#3438: GoWest's Stang Advocates for Credit Unions at Colorado's State Capitol...

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GoWest Credit Union Association President/CEO Troy Stang joined us on the show during his monthlong GoWest roadshow, visiting each of the association's state capitols to advocate for credit unions in force. This time he has his sights set on Denver, CO, where he and more than 100 credit union advocates will meet with the state's legislators for Colorado's Day at the Capitol.

Specifically, Troy talked about local advocacy efforts, key legislative issues for credit unions in Colorado, and the need for ongoing relationships with state's legislators. One of the big talking points he and his more-than-100-strong team plan to share are economic impact reports, showcasing how credit unions contribute to job creation and foster community trust.

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Q&A summary
What is the significance of Colorado Day at the Capitol for credit unions?
Colorado Day at the Capitol is crucial for credit unions as it provides a platform for advocates to engage with legislators, discuss key issues, and promote the cooperative model of credit unions.

What are some key legislative issues currently facing credit unions in Colorado?
One significant issue is that Colorado is one of the few states where banks cannot sell their portfolios to credit unions, which raises questions about market opportunities and community needs.

What impact does the presence of credit union leaders have during advocacy events?
The presence of credit union leaders at advocacy events is impactful as it draws attention from elected officials, demonstrating the importance of credit unions in their communities.

What are the expected outcomes of the upcoming advocacy efforts in Washington DC?
The advocacy efforts in Washington DC aim to modernize the credit union charter and ensure that the tax treatment of credit unions as not-for-profit cooperatives is recognized.

What new economic data will be presented at the Capitol, and why is it important?
New economic data highlighting the employment and community impact of credit unions will be presented, showcasing their role as trusted financial institutions and their contributions to local economies.

How do credit unions address consumer protection and fraud concerns?
Credit unions have historically focused on consumer protection and have been proactive in addressing fraud, which resonates with elected officials when they understand the cooperative model.

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Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.