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Kansas Credit Union Association urges support amid consolidation and compliance burden
Summary
Emily Beam of the Kansas Credit Union Association told the committee the league represents 60 Kansas‑headquartered credit unions and that consolidation, regulatory costs and staffing shortages are shrinking the number of charters.
Emily Beam, representing the Kansas Credit Union Association, briefed the Committee on Financial Institutions and Pensions on industry trends, services the association provides and how consolidation and compliance have affected Kansas credit unions.
Beam said the association represents 60 credit unions headquartered in Kansas and roughly 1.2 million Kansans who are credit union members. She described the association as part of a five‑state league serving Kansas, Missouri, Oklahoma, Texas and Arkansas and said the merger of state leagues in 2023 expanded services available to member credit unions.
Beam listed services provided by the association, including compliance support, asset‑specific advisory groups, research and benchmarking, training and peer engagement programs. She highlighted the cooperative nature of credit unions: volunteer boards, member ownership and distribution of earnings to members in the form of higher savings yields or lower loan costs. “Last year, Kansas Credit Unions returned over $100,000,000 to their members,” Beam said.
The association provided several data points on lending and member assistance in 2024: more than 90,000 loans to Kansans with credit scores of 640 or below; about 38,000 small‑dollar loans; financial counseling and literacy outreach to more than 64,000 Kansans and K–12 students; over 51,000 skip‑a‑pay or loan deferments; and about 570,000 auto loans originated.
Beam and the committee discussed consolidation: the number of Kansas charters fell from 122 in 2005 to 66 at the time of testimony. Beam cited compliance costs and staffing shortages — including turnover in small, rural institutions — as drivers of mergers and closures of charters.
Beam closed by thanking the legislature for passing HB 2561, the Credit Union Modernization Act, last session and said the association looks forward to continued work with the committee to preserve access to affordable financial services across Kansas.
