Advocacy Is Key to Telling the Credit Union Story

Iowa credit unions are no strangers to helping Iowans with their financial needs. From making loans to small businesses, deferring loan payments for members during the pandemic or being a local financial partner, credit unions consistently rise to the occasion to meet members’ needs and champion the mission of “people helping people.”

Iowa credit unions have more than 1.5 million members – a potent political force by anyone’s estimation. However, credit unions are only as strong as the policies and regulations that guide them. To influence public policy in both Washington, D.C. and the Iowa State Capitol, credit union members and employees need to be organized and activated.

This past year, Iowa credit unions came together to discuss the legislative issues that impact the financial needs of Iowans with elected officials and share the value of the credit union difference. They did this through engagements like attending local legislator town halls, sending emails and personal handwritten letters, and traveling to the state capital to visit the Iowa Congress. In Iowa, 2,277 advocates sent messages to their legislator and more than 260 attended either state or federal hill hikes. These numbers only graze the surface of the power of advocacy.

With the help of advocates and despite the best efforts by bankers, Iowa credit unions were able to maintain a strong state charter in 2022. We focused on addressing the most significant financial barriers for members, including accessible childcare and affordable housing, and saw bills signed into law addressing these issues, including a new pilot program to address dilapidated housing. On the federal level, we advocated to prevent changes to interchange fees and grew support for federal board modernization by Iowa members of Congress.

Iowa credit union advocates have found power through telling their credit union stories. They are trailblazers who know the positive impact credit unions have on the financial well-being of Iowans and realize that sharing stories is an influential advocacy tool. Our advocates are effective messengers and legislators want to hear from them.

At Ascentra Credit Union, I am honored to be a member of the Champions program, a formal initiative for credit union employees to receive advocacy training and identify peers who share in a passion for the financial wellness of Iowans. The opportunity to be an inaugural member of the Champions program was offered to me by then CEO of Ascentra, Dale Owen. Dale radiated an infectious devotion to serving the underserved and possessed an unparalleled commitment to helping people in need.

Advocacy is one of the ways I try to give back to credit unions and pay homage to the legacy of the advocates that came before me. At 39 years old and in the middle of my career, sharing the value credit unions bring to the communities they serve has become one of my greatest passions.

I graduated from college in 2007 just in time for the subprime mortgage crisis to plunge the world into the Great Recession. I quickly discovered graduating with honors will not help you get a job when no one is hiring, and job or no job, payments for the $50,000 in student loans started coming due six months after commencement. The first year after graduating, I taped shipping boxes part-time at a distribution center, and while I was grateful for the work, it was not how I envisioned my future.

Things changed in 2008 when I accepted a teller position at Ascentra. Within a year, I was promoted to training coordinator, and over the next decade, I earned four more promotions before landing in my current role as vice president of human resources. While I take pride in these accomplishments, I am most grateful for the sense of purpose I gain from meeting our members’ financial needs and sharing the credit union story. I know the good credit unions do because I have benefited from them personally. I am proud to be a credit union champion; these are the reasons why I advocate, and why I work to activate and empower new credit union advocates.

Additionally, connecting with elected officials plays an important role in building our relationships with decision makers, helping us to stay relevant and showing our power in numbers. We continue to educate, raise funds and campaign for candidates who support our initiatives.

Asking employees and members to give funds to advocacy efforts is a touchy subject, but we have found that the more we educate on the threats to members and credit unions, and develop a channel to listen, the more likely an individual is to give. Ascentra is committed to educating on advocacy efforts by sharing how the funds help develop and pass legislation that benefits the financial health of Iowans. When the Champions program began seven years ago, 12% of our staff gave to Iowa’s Credit Union Political Action Committee (CUPAC) for an annual total of $3,000 per year. Fast forward to today and our staff participation has increased over 300%, and the annual contribution has more than doubled.

One of my favorite advocacy moments happened in 2018 when bankers came on the attack and lobbied for legislation to change Iowa credit unions’ tax code. When advocates were needed most, nearly 1,000 credit union supporters showed up at the Capitol to protect financial choice for Iowans and ward off bank attacks. I was proud to personally attend this event, which resulted in numerous media stories, thousands of social media impressions and, most importantly, legislators saying no to the bad bank legislation.

If you are looking to start an advocacy program, I have witnessed a simple and successful jumping off point. Gather employees together and ask them to share stories about helping members when no one else would, or how they coached members through difficult financial situations after being preyed upon by for-profit financial services organizations. These are the stories that elected officials want to hear so they can provide specific examples of the positive services credit unions provide to their constituents. I have participated in these collaborative sessions, heard employees’ stories and witnessed their peers gain a deepened connection to the “why” behind our credit union mission. It’s a beautiful thing.

While we have made great strides in our advocacy efforts, there is still work to be done. We pride ourselves on being not-for-profit, financial cooperatives because we genuinely care about the communities we live and work in. We must continue to recruit new Champions, educate elected officials on the credit union difference and share these powerful stories. By doing this, we can continue to impact our members every day and advocate on their behalf.

Matthew DeBisschop Vice President of HR Ascentra Credit Union Bettendorf, Iowa