There’s something uniquely powerful about cooperative finance.

This model isn’t defined by competition, but by collaboration. I’ve seen it time and again: when we gather, when we share, when we listen, magic happens.

As someone who’s spent years in credit union advocacy and leadership, I’ve come to believe that the strength of our movement lies not just in our institutions, but in our relationships. When we come together without invisible fences, we create space for real connection and real progress.

Credit unions are more than financial institutions. You are facilitators of economic freedom, stewards of financial prosperity, and defenders of a model that puts people before profit. But we are also a family. And like any family, we must be intentional about

staying connected and having difficult conversations, especially in times of uncertainty.

Although I have just two weeks under my belt at America’s Credit Unions, I’ve met with credit unions large and small and in between. What each of these institutions have in common is their mission. As community-based institutions, each credit union is a reflection  of their membership. What services and programs you offer, what initiatives you support, how you operate are determined by your member-owners.

What has become increasingly worrisome to me is the constant, one-note piano refrain from credit union antagonists that, somehow, growth alone represents a departure from the founding credit union philosophy. On its face, the argument is silly.

There’s no debate for me. Credit unions, as cooperatives devoted to improving their members’ lives, are always credit unions. Because at no point does the mission stop being the north star. And for that reason, there shouldn’t be a debate at all.

Federal tax reform efforts earlier this year brought this argument to the halls of Congress. While the credit union movement united to make clear what the tax status allows your institutions to accomplish for people and communities, the stitches of that fight are still fresh.

The threat was real, where members of Congress actively considered revoking our status. While bankers have long claimed that credit unions’ tax status creates an unfair advantage, they pivoted their attack this year to focus on large credit unions. They argued  that credit unions stop being credit unions once they reach a certain asset size.

Story continued below…

We prevailed. Because we, the entire industry, united to prove that’s not the case. Two of our nation’s credit unions—one of the largest and one of the smallest—loudly spoke out:

“Size isn’t the measure of a credit union, large or small. The exemplary service of these not-for-profit financial cooperatives is what sets them apart, and that hasn’t changed.”

We have the proof points to prove it. Banks have shuttered over 20,000 branches since 2012 and are responsible for 92% of new banking deserts. Meanwhile, credit unions have opened over 500 branches over that time, most of which are in rural areas.

Amid the longest government shutdown in history, credit unions across the country did what they always do to support their impacted members: Identified solutions to help them overcome financial uncertainty and keep them financially viable until the situation stabilized. It wasn’t just a certain asset size of credit unions that took on added financial pressure to throw out every lifeline available. It was credit unions of all sizes.

Credit unions’ mission not only enables them to offer this kind of assistance, but it is the reason for their existence. Attacks against our industry will continue. We must remain vigilant. Our existence is not guaranteed; it is permitted. And permission can be revoked.

That’s why advocacy isn’t optional. It’s essential. And it’s why we need every voice, from the smallest to the largest, to help us see what they see, feel what they feel, and understand what they face. The cooperative spirit of the credit union movement grounds and guides us.

In my more than 20 years in cooperative finance, I’ve heard tough questions, seen bold leadership, and felt the urgency of our shared mission. I’ve also felt the fragility of our unity. If we’re not careful, partners can become competitors. That’s why convening matters. That’s why listening matters.

To my colleagues in the credit union movement: thank you. Thank you for showing up, for speaking up, and for standing together. The work ahead is hard, but it’s worth it. Because when the credit union family is united, we are unstoppable.

Let’s keep gathering. Let’s keep sharing. Let’s keep defending what we believe in. Together.