A Word From CBA’s Chairman By Mark Hall, SVP, Sr. Community Bank Division Leader, Vectra Bank, 2022-2023 CBA Chairman The Value of Feature Colorado Bankers Association focuses on the needs and goals of its members, resulting in high membership satisfaction. Another benefit is the team at CBA produces exceptional results on behalf of its membership. There is a sustaining value to the CBA membership. Colorado Bankers Association advocates for economic opportunities for the financial services industry through a sound and competitive banking environment by advocating supportive public policy and enhancing banking skills, image, and unity. In our current political environment of one-party rule, it is challenging to defeat legislation that stifles business and hampers economic development. The CBA staff understands the political realities of collaborating with business coalitions to reach compromises for the best outcome possible. When others are ready to throw in the towel and agree, CBA remains on the front line advocating for the membership. Your CBA membership protects your business interests and saves you money. CBA provides legislative and regulatory advocacy at the state and national levels. Jen Waller’s successes through the years, in Colorado and nationally, are well known. Today, the government relations team, directed by Ms. Waller, is well respected, and their successes continue in her footsteps. This last year, CBA successfully defeated legislation to authorize a credit union to accept public deposits. If banks were forced to compete with credit unions, not only are the state funds less protected, but the cost of funds would be increased. Defeating this bill continues the protection of tax dollars and ensures bank competition for tax deposits is fair. This is the third time in 20 years the CBA thwarted efforts by credit unions to gain a greater foothold in Colorado’s financial interests. This distinguished record of stopping the expansion of credit unions is unique among state associations. At the same time, the CBA team blocked the credit unions’ efforts to introduce legislation to buy a bank. Banks stand little chance of outbidding a credit union when wanting to acquire another bank. Credit unions use their subsidy (tax exemption) to offer a higher price than banks can afford. Blocking this measure ensures banks are not competing with tax-exempt entities when wanting to acquire another bank. This is an incalculable value of membership. Membership www.coloradobankers.org 2
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