The League serves as your exclusive representative in Carson City and Washington, D.C., dedicated to amplifying your voice. We empower Nevada credit unions to make a positive financial impact on their members’ lives through steadfast support of your leadership, management, and volunteers. We create awareness through innovative guidance and strategy, and we’re always working to secure your credit union’s future through advocacy, compliance, professional development, business solutions — and more.
Major Victories in Nevada Legislature
Fighting for Your Credit Union
We consistently work with assemblymembers and senators to craft state laws that have a better impact on locally member-owned credit unions.
To view all 16 Assembly, Senate, and League-engaged bills, click here.
This bill enhances financial literacy in schools by requiring that 0.5 units of economics instruction include financial literacy. The League testified in support of the bill, providing a brief overview of credit unions and their ongoing commitment to financial literacy. Because of the League’s strong support and commitment to financial literacy, the bill’s sponsor — Nevada Assemblyman Duy Nyguen (D-Las Vegas) — invited League members to attend the bill-signing with Governor Joe Lombardo. Danny DeLaRosa, Michael Thomas, and Michael Hale of Greater Nevada CU attended the ceremony.
This bill implements several provisions related to various aspects in the banking industry. Most notably for credit unions, it extends existing provisions governing requirements for a financial institution to report known or suspected exploitation (of older or vulnerable persons) to also include procedures that a financial institution may take to temporarily delay a requested disbursement from — or a transaction involving — an account of an older or vulnerable person. This additional tool will help credit unions combat instances of elder financial abuse. Prior to the bill’s introduction, one suggestion made during discussions by industry stakeholder groups was to remove Nevada credit unions’ tax-exempt status. The League took immediate action to refute the claims being made against credit unions and was successful in ensuring that no such provision was included.
This bill was requested by the Nevada Justice Association (trial bar). It would have prohibited the inclusion of mandated arbitration agreements in life and gap insurance contracts. The League worked with the trial bar and successfully amended the bill to exclude life, credit life, and gap insurance policies, which was a huge win for Nevada credit unions. The final bill only impacted certain health insurance contracts; however, it was then vetoed by Governor Joe Lombardo.
Our Triumphs in Congress
Staying Alert on Your Behalf
We proactively stay ahead of congressional legislation in Washington, D.C. and important legislative and regulatory conversations that have ramifications for your credit union. The League is alert on Capitol Hill so you can focus on what you do best — serving your members. The 118th Congressional Session had not reached a halfway point when this was published in November 2023. Each Congress lasts two years, with the current session ending in 2024.
The League orchestrated opportunities for dedicated advocates to make their voices heard on 120 occasions, engaging face to face with members of Congress, congressional candidates, and their staff. From coast to coast, passionate credit union leaders told the story of the credit union difference across California, Nevada, and Washington, D.C. The League extends its heartfelt gratitude to all those who participated in the Governmental Affairs Conference (GAC), Hike the Hill gathering, and local meet-and-greets. Together, our dedication makes a huge impact in the advancement of our policy priorities. This impressive level of engagement showcases our movement’s unwavering commitment to advocacy and underscores the impact credit union leaders can achieve when we speak with one unified voice.
The League strongly opposes changes to credit card interchange and H.R. 3881 / S. 1838, the Credit Card Competition Act (CCCA). Although this standalone bill has not gained much momentum, authors of this legislation attempted to advance the measure by introducing the CCCA as an amendment to a spending measure in the Senate. With the assistance of credit union leaders and advocates, the League made our industry’s voices heard, sending thousands of messages opposing this measure. Ultimately, this bill was not included in any spending package as of November 6th, 2023. We will continue monitoring the bill and oppose any efforts to advance it. This ill-advised legislation would prohibit financial institutions with $100 billion or more in assets from restricting the number of credit card networks a transaction can be processed on — an impact that would be felt throughout the entire financial services industry.
The League continues to advocate and fight for this bill, clearing legislative roadblocks in the Senate. The Senate Banking Committee passed S. 2860 — the Secure and Fair Enforcement Regulation (SAFER) Banking Act — by a vote of 14-9. We supported this bill and gained support from senators in California and Nevada. In fact, Senator Catherine Cortez-Masto (Nevada) was influential in the bill’s passage in committee, officially stating she has heard from business owners and employees regarding individuals who fear for their safety and struggle to open deposit accounts (or qualify for mortgage loans) due to their cash-based livelihoods within the cannabis industry. Building support for the measure, Senators Jacky Rosen (Nevada) and Alex Padilla (California) cosponsored the bill. This bill would offer narrowly targeted federal protections for credit unions and other financial institutions accepting deposits, extending credit, or providing payment services to an individual or business engaged in cannabis-related commerce in states where such activity is legal with a safe harbor. It also provides a safe harbor to credit unions and employees who are not aware if their members are involved in the cannabis business.
During the COVID-19 pandemic and lockdowns, credit unions and businesses innovated their electronic notarization service processes. The League supported legislation that would create a national standard for virtual notaries. H.R. 1059, the Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act, passed in the House of Representatives. As the bill is considered in the Senate, we will continue advocating for its passage.
Due to the League’s proactive advocacy efforts, the House of Representatives passed H.R. 582, the Credit Union Board Modernization Act. This bill provides parity with state-chartered credit unions by allowing federally chartered credit unions to remove the monthly board meeting requirement and move to one per quarter (and no fewer than six per year). Authored by Congressman Juan Vargas (California), the bill passed unanimously. Its passage comes after successfully passing the House in 2022. During the 117th Congress from last session, 30 of 53 California members of the House co-sponsored this bill, as well as all four House representatives from Nevada. We continue advocating for its full passage.
As legislators deliberate on the role of digital currencies in our financial services sector, the League remains steadfast in advocating for credit unions to safeguard their position within this evolving landscape. During the House Financial Services Committee’s discussion on stablecoin and digital assets, the League submitted a letter emphasizing the need for regulatory equity. League President and CEO Diana Dykstra called for prioritizing consumer protections and establishing regulatory standards on par with those applicable to credit unions and other financial institutions. Since 2017, the stablecoin industry has grown to more than $130 billion nationwide, and its impact on the U.S. economy has expanded significantly. Stablecoin issuers introduce a unique form of currency that can carry distinct monetary policy implications. Currently, credit unions may not issue or have custody of stablecoins, but it’s a potential avenue in the future. We continue advocating for credit unions on this front.
Powerful Achievements: PAC & Grassroots
Supporting the Credit Union Cause
Directly connecting your credit union’s supporters to state and federal legislators through our Connect for the Cause action-alerts remains a top priority and is extremely valuable to our movement’s political voice.
With your help throughout the year, we sent nearly 26,900 Connect for the Cause messages to members of Congress from Nevada and California telling them to protect credit union members’ card data by opposing the Credit Card Competition Act (CCCA).
Fundraising & Meetings with Elected Officials
We are dedicated to educating elected officials and their communities about the credit union difference.
Our Nevada Credit Union League State PAC (Political Action Committee) raised $87,000! The League PAC also hosted seven in-person state and federal district meetings, fundraisers, and check presentations, raising more than $20,000 to protect credit union-friendly candidates. We want to thank Greater Nevada CU, Silver State Schools CU, and Clark County CU for graciously hosting these events.
On the national side, the League raised $9,552 toward the Credit Union Legislative Action Council (CULAC) Federal PAC through individual giving during the GAC Sweepstakes, June $30 by 30th Challenge, REACH Sweepstakes, and ongoing payroll deduction programs.
Nevada credit union leaders and advocates also went above and beyond as they crushed two fundraising goals this year! First, a record-breaking $7,197 was raised during the yearly Governmental Affairs Conference (GAC) — coming in eighth place nationwide (which crushed the League’s goal of $5,000). Secondly, $840 was raised during the June $30 by 30th Challenge, surpassing the $250 goal.
The League orchestrated an important meeting with Congresswoman Susie Lee (Nevada), where credit union leaders had the opportunity to engage with the congresswoman and discuss important industry and member-centric issues. We also organized several state and federal lobby-day visits between credit union advocates and their elected representatives across Nevada through the Nevada Government Relations Rally (GRR) in Carson City, the Governmental Affairs Conference (GAC) on Capitol Hill in Washington, D.C., and Hike the Hill in Washington, D.C.
Big Wins in Regulatory Reform
Federal & State Impact
We closely monitored a plethora of regulatory issuances and provided vital information daily and weekly to help you stay informed on regulatory actions. We also advocated for — and helped ensure — outcomes that positively impact credit unions and their members.
We hosted six exclusive meetings with regulators and League members, including:
- U.S. Treasury Department Assistant Secretary of Financial Institutions Graham Steele (during Hike the Hill).
- Consumer Financial Protection Bureau senior officials (at the CFPB’s headquarters during Hike the Hill).
- National Credit Union Administration Chairman Todd Harper (during the Governmental Affairs Conference and the League’s REACH 2023 convention).
- National Credit Union Administration Western Region Director Cherie Freed (to discuss supervisory and examination issues).
We fought for your credit union’s interests at every opportunity and stayed proactive on the regulatory frontlines, including:
- Urging the National Credit Union Administration to institute a floating federal credit union interest rate cap to allow credit unions to provide competitive products that address the needs of their members and steer them away from risky products.
- Strongly opposing the Consumer Financial Protection Bureau’s efforts to expand the scope of Regulation E and hold financial institutions liable for fraud on peer-to-peer platforms.
- Raising concerns to state and federal regulators regarding the harmful mischaracterization of “fees” in financial services.
- Continuing our calls on the CFPB regarding tailored regulations and greater use of exemption authority and collaboration and relationship with the NCUA.
- Providing comments to the CFPB regarding proposals on credit card late fees and open banking; comments to the NCUA regarding climate-related financial risk; and comments to the Federal Housing Finance Agencyregarding the Federal Home Loan Bank system.
In 2022, Nevada state legislative staff flagged a potential review for sunsetting the Nevada Credit Union Advisory Council through the Nevada Department of Business and Industry (under Nevada Revised Statute 672.290). However, through our advocacy efforts and relationship-building, Nevada officials ultimately chose not to discontinue the council. This decision keeps the door open for continued dialogue between credit unions and the state — in 2023 and seemingly in the future. The League remains vigilant in monitoring and ensuring the continued existence of this valuable council. This commitment ensures credit union leaders throughout the state can continue to have their voices heard on key policymaking that impacts our industry and local communities.
Compliance for Superior Performance
Oftentimes credit unions forego accessing their legal counsel because the League’s compliance resources provide the answer — quickly and efficiently. Compliance Hotline consultants have the expertise; CU PolicyPro has more than 200 model policies; and InfoSight offers both federal and state-specific compliance information.
From January to October of 2023, Nevada and California credit unions accessed InfoSight 8,586 times, made 1,572 calls to the Compliance Hotline, and benefitted from CU PolicyPro 1,032 times. Approximately 134 credit unionsused InfoSight, 177 used the Compliance Hotline, and 158 used CU PolicyPro.
Fostering and Facilitating Professional Development
High-Impact Options Leverage Virtual & Onsite Strengths
We harnessed the capabilities, conveniences, and unique tools in today’s learning environment to deliver a valuable set of relevant educational and professional development options.
The League unleashed exclusive educational choices to help your staff grow, including:
- Eight signature events — such as REACH, the Leadership Summit, Summit Roundtables, the inaugural Mid-Sized CU Forum, CU FinHealth, CU Impact, Joseph A. McDonald Attorney Conference, and the Shapiro Summit. Altogether, these signature events continue attracting thousands of credit union leaders every year.
- Nearly 100 credit union employees throughout Nevada and California were certified through the hybrid Financial Counselors Academy. They can now provide invaluable services and support to members who are navigating their personal financial journeys!
Our League Educational Calendar’s opportunities delivered a wide variety of valuable educational options all year long.
- The League’s eTrain and Power Learner Passport (PLP) platforms saw 5,683 webinars ordered, 196 credit unions participate, and more than 1,840 learning hours delivered.
- Your Economy — Your Credit Union continues to be a yearly favorite and grows in online/virtual audience size, with CEOs, CFOs, board directors, and senior management attending.
- The Data Institute held five Data Activation courses and two Deep Dive Data Governance sessions to provide your credit union’s staff with a formal structure it can use to manage access, quality, and security when delivering key elements needed to launch a formal data governance program.
Community Impact Highlights
The League’s involvement in philanthropic causes, networking, inaugural events, and signature gatherings spotlighted rare opportunities for professionals to grow, develop, and contribute back to our movement.
- More than 60 credit unions raised nearly $211,000 at the 2023 Credit Union Sactown Run, benefiting Children’s Miracle Network Hospitals and showcasing the partnership credit unions have with CMN Hospitals. Nearly 2,000 runners took over downtown Sacramento in front of the California State Capitol for the cause!
- Credit Unions for Kids Wine Auction: Nevada and California credit unions raised more than $1.7 million this year.
- We also provided your staff with unique tools for financial education and community impact. CU FinHealth brought together more than 200 attendees to discuss multi-sector solutions in financial wellbeing and health, learning from each other, exploring strategies, and leveraging technology to improve members, employees, and communities’ financial wellbeing.
- CU Impact (an exclusive forum launched this year) attracted more than 60 attendees to help credit union leaders and practitioners, giving them the opportunity to collaborate, engage, learn, and connect to create positive and sustainable change in the communities they serve.
- SCE FCU in Nevada was designated a Juntos Avanzamos credit union with the League’s help, joining 16 fellow Juntos Avanzamos (“Together We Advance”) credit unions throughout underserved Hispanic and immigrant communities (in California).
- The game-show team from SCE FCU won The PITCH during our REACH conference with its “Revenue — A Women Entrepreneurs’ Workshop” idea! The team was awarded $10,000 to support broader implementation of this fledgling, innovative program.
Communications & Solutions with a Purpose
Our Commitment to Unique Value
Our primary commitment is to ensure credit unions are well-informed, well-connected, and well-prepared to navigate challenges and seize opportunities.
The League is your go-to source for the latest industry trends, regulatory and legislative changes, and marketplace updates. We provide real-time information to keep you ahead of the curve through communications such as Diana’s CEO Call Recap, From the Desk of Diana, A Message from the Leagues, CU Weekly, Education & Professional Development, Risk Alerts, and the Advocacy Blog.
- Webinars, Workshops, and Committees: These are dedicated to fostering growth strategies, featuring industry leaders and experts who can help credit unions address the challenges of tomorrow. Some of our programs include the Mid-sized Credit Union Committee, CU Impact initiative, Next Gen Committee, and various networks.
- Access to Industry Experts: Your direct access to industry experts, consultants, and thought leaders offer guidance and expertise to tackle growth challenges and opportunities. Initiatives such as our yearly online Your Economy—Your Credit Union event and Local Economic Outlook updates contribute to these initiatives.
- Market Research and Data Analysis: Our in-depth research and analysis provides valuable insights to help you make informed decisions and identify untapped growth potential. The Quarterly CU Performance Report is a key component of this effort.
- Tailored Solutions for Your Success: Our solutions support credit unions and their members, with a focus on maximizing your membership’s potential. This encompasses insurance and lending, member growth and retention, revenue and rewards, and operational efficiencies. We vet every partner carefully to ensure its value to credit unions.
- ViClarity and Humanidei + O’Rourke: Our League-owned companies are specifically designed to support credit unions in the areas of compliance and human capital solutions.
- As we move forward to deliver our annual REACH 2024 Conference, League Networks, Nevada Government Relations Rally (GRR), national Governmental Affairs Conference (GAC), Summit Roundtable Conference (SRT) and Shapiro Summit, our solutions team is here to help you make the most of your membership, ensuring you are well-prepared for the journey ahead.