CP Federal is your credit union! As a member, you are an owner and a voice! It's important to stay up to date on important credit union issues that pertain to you and your rights as a credit union member. By staying informed on important issues from regulations and legislations to the credit union movement and financial education, you can be a positive impact on your future and ensure that we remain the best financial service option for you.
A Letter from Chrissy Siders, President/CEO
Credit unions like CP Federal Credit Union are not-for-profit and exist to serve our local communities. We’re being threatened by complicated regulations that were designed for big banks on Wall Street, not member-owned financial cooperatives on Main Street.
Wall Street billionaires and Washington politicians have rigged the system to benefit big national banks. If their excessive regulations continue unchecked, it could put credit unions and community banks out of business. And that will hurt middle-class families.
It doesn’t make sense. Credit unions did not make the risky loans that caused the 2008 financial collapse. So why should CP Federal members like you be forced to keep paying for the reckless conduct of the Wall Street banks?
The high cost of complying with these costly regulations can make it harder for consumers to get loans from their credit union. That hurts our local economy.
The truth is federal regulators could still keep tight controls on the lending practices of big Wall Street banks while taking a different approach with credit unions—trusting us to make sound lending decisions in our communities.
Thanks to consumers speaking out, Members of Congress on both sides of the aisle are stepping up. A bipartisan group of U.S. Senators has introduced Senate Bill 2155, The Economic Growth Effort, to roll back unnecessary regulations on credit unions. You can learn more about the bill here.
We think CP Federal members deserve to know how the current flawed regulations are hurting consumers. That’s why we’re inviting you to visit the Campaign for Common Sense Regulation’s website to learn more about how these issues impact you.
After you’ve learned more, we hope you’ll take action.
Please tell your US Senators and Representative you want them to support SB 2155 for common-sense financial reform. It’s time for Congress to start working together, for us.
Thank you for your consideration,