Updates on shutdown, latest in NCUA lawsuit

Government Shutdown

• Credit unions: a safety net when Americans face financial hardship
  • Blog post showcasing Members 1st Federal Credit Union actions to provide relief to affected families:
    • Members 1st Federal Credit Union supporting members through a crisis is core to who they are.
      • Members 1st Federal Credit Union President/CEO Michael Wilson: “A shutdown can cause an immediate disruption in income for individuals and families connected to the federal government, which can create a lot of stress very quickly,” Wilson explained. “We are here to help our impacted members who may need relief right away, and that is why we have prepared programs in advance, so we are ready to step in and provide the support they need.”
    • Providing relief with flexibility for members:
      • Members 1st Federal Credit Union Erin Hermany, SVP of consumer lending operations: “For some, skipping a loan payment will provide quick relief. Others may need a personal loan with deferred payments to cover essentials until their paycheck resumes,” Hermany said. “And for many, the free one-on-one financial counseling through our partner GreenPath is incredibly valuable. What we are prioritizing most is giving members options and helping them figure out the right solution for them.”
• America’s Credit Unions shutdown resources page

Harper/Otsuka seek SCOTUS review of challenge to dismissal

• Dismissed NCUA board members Todd Harper and Tanya Otsuka have filed a petition with the U.S. Supreme Court requesting it grant certiorari before judgment in the case and to consider the case alongside Trump v. Slaughter.
  • The Supreme Court last week indicated it would review Slaughter (a challenge filed by dismissed Federal Trade Commission Commissioner Rebecca Slaughter) during its December argument session.  
• Oral arguments in Harper v. Bessent were originally scheduled for Nov. 21, but the D.C. Circuit Court of Appeals suspended them pending the Supreme Court review of Slaughter.  
• Harper and Otsuka also seek expedited consideration, claiming the D.C. Court of Appeals-imposed stay keeping them off the board is preventing them from carrying out their statutorily mandated duties, including the March 2026 expiration of the NCUA’s 18% federal credit union interest rate ceiling.
  • The board must re-approve any rate above 15% every 18 months, the 18% ceiling has been in place since May 1987, and was re-approved most recently in July 2024.  
• America's Credit Unions supports a strong, independent NCUA with a full three-member board. 

Patty Corkery alerts Michiganders of risk of interchange law

• In an op-ed for The Detroit News, President and CEO of Michigan Credit Union League Patty Corkery explained the potential impacts of interchange as conversations increase around interchange legislation.
  • “Think of every grocery run, every gas purchase, every online order. Interchange is what ensures those payments can be processed instantly, securely and in ways that protect both consumers and merchants when fraud occurs,” Corkery wrote, adding “without it, the very services that make card payments safe and convenient would be at risk.” 
  • “Michigan families deserve better. We need policies that protect consumers, support small businesses and strengthen local financial institutions,” she wrote. “Gutting interchange does the opposite. It weakens payment security, undermines community lenders and shifts the costs of security and data protection onto families and small businesses that can least afford them.”