Jefferson Reporter

U.S. Senator Katie Britt has aligned with her colleagues on a piece of bipartisan legislation aimed at reforming regulations impacting credit union boards. Alongside Senators Bill Hagerty and Lisa Blunt Rochester, Senator Britt is advocating for the Credit Union Board Modernization Act to eliminate the requirement for monthly in-person meetings for credit union boards. This legislative move acknowledges advances in technology that enable more efficient communication.

Senator Britt expressed, “I’m grateful for this legislation that would address an outdated and hindering regulation imposed on our local credit unions." She highlighted the significance of credit unions in supporting Alabama's Main Street communities and the potential this bill has in removing unnecessary regulatory obstacles.

Senator Hagerty, a fellow proponent, stated, “Credit unions should be allowed to spend less time in unnecessary board meetings and more time serving their members,” suggesting the legislation would let credit unions concentrate on their principal duty of delivering financial services.

Senator Blunt Rochester remarked, “It is far past time that the arcane requirements for credit unions are removed,” underscoring the bill's role in lifting barriers and enhancing credit unions' operational capabilities, especially in small and rural settings in Delaware.

Previously, in the 118th Congress, Senator Britt co-sponsored this bipartisan legislative proposal. In 2023, she was recognized as the League of Southeastern Credit Unions’ Federal Lawmaker of the Year for Alabama. On receiving the accolade, Senator Britt said, “I am proud to partner with our state’s local financial institutions to ensure that every hardworking Alabamian, regardless of zip code, has the opportunity to achieve their American Dream.”

In her role on the Senate Banking Committee, Senator Britt continues to back community banks and credit unions in Alabama, advocating for their role in providing access to credit and supporting local communities.

“I also just want to point out... just how grateful I am for our community, banks, and credit unions in Alabama that serve our local communities,” Senator Britt stated.