MCUL Legislative Priorities
We are focused on a set of legislative priorities that guide our advocacy work in Augusta and beyond. These priorities serve as a roadmap for our efforts throughout the year. While not comprehensive, and subject to change as new issues emerge, they reflect our key areas of focus.
Preserving the Credit Union Tax Status
Maintaining the credit union tax exemption remains a top priority. Credit unions’ not-for-profit, member-owned structure allows them to reinvest earnings into better rates, lower fees, and expanded access to financial services. We will continue to push back against any efforts that threaten this long-standing and well-justified tax status.
Advancing Fraud Prevention Efforts
Fraud continues to be one of the fastest-growing threats facing financial institutions and consumers alike. We will support legislation that strengthens fraud prevention tools and enhances information sharing.
Addressing Cannabis Banking Challenges
As Maine’s legal cannabis market continues to mature, credit unions face persistent uncertainty and compliance challenges. We will advocate for state-level solutions that improve clarity, reduce risk, and better align Maine law with federal regulations.
Opposing Predatory Payday Lending
Protecting consumers from high-cost, predatory lending remains a core priority. Credit unions already offer responsible, affordable alternatives, and we will continue advocating for policies that curb exploitative practices while promoting safe, transparent credit options.
