Florida Banking April 2022

GOVERNMENT RELATIONS

WHY YOU ARE IMPORTANT

BY ANTHONY DIMARCO, FBA EXECUTIVE VICE PRESIDENT AND DIRECTOR OF GOVERNMENT AFFAIRS

A s we end the 2022 Session, I am reminded how FBA leaders and staff have told or written you about why you are important to the FBA’s success. Simply put, we could not succeed without your involvement and help. I am more convinced than ever about this fact after every Session. The best example of this is our ongoing fight with the credit unions over public deposits. Since 2009, the credit unions have filed their public deposits bill almost annually; it is either not heard, or passes one subcommittee and then dies. Prior to this Session,

issue. The League annually receives and donates more campaign dollars than we do. This Session was no different. The bills were filed in the House and Senate. House Bill 1559 was given a hearing and passed by the House Insurance & Banking Subcommittee. We were able to stop the bill from being heard again in the House or ever in the Senate. We expect this bill to be a much harder fight next Session and we need YOU to defeat this legislation. You — our members — must contribute, attend our lunches and dinners, attend Capitol Day and

the public deposits bill had not been scheduled for a hearing since 2017. It is the credit unions’ top priority. They have hired two of the best lobbying firms in town and VyStar has hired inhouse lobbyists to pass the bill. They also contribute a great deal of money to various state campaigns during the elections. The League of

the Washington trip, and answer Calls to Action. Your participation is much more than the tip of the spear to stop or pass legislation; it is the main ingredient. Let’s break it down more. When you give to our state BankPac, you enable us to support legislators who will support our issues. However, we must do

“YOUR PARTICIPATION IS MUCH MORE THAN THE TIP OF THE SPEAR TO STOP OR PASS LEGISLATION; IT IS THE MAIN INGREDIENT.”

Southeastern Credit Unions (League) has raised more than $575,000 through January 31, 2022. That’s right, more than half a million dollars. Most of these funds have come from large, multi-billion dollar credit unions, including: VyStar - $115,000; MidFlorida - $32,000; Spacecoast - $42,000; First Commerce - $24,000; and the biggest amount is from SunCoast - $127,000. Even the League is giving to its own PAC - $175,000. That is a great deal of money for mom and pop credit unions to contribute to its PAC. This is not a one election

better and give more. The credit unions have outraised us by more than two-to-one in state campaign contributions to date. This enables them to out-contribute us too. We cannot continue to be outspent like this — it is a dead-end policy for us. Trust me, I have seen industries lose because one side clearly outspent another in one election cycle. Second in our favor is our members’ work with legislators back home. Many legislators heard individually from his or her banker from home. Your calls are important. I know that in a prior Session,

12 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING