Credit Unions Take Message of Affordability and Fraud Prevention to Capitol Hill

Posted by Ryan Fitzgerald on March 5, 2026

The halls of Congress were filled with credit union advocates on Wednesday over 400 leaders took to Capitol Hill during the National Governmental Affairs Conference (GAC) in Washington, D.C.

Representing the GoWest region, credit union professionals and board members spent the day meeting with lawmakers and their staff, sharing stories from their communities and reinforcing a clear message: credit unions are a trusted solution on affordability and protecting millions of their constituents from financial fraud.

The Credit Union Difference

Throughout their meetings, advocates highlighted the unique structure that defines credit unions and drives their mission.

Credit unions are not-for-profit financial cooperatives owned by their members, meaning decisions are made to benefit the people they serve rather than outside shareholders. The model continues to deliver meaningful impact for communities across the GoWest region, helping working families, small businesses, and rural communities with access to affordable financial tools and building long-term financial stability.

Advocates also emphasized that the federal tax status for credit unions recognizes this cooperative structure. Because credit unions are member-owned and not-for-profit, earnings stay within local communities rather than being distributed to investors — strengthening competition, consumer choice, and financial access.

A Trusted Solution for Affordability

As lawmakers continue to focus on economic pressures facing American families, credit union leaders shared how their institutions were created as the original marketplace solution for affordable financial services. Credit unions are consistently helping members navigate rising costs and tailoring programs and services to ensure affordable solutions are available.

Advocates encouraged Congress to include credit unions in policy discussions related to housing affordability, financial services access, and consumer protection, noting that credit unions work directly with members facing these challenges every day.

Addressing the Growing Threat of Fraud

Another key topic during meetings was the rapid growth of financial scams and fraud targeting consumers. Federal data shows Americans lost approximately $12.5 billion to fraud in 2024, making it one of the fastest-growing threats to financial security.

Credit union leaders urged lawmakers to support the Taskforce for Recognizing and Averting Payment Scams (TRAPS) Act, which would create a collaborative task force bringing together industry leaders, law enforcement, and regulators to better understand emerging scams and develop coordinated solutions.

Credit unions are often on the front lines helping members detect suspicious activity, stop fraudulent transactions, and recover from scams — making their perspective valuable as policymakers explore solutions.

Other Key Priorities

Advocates also discussed priorities aimed at protecting access to affordable credit and modernizing outdated financial statues and regulations. Leaders also provided targeted messaging to specific lawmakers urging them to oppose the Credit Card Competition Act and interest rate caps on credit cards that could weaken payment security and limit credit availability for consumers.

Advocates also emphasized the need to update the Federal Credit Union Act to reflect today’s financial services landscape. They encouraged support for bipartisan proposals such as the Federal Home Loan Bank – Community Financial Institution (CFI) definition update legislation, known as the MORE Opportunities for Homeownership Act. Additional priorities, included the Credit Union Board Modernization Act, the Veterans Member Business Loan Act, the Financial Reporting Threshold Modernization Act, and the Expanding Access to Lending Options Act, which would increase loan maturity limits for federal credit unions to ensure credit unions can continue to offer affordable loan products to farmers, students, and second home buyers.

Advocacy in Action

By sharing real-world stories, highlighting the cooperative difference, and building on our relationships with policymakers, GoWest advocates helped ensure that the voices of credit unions — and the millions of members they serve — remain part of the national policy conversation. The messaging and willingness to collaborate with Congress to find solutions that benefit the 12.5 million credit union members that GoWest credit unions serve was a breath of fresh air for Members of Congress, and co-sponsorships and follow-up actions are already beginning to percolate.