Petition for Cooperative-Minded Credit Union Regulator Garners National Support

Share Article

Credit union consulting firm Callahan & Associates reports credit union members and leaders in all 50 states support the petition calling for NCUA leaders who support and understand the cooperative model.

I'd love to challenge another credit union to match our success! I see from that Michigan and North Carolina are the two states with the most signatures so far. Who will rise to the challenge?

Two weeks ago, a group of concerned credit union leaders launched a petition on We The People. Officially helmed by the group Co-Ops For Change, this petition respectfully asks that President Obama nominate NCUA Board Members who understand and support the cooperative model.

Since the launch, credit union members, cooperative supporters and concerned citizens in all 50 states have signed the petition, accounting for 4% of total signatures needed. Now, with less than two weeks to go, continued national support is vital to achieve the 100,000 signatures needed to warrant an official response from the White House.

In the days since the drive toward 100,000 signatures officially began, a number of industry leaders have participated in the “What’s Your #” Campaign where anyone who supports the cause is invited to share their signature number on the petition and explain why they believe this movement is important via videos and blogs. The drive to reach members has even led to some spirited challenges within the credit union community.

“I have received emails from our members saying they love their credit union and want to help,” Said Paul Stull, Senior Vice President of Strategy and Brand at Arizona State Credit Union. “If any other credit unions are worried about negative feedback, I can assure them we have had none. I'd love to challenge another credit union to match our success! I see from that Michigan and North Carolina are the two states with the most signatures so far. Who will rise to the challenge?”

Cooperatives fill a special role in consumer financial services. In 2012, 2.1 million new members chose to join a member-owned and member-funded institution. Credit unions granted a record $330 billion in new loans, helping millions access the record low rates, refinancing debt and creating more confident consumers. More than 90 million Americans are now members. This petition is a public effort to offer these members a chance to show their support for cooperative principles – and why they have chosen credit unions over banks.

To achieve the 100,000 signatures required to receive an official response from the White House, this campaign needs 10,000 signatures a day. To learn more, visit http://www.coops4change.org. The petition itself can be viewed and signed on the official White House Website: We The People.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Jennifer Rosenbaum
Follow us on
Visit website