Advocacy Events

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Massachusetts Credit Union Day - Nov. 1, 2017

Agenda- 2017 Massachusetts Credit Union Day

2017 - 2018 Legislative Leadership

2017 Joint Committee on Way & Means

2017 Joint Committee on Financial Services

2017 Joint Committee on Revenue

2017 MA Credit Union Recodification - Talking Points

2017 MA Public Funds - Talking Points

2017 Priority State Legislative Testimony

Senate 587 and House 2966, Acts Modernizing the Credit Union Laws. A modernization/recodification of recodification of the Commonwealth’s credit union laws.

Association Testimony

Credit Union Testimony

Arrha Credit Union- Modernization Testimony

Boston Firefighters Credit Union- Modernization Testimony

Metro Credit Union- Modernization Testimony

An Act Modernizing Credit Union Laws - Key Changes

An Act Modernizing Credit Union Laws - Section-by-Section Summary

An Act Modernizing Credit Union Laws- One Page Summary


Senate 577, House 2956, Acts Relative to Public Funds. Authorizes state and municipal officials and agencies to deposit funds and credit unions to accept such public funds subject to a statutory limit.

Association Testimony

Credit Union Testimony

Freedom Credit Union- Public Funds Testimony

Homefield Credit Union- Public Funds Testimony

Liberty Bay Credit Union- Public Funds Testimony

Sample Public Official Support Letter


House 1123, An Act to Allow Municipalities to Invest in Credit Unions, sponsored by Representative Jonathan Zlotnik (Gardner). The proposed legislation is a priority bill that allows municipal and state agencies to deposit money in state chartered and federally chartered credit unions. The proposal also amends Chapter 171 of the General Laws to allow state chartered and federal credit unions to accept public funds from such municipal and state agencies, provided that the total of such public funds received not exceed twenty-five percent of the assets of the state or federal credit union.


2017 Association State Legislative Testimony

2017 - 2018 Summary of Association Legislative Proposals - 10/05/2017

Senate 841/House 956, An Act Preventing Unnecessary Vacancies in Foreclosed Homes, and House 902, An Act Relative to Foreclosed Homes in Neighborhoods. The thrust of these bills are to grant additional rights and time to consumers, who may or may not be credit union members, including the right to remain in possession after a foreclosure sale. The measures are broad in reach and do not take into consideration conflicting statutory authority or cost. 

Senate 763/2349, An Act to Amend the Foreclosure Statute to Require Judicial Foreclosure, and Senate 903/House3059, An Act Establishing a Foreclosure Review Division of the Superior Court. The Association is of the position that mandatory judicial review will significantly lengthen the timeframe and costs of the foreclosure process for credit unions and other responsive, local lenders. A foreclosure review division increases costs and further delays an already backlogged judicial system, and that utilizing taxpayer money to create a fully separate division with additional staff is unnecessary.

Other bills before the Judiciary Committee on which the Association commented include Senate 859, An Act Regarding the Right of First Refusal in the Event of a Foreclosure and Short Sales and Deeds in Lieu, House 944, An Act Providing Remedies to Consumers for Clearing Title After Payoff of Mortgages, House 2336, An Act to Require Timely Recourse to Deficiency Judgments after Foreclosure, and House 3041, An Act to Require Property Owners to Bear the Cost of Relocation Assistance.

House 1982, An Act Relative to Debt Collection Licensure. The thrust of the bill is to adopt a licensing mechanism for debt collectors operating in the Commonwealth. As such, credit union support was limited to Section 2, which recognizes the role of credit unions and their preexisting oversight in this area.

Senate 123, An Act Protecting Consumers from Unsolicited Loans. While credit unions support the idea of protecting consumers from unscrupulous lenders, credit union support was limited to the portions of the bill impacting credit unions in subsection 2 of Section 1. Testimony noted concern with other sections of the measure which fail to acknowledge the nature of the check cashing process and information available to credit unions.

Senate 576, An Act Relative to Credit and Debit Cards. A refiled measure, the interchange bill would directly impact both card processors as well as Massachusetts credit unions and their members. As the bill attempts to alter the relationship between merchants and card issuers, including credit unions, by giving the merchants additional rights and remedies against credit unions, including small credit unions, it is opposed.

Senate 116, An Act Protecting The Privacy Of Consumer Financial Information. As this bill would impose new and additional requirements on credit unions, which are subject to the regulations passed by the CFPB under Gramm-Leach-Bliley and which go to every effort to fully comply with the requirements of annual privacy notices, the Association is of the position that the privacy and protection of consumers’ financial information is appropriately addressed under the GLBA. 

House 480, An Act Providing Mortgage Customers Additional Mandatory Information Regarding their Accounts, House 514, An Act to Provide for the Mass Emergency Homeowner Assistance Program, House 2196, An Act Relative to Real Estate Disclosure Forms, House 569, An Act to Prohibit the Issuance of Mortgages to Persons Convicted of Arson, House 533, An Act Relative to Community Reinvestment Goals for Banks, and House 520, An Act Relative to Beneficiary Designation on Certain Bank Accounts. 

House 564, An Act Enhancing Fair Competition Among Financial Institutions

Senate 500 and House 550, An Act to Facilitate Alternatives to Foreclosure and Senate 590, An Act Relative to Vacated Foreclosed Residential Property


Other Resources

Massachusetts Member Benefits & Taxes

Massachusetts Market Share & Size

Massachusetts State Credit Union Summary

Massachusetts Business Lending