MA Legislative Update: Interchange Stopped, Board Compensation Bill Advances

The Cooperative Credit Union Association is pleased to share encouraging legislative news from Beacon Hill that reflects the strength of our collective advocacy and the impact of credit unions speaking with a unified voice.

First, two interchange-related bills before the Joint Committee on Financial Services and the Joint Committee on Consumer Protection and Professional Licensure have been sent for study. This procedural action prevents these proposals from advancing during the current legislative session—effectively stopping them for now. CCUA formally testified in opposition and met directly with the Chairs of both Committees to underscore the serious consequences these bills would have had for credit unions and the members we serve. While this is an important victory, it also reinforces the need to remain vigilant as interchange proposals continue to surface in Massachusetts and at the federal level.

We are also excited to report meaningful progress on CCUA’s proactive legislation, An Act allowing fair compensation of Massachusetts credit union directors (S.821/H.1338). This bill has been favorably reported by the Joint Committee on Financial Services, clearing its first major legislative hurdle. Senator Pavel Payano’s bill (S.821) has been referred to Senate Rules, and Representative Andy Vargas’s bill (H.1338) has moved to House Steering, Policy, and Scheduling. This momentum keeps the legislation active and positions it for potential consideration by the full House or Senate.

These advancements are a direct result of strong engagement from CCUA and our member credit unions. With more than 6,000 bills filed this session, advancing our priorities—and stopping harmful proposals—demonstrates the effectiveness of our relationships and sustained advocacy on Beacon Hill.

Thank you for your continued support and involvement.