Association Confirms Delaware Credit Unions Eligible to Accept Public Funds Following Series of Meetings with Elected Officials

The MD|DC Credit Union Association, following a series of meetings with Governor Matt Meyer, Secretary of State Charuni Patibanda-Sanchez, and State Treasurer Colleen Davis, has confirmed that Delaware credit unions are eligible to hold and accept public funds, provided the credit unions meet the requirements outlined in the state's Request for Proposal (RFP) process.

On Tuesday, the Association's Advocacy Team, along with Del-One FCU CEO Dan McCarthy and DEXSTA FCU Business Development and Relationship Manager, Joseph Buscemi, and Vice President of Finance, Mary Brien-Duch met with Treasurer Davis to discuss this key issue. Treasurer Davis affirmed that credit unions can participate in holding public funds and expressed encouragement at their interest in engaging in the process.

"Credit unions are deeply rooted in our communities, and opening the door for them to manage public funds reflects the trust we place in them," said Delaware State Treasurer Colleen Davis. "Creating this opportunity furthers our mission of fostering financial well-being across our state."

The Association will be coordinating with the Treasurer's Office to ensure credit unions interested in participating are included in the process and that future RFP's are drafted in a manner that meets the unique needs and standards specific to the credit union industry.

"This is a significant step forward for Delaware credit unions," said John Bratsakis, President and CEO, MD|DC Credit Union Association. "Allowing credit unions to accept public funds enhances opportunities to serve our communities, strengthens local financial institutions, and increases choice in how public monies are managed."