LATHAM, N.Y. — On May 21, credit union representatives swarmed the New York State legislature advocating against the taxation of credit unions and for allowing credit unions to take municipal deposits.
Specifically, the group made more than 80 legislative visits that day seeking to stop legislation recently introduced by State Senator Thomas Morahan (R) to tax federal credit unions within the state dead in its tracks. League and credit union representatives from Morahan's district and around the state made a point of meeting with his staff regarding the proposed legislation. Fellow GAC attendees also signed a petition and delivered letters of opposition to Morahan's office throughout the day.
"Although NYSCUL lobbyists are at the Capitol everyday, during GAC we see the impact of true credit union advocacy," NYSCUL President/CEO William J. Mellin said. "Lawmakers really listen to what credit union leaders have to say…they really make the best spokespeople."
Attendees also encouraged their elected officials to instead advance legislation to permit municipalities to make deposits into credit unions (S. 4071) and strengthen the state charter.
About 100 legislators attended a networking reception following the full day in the state Capitol.
In addition, representatives from the league, credit unions, NCUA and the New York State Banking Department participated in a state-chartered credit union roundtable.
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