LAFCU HOSTS U.S. REP. TIM WALBERG TO DISCUSS CRITICAL ISSUES FACING CREDIT UNIONS AND MEMBERS
Tuesday, March 25, 2014
Posted by: Michelle Rahl
FOR IMMEDIATE RELEASE CONTACT: Jan Jenkins, Publicom
March 24, 2014 517.487.3700; cell 517.898.2858
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LAFCU HOSTS U.S. REP. TIM WALBERG
TO DISCUSS CRITICAL ISSUES FACING CREDIT UNIONS AND MEMBERS
LANSING, Mich. — U.S. Rep. Tim Walberg recently visited LAFCU to meet with LAFCU leadership to discuss at length a myriad of legislative issues that impact credit unions and their members throughout the state.
“We were pleased that Congressman Walberg listened to our concerns,” said Michael Loucks, regional vice president of LAFCU. “He is a strong supporter of credit unions and understands the value we bring to our members, our communities and our state.”
The discussion centered around three key points:
? Reducing legal restrictions placed specifically on credit unions for member business loans
? Reducing the regulatory burden on credit unions
? Improving standards and regulations related to data breaches
? Shared responsibility to make members whole if a data breach occurs that is not the fault of the credit union
? As a consumer protection measure, credit unions replace member debit/credit cards if a data breach occurs. Merchants are currently not required to reimburse credit unions for the cost of card
re-issuance after a data breach they cause.
? To avoid data breaches, merchants should be held to the same data security standards as credit unions and financial institutions.
LAFCU also acknowledged Walberg’s support of the credit union tax exemption. The visit concluded with a tour of LAFCU’s call center, reception/lobby and teller/drive-up areas.
Chartered in 1936, LAFCU is proud to be mid-Michigan’s credit union, serving the counties of Barry, Calhoun, Clinton, Eaton, Gratiot, Ingham, Ionia, Jackson, Livingston, Montcalm and Shiawassee. A recipient of the Dora Maxwell Social Responsibility Award, LAFCU takes pride in bringing value to the financial lives of its members, neighbors, families and community. Offering a comprehensive range of personal and business financial products, LAFCU provides services that include checking and savings accounts, auto and mortgage lending, business accounts and business lending. LAFCU serves 55,000 members, holds more than $560 million in assets, and maintains eight locations throughout Greater Lansing and Shiawassee County. Anyone who lives, works, worships or attends school in its designated counties is eligible to join. Members enjoy benefits, such as lower interest rates on loans, higher yields on savings, insurance discounts, preferred seating for LAFCU-sponsored events, and access to 28,000 surcharge-free ATMs through the CO-OP ATM network. LAFCU supports and enriches mid-Michigan by donating funds and employee volunteer hours to many organizations and causes. To learn more about LAFCU’s services, visit www.lafcu.com or call 517.622.6600.
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