A New Congress. A Stronger Voice for First Responder Credit Unions.

 

Dear Colleagues,

A New Congress. A Continued Mission. A Stronger Voice for First Responder Credit Unions.

As the nation moves forward following the elections, the National Council of First Responder Credit Unions (NCOFCU) remains committed to protecting and advancing the interests of credit unions serving America's firefighters, law enforcement officers, emergency medical personnel, dispatchers, corrections officers, and other first responders.

The election brings changes in congressional leadership, committee assignments, regulatory oversight, and legislative priorities. While the political landscape may change, our mission remains the same: protect the credit union movement, strengthen our institutions, and preserve their ability to serve the financial needs of their members.

Our advocacy priorities remain clear:

• Protect the credit union tax exemption and preserve the cooperative, not-for-profit structure that distinguishes credit unions.

• Preserve the survival and independence of smaller credit unions, particularly those serving first responders. Rising regulatory costs, technology expenses, and increasing operational demands threaten the future of many smaller institutions. We must advocate for proportionate regulation, affordable access to essential services, and policies that allow these credit unions to remain financially sound, competitive, and independent.

• Oppose harmful interchange legislation that could reduce revenue, increase costs, and limit services to members.

• Expand responsible lending opportunities that help credit unions meet the evolving financial needs of their communities.

• Strengthen liquidity and financial stability, particularly for smaller credit unions facing increasing operational and regulatory pressures.

• Promote practical regulatory reform that reduces unnecessary burdens while maintaining safety, soundness, and effective oversight.

The Future of Smaller Credit Unions Must Be a National Priority

NCOFCU believes the continued existence of smaller credit unions is essential to the strength and diversity of the entire credit union movement.

Many first responder credit unions were founded by firefighters, police officers, and other public servants who wanted a financial institution that understood their profession, their families, and their communities. These institutions were built on personal relationships, volunteer leadership, and a commitment to service rather than profit.

Today, too many of these credit unions face growing pressure to merge, not necessarily because they have failed their members, but because the cost and complexity of operating independently continue to increase.

Consolidation should be a strategic choice, not an unavoidable consequence of regulatory and operating costs.

The loss of smaller credit unions affects more than their members. It weakens the diversity, community relationships, and grassroots advocacy that have historically distinguished the credit union movement.

We must also recognize that larger credit unions have a stake in preserving smaller institutions. When we advocate before Congress for the credit union tax exemption and our cooperative mission, the continued presence of smaller, community-focused credit unions strengthens our case.

NCOFCU will continue advocating for policies that give smaller credit unions a reasonable opportunity to survive, grow, and remain independent while maintaining appropriate safety and soundness standards.

Working Together for a Stronger Credit Union Movement

NCOFCU recognizes that our strength comes from working together. We will continue collaborating with fellow credit union trade associations, congressional leaders, regulators, and state organizations to advance policies that benefit credit unions of every size.

Our first responder credit unions bring an important perspective to these discussions. The men and women who protect our communities deserve access to strong, locally focused financial institutions that understand their unique needs.

As newly elected members of Congress prepare to take office and returning lawmakers establish their priorities, we have an opportunity to strengthen relationships, educate policymakers, and demonstrate the value of credit unions.

We encourage our member credit unions, their directors, and management teams to become actively involved in advocacy. Your relationships with elected officials and your firsthand knowledge of the communities you serve are essential to making our collective voice heard.

We must also remain vigilant at the state level, where legislative and regulatory decisions can significantly affect credit union operations.

NCOFCU's message is simple: Regardless of who controls Congress, protecting the credit union tax exemption, reducing unnecessary regulatory burdens, and preserving the future of smaller credit unions must remain bipartisan priorities.

We look forward to working with our members and advocacy partners to turn this period of transition into meaningful progress.

Together, we can ensure that credit unions serving America's first responders, large and small, continue to thrive for generations to come.

Sincerely,

Grant Sheehan
Founder & CEO
National Council of Firefighter Credit Unions, Inc.
Doing Business As: National Council of First Responder Credit Unions
www.ncofcu.org