January 21, 2025
Dear Credit Union Leaders,
Hopefully everyone is staying warm! We’re still mourning our Lions, but pitchers and catchers report in 28 days! As we look ahead to America’s Credit Unions’ GAC, here are the updates you need.
Announcements
Compliance Office Hours will take place on Feb. 7. For more information, please contact Brad (Bradley.Willett@mcul.org).
Advocacy
In Washington, D.C., President Trump’s inauguration took place on Jan. 20, and the first day of the new administration saw quite a bit of activity. Within the opening hours, NCUA Kyle Hauptman was designated as the new Chair of the NCUA Board. Many sources indicate that replacing CFPB Director Rohit Chopra is also a top priority. The White House also initiated a regulatory “pause” on anything not yet published in the federal register, which appears would include the NCUA's recent succession planning final rule. MCUL and America’s Credit Unions will be closely watching new developments as they unfold. In Congress, as we expected, the initial full list of possible “pay for” items in the upcoming tax reform process does include the credit union exemption from federal income tax. With that confirmation, it will be critical for credit unions and the leagues lean into our advocacy efforts early this year.
In Lansing, the state legislature reconvened on Jan. 8 for the 2025-26 legislative sessions. We are still waiting for formal announcements on Committee Chairs and membership in the House, but Rep. Ann Bollin (R-Brighton) has been tapped to Chair the powerful House Appropriations Committee. There will only be minor changes in the Senate Committee structure with the departure of former Senator U.S. Rep. Kristen MacDonald-Rivet. As previously mentioned, Rep. Matt Hall (R) is now Speaker of the House, Rep. Bryan Posthumus (R) is Majority Floor Leader, and Rep. Rachelle Smit is Speaker Pro Tempore. Rep. Ranjeev Puri (D) is now the House Minority Leader, and Rep. John Fitzgerald (D) serves as the House Minority Floor Leader. Legislation to amend recently re-instated paid sick leave and minimum and tipped wage reforms was introduced in both chambers almost immediately, and the House formed a Select Committee on Protecting MI Employees and Small Business to take up its versions. HB 4001-4002 were reported unanimously to the House Floor and are expected to be taken up by the full House beginning Jan. 22. The Senate versions differ from the House bills, and that chamber has not yet begun discussions on the issue but will be expected to once the House passes its versions over.
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
As mentioned in our prior editions, with regard to federal PAC permission agreements, please keep an eye out for communications about renewal if you are still currently expired for 2025. Thank you to everyone that has already completed theirs and sent it in! Completing and submitting these forms is not an agreement to participate in any particular programs, 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 (Todd.Jorns@mcul.org) or any member of our team with any questions.
Also 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 yours here. Thank you to everyone that has already ordered! If you have any questions please contact DaeSean (DaeSean.Ashby@mcul.org) or Kieran (Kieran.Marion@mcul.org), or if you are having difficulties with postage, please let Laura (Laura.Osminski@mcul.org) know. For those participating in the 2024-25 Plush Program, all of our current toys and backstock from previous years is still sold out. Our team is still taking waitlist orders as we begin 2025 for any returned animals, and please contact Laura to be added.
As always, thank you for all that you do for Michigan’s credit unions! And GO LIONS!!
Sincerely,
Patty Corkery and the MCUL Advocacy Team
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