The credit union industry is constantly changing, and that means being in touch with lawmakers regarding regulatory issues and concerns is important. Not every credit union faces the same issues or shares the same experiences, but being able to come together and discuss things gives everyone a chance to be heard. This is why each year credit union leagues and associations from around the nation gather in Washington DC to “Hike the Hill” and demonstrate their support for the industry. With this event, representatives can get involved on a personal level and express their concerns and experiences to those who have the power to make changes. This event happens multiple times throughout the year:
- May (15-17)
- June (4-21)
- July (23-26)
- September (11-28)
- October (1-3)
Alabama, Florida, Georgia, Illinois, Idaho, Oregon, and Washington credit union representatives were all in attendance this past week from September 11-14.
Participants may attend the Hike the Hill event different times throughout the year, but for the most part, they meet with the same people. This past week, attendees were able to meet with the NCUA and members of congress who represent their respective states. During the hours allotted for these meetings, a variety of issues were brought up ranging from taxation, pending rule changes, and other concerns related to specific credit unions. This was a chance for lawmakers and representatives to connect face to face and discuss the matters in a more personal, intimate manner. Meeting this way allows for issues to be associated with the faces of the credit union industry, and it makes a bigger impact in the long run. The event is unlike any other in the way that credit union representatives get to participate in the political side of things.
Meetings with politicians and legislators is arguably the biggest draw for credit union professionals when it comes to the event, but there are other opportunities for insight and expression as well. It is a chance to trade industry knowledge and understanding of issues with other representatives from other states. With this opportunity, attendees can see what the landscape of the credit union world looks by networking with other representatives and discussing the important issues that concern others. Again, the face to face aspect of meeting in person lets each league or association be able to build stronger relationships with others and become familiar with different regulatory or compliance issues.
Regulations in the credit union industry are always being altered and developed. Being on top of compliance is one of the most important things a credit union can try to do. This is why events like Hike the Hill are so important because they allow for direct dialogue between the makers of regulations and the people who abide by them. Here at Oak Tree, we stay in touch with all regulatory changes, and take pride in being an expert of all compliance issues. Our forms and disclosures are all up to speed with any state and/or federal regulations so you can have the peace of mind needed to worry about other issues like serving your members.