Why should I advocate for credit unions?
Membership in a not-for-profit credit union is an important option for consumers. Banks and other financial institutions are motivated by maximizing profits for their investors. Credit unions are owned by their members, which means we work only in your best interests. When new laws and regulations are proposed that might restrict your ability to join a credit union or harm the financial health of credit unions, your voice is needed to let legislators know that their constituents are concerned.
Advocacy is your opportunity to help when issues arise that would negatively impact credit unions. We face proposals for new laws and burdensome regulations every year. Such changes, when enacted, hold the potential to cause harm to the financial health of Mid American and other credit unions. This is why we ask for your help from time to time to contact legislators and regulators. This advocacy section of our web site is your source for the latest on issues affecting credit unions and for easy communication with legislators in Washington D.C. and Topeka.
- Small Business Lending Enhancement Act. S.509
Senator Mark Udall (D-CO) recently introduced the Small Business Lending Enhancement Act, S.509, which would raise the credit union member business lending cap to 27.5% of assets. This common sense provision could provide up to $13 billion to small businesses in the first year alone and create over 140,000 new jobs at no cost to taxpayers. Please contact your Senators TODAY and urge them to support S.509.
- What is the credit union difference?
- Why credit unions are consumers best option
- The benefits of credit union membership in Kansas
- Rate comparison between credit unions and banks