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September 4, 2012
As part of an ongoing schedule of interviews to determine credit union support in the November elections, Washington Republican gubernatorial candidate Rob McKenna met with the Northwest Credit Union Association (NWCUA) Washington Governmental Affairs Committee on Aug. 30 to reiterate his ongoing support of credit unions and ask for their support.
McKenna touched on a variety of topics with the group of roughly two-dozen credit union advocates, including his vision on regulation. If victorious, McKenna said he was looking to refresh state government with new people and new ideas, including people from the private sector who have broad experience and know what it’s like to be regulated.
He said that he plans to pull together stakeholder groups after the election to discuss cabinet-level positions, looking for customer feedback. McKenna reiterated that his position is not to regulate just for the sake of regulating, but to regulate when there are problems.
McKenna indicated his support of the Washington State chartered credit union B&O tax exemption, subject to periodic review by the Joint Legislative Audit & Review Committee (JLARC). The JLARC reviewed the credit union tax exemption in 2011 and recommended its continuation.
McKenna also said he will work hard to resist the sweeping of funds out of dedicated accounts, as has happened to credit unions over the past several years with reserves swept from the industry-funded Financial Services Regulation Fund into the state’s general fund. He also expressed concern over what he described as a lack of economic literacy for teens and young adults.
Candidate interviews continue this week. Interested credit unions are encouraged to send a representative. Please RSVP to Christine Duncan at email@example.com. Interviews will take place in the NWCUA Training Room, located at 33301 9th Avenue South, Suite 200, in Federal Way, Wash.
Questions? Contact a member of the Association’s Legislative Affairs team:
Posted on 09/04/2012View All Articles
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