News Release: Roundtable, meeting brings Sen. Donnelly and Indiana’s credit unions together to discuss S. 2155
May 14, 2018
INDIANAPOLIS -- A recent roundtable event and meeting brought leaders from Indiana’s League and credit unions together with Sen. Joe Donnelly to discuss important issues, especially S. 2155. These two events were part of ongoing efforts to work closely with the Senator, given his key role with the legislation, so that S. 2155 could pass the Senate and move closer to House passage.
 
Indiana League Chairman/KEMBA CU CEO Karla Salisbury and League President John McKenzie participated in a Roundtable with Sen. Donnelly that also included representatives of the Indiana Bankers Association, US Chamber of Commerce and Indianapolis Chamber of Commerce. The focus of the discussion was S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, that Donnelly co-wrote and helped pass in the Senate, and how it would reduce regulatory burdens on Main Street for credit unions and community banks — including 154 credit unions and 103 community banks in Indiana — and provide new protections to consumers, including servicemembers, veterans, and those impacted by the Equifax cyber breach.
 
“This legislation is common-sense regulatory relief that will benefit Indiana’s credit unions and their 2.4 million members,” said McKenzie at the roundtable in his statement to the media there. “We appreciate Senator Donnelly’s leadership and solutions-focused approach in co-writing and securing bipartisan support for the legislation. As member-owned not-for-profit financial cooperatives, credit unions are especially pleased that it contains reductions in unnecessary regulatory burdens and the associated costs, will provide increased flexibility for lending to local businesses and also includes consumer protections.”
 
Salisbury added, as part of her statements at the roundtable, “We are very appreciative of Senator Donnelly’s leadership on this legislation. It will benefit consumers and business owners who belong to credit unions by eliminating some unnecessary regulations and constraints related to the services those members need. The members will be the ultimate beneficiaries of lower costs for credit unions to comply with regulatory requirements because counterproductive regulations would be reduced through this legislation.”
 
“This bill would make it easier for community banks and credit unions across Indiana to help Hoosiers grow their small business or get a mortgage to buy a home,” Donnelly explained. “Importantly, it is a prime example of what can be achieved when we work together in this case over several years to break through the gridlock. The President has said he will sign it into law, and I am hopeful the House will take up this common-sense bill so it can be enacted.”
 
At another meeting on the next business day following the roundtable, Indiana credit union representatives from around the state also were able to talk with Sen. Donnelly. The meeting was held at FORUM CU in Fishers, Ind., and hosted by them (CEO Doug True) and the Indiana Credit Union League. More than 60 credit union leaders gathered to hear the latest news about the legislation from Sen. Donnelly and to thank him for his efforts.
 

 

More than 60 attended the event with Sen. Donnelly including, from left: Bryan Price, Indiana University CU; League SVP Governmental Affairs Chris Beaumont; Paul Marsh, Teachers CU; Indiana League Chairman Karla Salisbury, KEMBA CU; Sen. Donnelly; League Director Matt Lambert, Encompass FCU; Doug True, FORUM CU; League Board Secretary Kevin Ryan, Financial Center First CU; Indiana League President John McKenzie.

 

Top – from left: Indiana League Chairman Karla Salisbury, KEMBA CU; Sen. Donnelly; Indiana League President John McKenzie posed for this picture at the roundtable.
 
Bottom: Indiana League President John McKenzie makes his statement to the media during the roundtable as Sen. Donnelly looks on.