCUA’s recent guidance on overdraft and NSF fees, expressing concerns about potential pressure to reduce or eliminate these programs.
• NCUA accountability. Credit union leaders called for greater fiscal responsibility and transparency from the NCUA, urging the agency to rein in spending and prioritize efficiency.
• Third-party vendor oversight. Concerns were raised about the NCUA’s potential expansion of oversight over third-party vendors, with attendees advocating for leveraging existing interagency collaborations to address vendor risks and avoid duplicative oversight.
• Consumer compliance examinations. Attendees expressed concerns about the NCUA’s development of a dedicated consumer compliance examination program, arguing that it could divert focus from the agency’s core mission of ensuring safety and soundness.

Packed ‘Credit Union House’ and NextGen Participation

Nearly 20 members of Congress joined credit unions leaders from California and Nevada to celebrate the credit union difference at Credit Union House on Capitol Hill by Wednesday evening.

Each year, Credit Union House serves as a central hub for promoting the value of credit unions, achieving this through convening key stakeholders, spotlighting credit unions’ impact, providing informative resources, and facilitating collaboration. Constituents from respective California and Nevada districts had an opportunity to connect with their representative in Congress in a more casual and fun way, with a focus on building relationships.

The reception was led by Aguilar, whom Stephanie Cuevas, senior vice president of federal government affairs for the League, has had the honor of working for in the past. The congressman also previously worked for credit unions and has deep ties in the movement.

“The collective power of California and Nevada credit union advocates was on full display as Congressman Aguilar addressed us,” Cuevas said. “It was a spectacular conclusion to the week. We engaged in productive discussions with lawmakers and regulators, emphasizing the economic impact credit unions have in our states. From protecting the tax exemption to addressing regulatory burdens, we continue working tirelessly for credit unions and their members.”

Cuevas also said the League and Nevada’s Credit Unions are especially proud of NextGen leaders who attended GAC this year, representing the future of the movement and continuing to build on the momentum generated during the conference. She would also like to thank every NextGen leader for their participation this year, including:

• Alysia Smith, Government Relations Manager for Customer Owned Banking Association.
• Alisa Holman, Human Resources Professional for Sun Community FCU.
• Amanda Vesely, Branch Manager for Great Basin FCU.
• Julian Zepeda, Personal Financial Advocate, Sr., for Kinecta FCU.

These NextGen “crashers” and emerging professionals added to the energy and enthusiasm of the conference — sponsored by Redwood CU and RIZE CU. They engaged in specialized programming designed to enhance their advocacy skills and prepare them for future leadership roles within the credit union movement.

“As the 2025 GAC concluded, credit union advocates returned to their communities energized and equipped to continue their advocacy efforts,” Cuevas said. “The success of this year’s conference serves as a powerful reminder of the impact that collective action can have in shaping the future of the credit union movement.”