ASI Advocacy Newsletter
Staying connected with credit unions, one issue at a time.
Private Insurance Parity Act Update
Following June’s introduction of the Privately Insured Credit Unions Conversion Modernization Act (S. 4808), also known as the Private Insurance Parity Act in the Senate by Senators Catherine Cortez Masto (D-NV) and Bernie Moreno (R-OH), Congressman Warren Davidson (R-OH) recently introduced the House companion bill, H.R. 9900. Together, these bipartisan bills would put the option of choosing private insurance on equal footing with that of federal insurance. The bipartisan-supported bills would permit a credit union to merge with, or convert to, a privately insured institution when the proposal is approved by a simple majority of its voting members.
As Congress enters the August recess and the legislative calendar becomes increasingly compressed, the window for advancing this legislation during the current Congress is narrowing. While ASI and the bill’s sponsors continue to pursue opportunities to move the legislation forward, support from the credit union system is critical.
We encourage credit unions and state leagues to make the Private Insurance Parity Act a priority topic in your conversations with Members of Congress, particularly during next month’s America’s Credit Unions Congressional Caucus and any congressional meetings or Hill visits. Your engagement can help build awareness, generate additional congressional support, and demonstrate that the credit union system values preserving choice for state-chartered credit unions.
If you would like background information, talking points, sample outreach materials, or have questions about the legislation, please contact Jennifer Kelly at [email protected].
ASI Education Campaign
As part of ASI’s broader advocacy and education strategy, we are officially launching an educational campaign to increase awareness of private share insurance and generate greater interest among credit unions. The campaign will introduce more credit unions to the private insurance option through targeted video ads that drive traffic to a new landing page, where visitors can learn how private share insurance works, its benefits, and the importance of having choice in deposit insurance.
This effort comes at a critical time as policymakers continue to evaluate the future of deposit insurance. By educating credit unions about private share insurance, we can help ensure they understand that a proven alternative already exists while strengthening ASI’s advocacy efforts at the state and federal levels. Increased awareness and support among credit unions will be essential as we work to expand private insurance into additional states, creating new opportunities for greater choice and supporting ASI’s long-term growth.
Our new video ad can be viewed here. Please consider sharing it with your social media followers, credit union peers, and industry contacts to help increase awareness of private share insurance and support greater choice nationwide.
2026 Fraud School
Fraud risk is evolving quickly across the financial services landscape, and credit unions are increasingly navigating more complex threats, from account takeovers and check fraud to deepfakes and payment manipulation.
Don’t miss out on an opportunity to examine the modern threat environment and the institutional controls needed to manage it with credit union leaders, fraud investigators, and regulators!
Register for the 2026 Fraud School, hosted by NASCUS, Critical Ops, and America’s Credit Unions on October 13–14, 2026, at the Ohio Chamber of Commerce in Columbus, Ohio.
ASI Engages with State Leaders
This summer, ASI participated in both the American Legislative Exchange Council (ALEC) Annual Meeting and the National Conference of State Legislatures (NCSL) Legislative Summit, where we met with state legislators, legislative staff, regulators, and our state league partners to discuss private share insurance and opportunities to expand state-chartered credit union choice.
While no model legislation related to private share insurance was introduced at ALEC this year, interchange fees remained a major topic of discussion. ALEC adopted a free-market approach, emphasizing that states should promote competition, transparency, and consumer choice in the payments marketplace rather than imposing government mandates on interchange fees. The organization expressed concern that state efforts to regulate interchange fees could increase costs, reduce consumer benefits such as rewards programs and fraud protection, and create unnecessary complexity in the payments system.
ASI appreciates the opportunity to engage with policymakers at both conferences and looks forward to continuing conversations with states exploring private share insurance as an option for their credit union systems.
State System Summit
ASI was pleased to attend the 2026 National Association of State Credit Union Supervisors (NASCUS) State System Summit, one of the premier gatherings of state regulators, credit union leaders, and state system stakeholders. The Summit provided a unique opportunity to exchange ideas, discuss emerging policy issues, and strengthen collaboration across the state credit union system.
As several states move through the evaluation and implementation process for private share insurance, the Summit served as a timely forum for ASI leadership to engage with influential regulators and stakeholders. The event also provided an important opportunity to reconnect with credit union league partners, reinforce existing relationships, and further align on advocacy priorities.
Progress Across the States
Activity continues across the country as states advance private share insurance through both legislative and regulatory pathways. Minnesota and Tennessee have enacted legislation and are now working through implementation with their state regulators, while Michigan’s legislation awaits Senate consideration this fall. Meanwhile, in Kentucky and New Mexico, ASI has submitted all required materials and continues to work closely with regulators as the review process continues.
Ohio Legislative Update
ASI is continuing to work with Representative Justin Pizzulli, legislative leadership, and key stakeholders to advance H.B. 612, legislation that modernizes Ohio’s statutory framework governing credit union share guaranty corporations. The bill includes several minor technical updates to the guarantee fund’s operations and other provisions to better reflect current practices while preserving Ohio’s strong regulatory framework. Although a planned committee hearing was postponed before the summer recess, discussions continue in both the House and Senate as ASI works to identify opportunities to advance the legislation later this year.
Ohio Senate Race Takes Shape
With the May primaries complete, Democrat Sherrod Brown and Republican Jon Husted are officially set to face off in one of the nation’s most closely watched U.S. Senate races this November. The race is expected to play a key role in determining control of the U.S. Senate.
Brown has built an early fundraising advantage, while outside groups have already committed significant resources to the race, signaling Ohio will remain a major battleground through Election Day. The Cook Political Report currently classifies the race as a Toss Up, indicating that neither candidate holds a clear advantage, reflecting that it will be one of the nation’s most competitive Senate races.
NCUA Board Confirms Crews
Following months of consideration, John Crews was confirmed by the U.S. Senate to serve on the NCUA Board by a 51-47 vote. With former NCUA Chairman Kyle Hauptman having been sworn in as a member of the Public Company Accounting Oversight Board, President Donald Trump is expected to designate Crews as the NCUA’s 14th Chairman, upon swearing in.
Crews joins the NCUA after serving as Deputy Assistant Secretary for Financial Institutions Policy at the U.S. Department of the Treasury. He previously served as a policy advisor to House Majority Leader Steve Scalise, focusing on economic and financial services policy, and as Policy Director for the Senate Banking Committee. ASI has already begun engaging with Crews’ soon-to-be staff to help educate him on the important role private share insurance plays in providing credit unions with greater flexibility and choice in serving their members and intend to meet with him as soon as possible.