ALLIES Is Allowed One Vote
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CREDIT UNION FACTS: safe. sound. local. Save You Money Owned by Members Credit unions are not-for-profit financial institutions. Every credit union member is an owner of the financial Meaning they offer many of the same products and cooperative, not just a customer. All credit union services as banks—including savings and checking members are owners and elect a volunteer board of accounts, loans, ATMs and online banking—but directors to represent their interests. there areIOWA’S also big differences that CREDIT can save you money. UNION Credit unions are owned and controlled by their Volunteer Board of Directors members, not profit-driven shareholders. That means the average credit union can offer better rates and The credit union’s board of directors is elected by the lower fees. membership and from the membership. Each member ALLIES is allowed one vote. Board members are volunteers and are not compensated for their efforts. Safe & Sound AT THE STATE AND FEDERALHow to Join LEVEL Every Iowa credit union carries federal deposit insurance through the National Credit Union Share To become a credit union member, you must have a Insurance Fund (NCUSIF), administered by the “common bond” with a certain employment group, National Credit Union Administration (NCUA). association membership or a well-defined geographical The NCUA is like what the FDIC is to banks. region. Visit www.FindACreditUnion.com to locate This insurance protects members’ accounts up to credit unions near you that you’re eligible to join! $250,000. Local Credit unions are good corporate citizens and are located within the communities they serve. Credit unions lend more money back to their members thus improving the economy of the communities they serve. follow us @icul like us facebook.com/iowalittleguy w visit us IowaCreditUnions.com/OneMillionStrong Iowa Credit Union League | 1500 NW 118th Street | Des Moines, IA 50325 | IowaCreditUnions.com/OneMillionStrong Iowa Credit Union League | 1500 NW 118th Street | Des Moines, IA 50325 | IowaCreditUnions.com/OneMillionStrong CREDIT UNION FACTS: YOURsafe. VOTEsound. MATTERS.local. Save You Money Owned by Members Credit unionsThank are not-for-profit you forfinancial advocating institutions. the credit unionEvery difference. credit union Your member leadership is an in owner the Iowa of the credit financial Meaningunion they offermovement many is of a thevery same important products reason and that Iowanscooperative, have an alternativenot just a customer.to for-profit All creditbanking union services institutions.as banks—including All Iowans savings and their and checkingcommunities benefitmembers because are of ownersthe competition and elect aprovided volunteer by boardcredit of accounts,unions loans, in ATMs the marketplace. and online banking—butYour grassroots participationdirectors in the to legislative represent process their interests. helps lawmakers be there aremindful also big of differences the taxes credit that can unions save pay,you themoney. products and services offered, as well as the membership and communities served. Credit unions are owned and controlled by their Volunteer Board of Directors members, not profit-driven shareholders. That means The support shown through grassroots activities andThe contributions credit union’s to the board Credit of directorsUnion Political is elected by the the averageAction credit Committee union can (CUPAC) offer better are ratesvital inand our efforts to help lawmakers better understand the credit lower fees. membership and from the membership. Each member union industry and elect legislative candidates who shareis allowed in the one credit vote. union Board philosophy. members are volunteers and are not compensated for their efforts. SafeAs & part Sound of our member engagement plan efforts, we have included in this brochure a list of those candidates running in the 2012 election who are beingHow supported to Join by CUPAC. We hope you will share Every Iowathis creditinformation union carrieswith your federal credit deposit union team as well as your membership. insurance through the National Credit Union Share To become a credit union member, you must have a InsuranceThank Fund you(NCUSIF), for the time administered and energy by you the spend to improve“common the Iowabond” credit with uniona certain movement, employment and forgroup, Nationalyour Credit contributions Union Administration to CUPAC. (NCUA). association membership or a well-defined geographical The NCUA is like what the FDIC is to banks. region. Visit www.FindACreditUnion.com to locate This insurance protects members’ accounts up to credit unions near you that you’re eligible to join! $250,000.Sincerely, Local Credit unions are good corporate citizens and are located within the communities they serve. Credit unions lend more money back to their members thus improving the economy of the communities they serve. Patrick S. Jury Justin Hupfer CEO/President CEO Iowa Credit Union League PolicyWorks follow us @icul like us facebook.com/iowalittleguy w visit us IowaCreditUnions.com/OneMillionStrong IowaIowa Credit Credit Union Union League League | | 1500 1500 NW NW 118th 118th Street Street | |Des Des Moines, Moines, IA IA 50325 50325 | | IowaCreditUnions.com/OneMillionStrong IowaCreditUnions.com/OneMillionStrong IOWA’S STATE CREDIT UNION ALLIES House of Representatives Scott Ourth (D – Ackworth) Tom Schueller (D – Maquoketa) Joe Judge (D – Albia) Nick Wagner (R – Marion) Lisa Heddens (D – Ames) Mark Smith (D – Marshalltown) Beth Wessel-Kroeschell (D – Ames) Dave Heaton (R – Mount Pleasant) Kevin Koester (R – Ankeny) Pat Grassley (R – New Hartford) John Landon (R – Ankeny) Joel Fry (R – Osceola) Linda Miller (R – Bettendorf) David Dawson (D – Sioux City) Phyllis Thede (D – Bettendorf) Chris Hall (D – Sioux City) Dennis Cohoon (D – Burlington) Deborah Berry (D – Waterloo) Bob Kressig (D – Cedar Falls) Anesa Kajtazovic (D – Waterloo) Walt Rogers (R – Cedar Falls) Bill Heckroth (D – Waverly) Tyler Olson (D – Cedar Rapids) Chris Hagenow (R – Windsor Heights) Kirsten Running-Marquardt (D – Cedar Rapids) Peter Cownie (R – West Des Moines) Renee Schulte (R – Cedar Rapids) Rob Taylor (R – West Des Moines) Todd Taylor (D – Cedar Rapids) Linda Upmeyer (R – Clear Lake) Mary Wolfe (D – Clinton) State Senate Dave Jacoby (D – Coralville) Jake Chapman (R – Adel) Mark Brandenburg (R – Council Bluffs) Amy Sinclair (R – Allerton) Mary Ann Hanusa (R – Council Bluffs) Brian Schoenjahn (D – Arlington) Cindy Winckler (D – Davenport) Jerry Behn (R – Boone) Jim Lykam (D – Davenport) Tom Courtney (D – Burlington) Ako Abdul-Samad (D – Des Moines) Rob Hogg (D – Cedar Rapids) Marti Anderson (D – Des Moines) Mike Gronstal (D – Council Bluffs) Bruce Hunter (D – Des Moines) Matt McCoy (D – Des Moines) Kevin McCarthy (D – Des Moines) Janet Petersen (D – Des Moines) Jo Oldson (D – Des Moines) Shawn Hamerlinck (R – Dixon) Rick Olson (D – Des Moines) Pam Jochum (D – Dubuque) Chuck Isenhart (D – Dubuque) Merlin Bartz (R – Grafton) Pat Murphy (D – Dubuque) Randy Feenstra (R – Hull) Helen Miller (D – Fort Dodge) Kent Sorenson (R – Indianola) Henry Rayhons (R – Garner) Nate Willems (D – Lisbon) Clel Baudler (R – Greenfield) Rich Taylor (D – Mount Pleasant) Jack Drake (R – Griswold) Bill Anderson (R – Pierson) Kraig Paulsen (R – Hiawatha) Rick Bertrand (R – Sioux City) Vicki Lensing (D – Iowa City) Steve Sodders (D – State Center) Mary Mascher (D – Iowa City) Brad Zaun (R – Urbandale) Jake Highfill (R – Johnston) Mark Segebart (R – Vail) Chuck Soderberg (R – Le Mars) Jeff Danielson (D – Waterloo) Pat Ward (R – West Des Moines) Iowa Credit Union League | 1500 NW 118th Street | Des Moines, IA 50325 | IowaCreditUnions.com/OneMillionStrong IOWA’S FEDERAL CREDIT UNION ALLIES Iowa Congressional Overview – District One BRUCE BRALEY BEN LANGE (D – Waterloo) (R – Independence) Q: The regulatory burden on credit unions (and other financial institutions) has increased significantly over the past several years. While government regulation is needed to protect safety and soundness, the compliance burden is increasing significantly and, in turn, increasing costs to the member-owners of Iowa credit unions. Would you support efforts to provide credit unions with regulatory relief? BRALEY: Yes. That is why I have added my support to H.R. LANGE: Did not respond. 3461, the Financial Institutions Examination Fairness and Reform Act. This legislation brings fairness to the financial institutions examination process and more transparency to an uncertain regulatory climate. The bill would establish openness within the examination process and make sure credit unions receive their results in a timely manner. It would also allow for a more independent appeals process when there is a legitimate disagreement between the credit union and the regulator. Q: Currently, federal law limits credit unions from making member business loans beyond 12.25% of their assets. There is bi-partisan legislation pending before U.S. Congress that would raise this lending limit to 27.5% of credit union assets. Would you support raising the member business lending cap? BRALEY: Yes. That is why I am a cosponsor of H.R. 1418, the LANGE: Did not respond. Small Business Lending Enhancement Act. This legislation raises the current credit union member business lending cap from 12.25 percent to 27.5 percent. Raising the lending cap will help small businesses create jobs and grow the economy. Q: Do you support the current tax status of credit unions? BRALEY: Yes. I agree with the current tax