The Cooperative Credit Union Association is an active and vigorous advocate on behalf of Massachusetts Credit Unions. The Association is the voice of the credit union community at the State House in Boston, working for legislation that fosters the success of credit unions.
The CCUA acts as an advocate for the credit unions of Massachusetts, making certain that the needs of credit unions and their members are well known and clearly understood to the lawmakers who draft the laws which govern the operation of credit unions.
That proactive position involves formulating and drafting legislation that allows credit unions to continue in their role as an effective and friendly financial resource for consumers. Defending credit unions from legislative assaults mounted by competitors seeking to use the Legislature in order to gain advantages in the marketplace is an equally important function.
The Massachusetts Credit Union Act of 1909 was the first comprehensive credit union law in the country, and later served as the model for the Federal Credit Union Act of 1934. Today, Massachusetts credit unions continue to make a difference in the live of people, businesses, and communities throughout the Commonwealth each and every day.
An Act to Strengthen the State Credit Union Charter
H.1033/S.720: Sponsors: Rep. Patricia Haddad (Somerset) and Sen. John Velis (Westfield)
An Act Relative to Growth Opportunities for State Financial Institutions
H.1032/S.623: Sponsors: Rep. Patricia Haddad (Somerset) and Sen. Sal DiDomenico (Everett)
November 2, 2021: Letter to Joint Committee on Financial Services on House 1052
October 26, 2021: Letter to Joint Committee on Financial Services on House 1034
The Massachusetts Advocacy Committee meets throughout the year to discuss legislative and regulatory priorities, attend events, and deliberate on policy matters. Membership, free and open to employees and volunteers of CCUA-affiliated credit unions, allows your credit union to have a voice to help shape the local and national credit union advocacy platform.
Credit unions are subject to state and federal regulations that govern the full range of their operations. In addition to the two primary credit union regulatory bodies, credit unions must be well informed about the regulations promulgated by a wide variety of other governmental organizations. The CCUA goes far beyond reporting on new initiatives by taking a proactive role in assisting credit unions to work with regulators to build a regulatory environment that will benefit and protect credit unions and their members. Anticipating regulatory change, promoting dialogue between credit unions and regulators, interpreting existing regulation, and acting as an advocate for credit unions in regulatory forums are vital services delivered by the Association.
The Massachusetts Division of Banks provides access to proposed regulations on their website at: www.mass.gov/dob. Postings also contains copies of the Notices of Public Hearings on proposed regulations which indicate the deadlines for comment letters.
Parity Regulation: 209 CMR 50:00: Credit Union Parity
Advocacy Committees maintain open membership free to employees and volunteers of CCUA-affiliated credit unions interested in lending a voice to help shape the local and national credit union advocacy platform. While a consistent advocacy front is important, attendance at every meeting is not mandatory. If credit union directors, CEOs, or staff are interested in attending, upon review of any meeting agenda, then membership and attendance is welcome. Virtual participation is also available.
Requests to join an Advocacy Committee:
Locally, CCUA member states represent 4.5 million consumers. Our grassroots platform provides many opportunities for you to get involved and stay engaged.
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