Hello Fellow NCUCA Colleagues and Friends,
Congratulations! We have successfully defeated Assembly Bill 2501! However, it may be granted reconsideration later this year. This was one of the biggest and most devastating credit and collections bills presented in decades. By leveraging and promoting the California League’s advocacy efforts through the powerful NCUCA network we reached out to our NCUCA network of colleagues and business partners. The NCUCA helped the industry gain an additional ~6K messages by request of Diana Dykstra in a short period of time to give enough opposition to the bill to just barely avoid this credit and collections killer. To sum it up, blanket extended moratoriums would have flooded credit unions with waived interest and fees requirements, years of foreclosure and repossession moratoriums. Ultimately, jobs would have been lost with widespread collections and lending impacts in many industries.
While we worked closely with the CA league’s President, Diana Dykstra, after speaking with her concerns about this bill’s likelihood of passing and how short we were on the needed 10K messages on June 8th, just days prior to this critical vote we lifted the messages needed and confidently assured Diana that the NCUCA can help promote the cause as seen in our press release below. We strategically leveraged our NCUCA nationwide footprint, ultimately encouraging vendors and credit unions particularly in California, to utilize Connect for a Cause via our press release below to reach 10,400 messages. We received over 3K views of our LinkedIn posts as well. Diana Dykstra, the NCUCA, and all of our members in our nationwide base, did a fabulous job in keeping up the pressure on Assembly Members regarding the devastating effects AB2501 would have on credit unions. As a partner of the CA/NV Leagues, the NCUCA guaranteed we could get the needed messages and awareness out in the industry to eventually reach a total of 10,400 messages to Assembly Members. While working with NAFCU’s President, Dan Berger, he also expressed concern on a federal level had this bill passed. Diana thanked me for all of our organization’s support in spreading the word on the league’s legislative outreach.
The bill initially received 35 “yes” votes, which is six votes shy of the 41 needed to advance to the Senate.
Diana Dykstra’s thankful comments help further support the importance of all of you in our national footprint, helping leverage networking, best practices, and communication – all in alignment with NCUCA’s mission statement. This is gratifying to see especially knowing she’s been one of our Keynote Speakers and official industry partner with the NCUCA. She is intimately familiar with all of your hard-working collections and lending professionals attending our conferences and greeted many of you last year at our registration desk before her talk. Diana’s humbling comments to the NCUCA : “Against the odds and our expectations we are so very excited to have defeated this bill. I truly appreciate all that you did to amplify the messaging to our network. It took a village to make this happen and now on to the Senate which we are hoping will be much more reasonable – stay tuned!”
Kudos to the League’s “all hands on deck approach” and vigilance by networking with their partners and credit union members.
The NCUCA’s 6th Annual Conference will be taking place at the Bellagio Las Vegas. The Bellagio has a 7-point, high tech distancing safety protocols, significantly more advanced than any resort, which will be published soon on our website and released to all credit unions.
With everything happening in our industry, this is the most anticipated conference we’re having right before the Presidential election. All speakers confirmed and room blocks confirmed. Please visit www.ncuca.com for more information.
President, National Credit Union Collections Alliance