February 18, 2025
Dear Credit Union Leaders,
February is flying by and we're gearing up for America’s Credit Unions (ACU)’s GAC in just a few weeks! As the legislative wheels keep turning in Lansing and D.C., here are the key updates you need to know.
Announcements
The next compliance office hours will take place on March 7th and our first Cheers to Compliance event will be taking place in person at the YOU conference in Grand Rapids on March 26th. For more information, please contact Brad Willet.
We’re now two weeks out from the America’s Credit Unions GAC. If you plan to attend the GAC but have not yet registered, please do so ASAP. We’ll be pulling ACU’s GAC registration list very soon and will use the list to assign Michigan credit union leaders to our Hill meetings. Also, if you will be attending MCUL Welcome Reception at the International Spy Museum and would like a complimentary ticket to go on a self-guided tour of the Museum, please click the link below and choose the time of your tour. You have until noon on Friday, Feb. 21st to sign up for a tour.
Finally, Michigan’s schedule for the ACU GAC, including Welcome Reception details, can be found at the following link: Government Affairs Conference - Michigan Credit Union League
We will be holding a pair of “Know Before You Go” calls next week on Feb. 25 at 1:00 p.m. and Feb. 27 at 10:00 a.m. Attendance is not required, but we strongly recommend that you join us for one of these sessions for important information, especially if you are a first time attendee! Please contact Todd Jorns for more information.
Advocacy
In Lansing, the legislature remains focused on amending the Earned Sick Time Act (ESTA) and minimum wage laws ahead of the Feb. 21 implementation deadline. Last month, the House passed its version of the legislation (HB 4001-4002).
Last week, the Senate passed their version of changes to the minimum wage SB 8, which includes a gradual minimum wage increase for tipped workers alongside a phased increase to the overall minimum wage. This version was negotiated by House and Senate leadership and is expected to go up for a concurrence vote in the House this week. SB 8 is also tie-barred to HB 4002, suggesting that HB 4002 will likely serve as the vehicle for any final changes to ESTA.
Additionally, the Governor has urged the legislature to delay the implementation of these changes until July 1, 2025, allowing lawmakers more time to develop a solution while giving Michigan businesses additional time to comply. However, it is unlikely the legislature will take this approach. A more plausible scenario is the passage of compromise legislation—if any action is taken at all.
With this issue dominating discussions, it's no surprise that House committees have been slow to get underway, despite assignments being announced weeks ago. We anticipate that once this matter is addressed, committee activity will ramp up.
In Washington, D.C., MCUL’s Advocacy Team is working closely with America’s Credit Unions (ACU) on several key issues ahead of next month’s GAC. A top priority remains protecting the credit union not-for-profit tax status. With Congress preparing to introduce and debate a comprehensive tax package, we must stay vigilant and continue educating federal lawmakers on the importance of preserving this exemption.
Additionally, we are collaborating with ACU and other state leagues to modernize the Federal Credit Union Act (FCUA). Michigan’s own Rep. Bill Huizenga is the lead Republican on H.R. 975, the Credit Union Board Modernization Act, which recently passed the U.S. House and is now under consideration in the U.S. Senate.
Another key initiative is the Veterans Member Business Loan Act (S.110/H.R.507), which has been introduced to exempt business loans made to veterans from the member business lending (MBL) cap.
Finally, we are urging our congressional delegation to support and vote in favor of House Joint Resolution (H.J. Res. 59). If passed by both chambers and signed by the President, this resolution would nullify the CFPB’s Overdraft Rule, which was finalized in December.
For those heading to D.C. for America’s Credit Unions GAC, we’ll be discussing these and other key issues with our federal lawmakers!
For a full update on state and federal regulatory action, please see the “Reg Corner” update in this edition of MILeague Minute.
Grassroots and Advocacy Funding
Don’t forget to keep an eye out for communications about federal PAC permission agreements. We will be contacting those credit unions who have an expired agreement throughout the first quarter. A big thank you to everyone who already completed theirs and sent it in! Completing and submitting these forms is not an agreement to participate in any particular program, and we will not solicit your members or employees without the permission of your credit union. This is purely a compliance requirement on our end. Please feel free to contact Todd Jorns or any member of our team with any questions.
As mentioned in prior editions, communications on the 2025 Lapel Pin Program have been sent out, and you can find information on the program and how to order your 2025 pin here. Thank you to everyone that has already ordered! If you have any questions please contact DaeSean Ashby or Kieran Marion. If you are having difficulties with postage, please let Laura Osminski know. For those participating in the 2024-25 Plush Program, all our current animals and backstock from previous years is still sold out. Our team is still taking a waitlist, please contact Laura to be added.
As always, thank you for all that you do for Michigan’s credit unions!
Sincerely,
Patty Corkery and the MCUL Advocacy Team
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