America’s Credit Unions testifies at field hearing
Jim Nussle
Chief Executive Officer, AMERICA’S CREDIT UNIONS. Our mission is to advocate for and advance an environment where credit unions thrive.
As an industry focused on better financial futures for all, credit unions are inclined to explore new ways to serve members, especially through technological innovation.
America’s Credit Unions' Transition Board Secretary—and Commonwealth Credit Union President/CEO—Karen Harbin testified at a House Financial Services subcommittee field hearing Friday in Lexington, Ky., on how fintech partnerships enhance member service.
The Subcommittee on Financial Institutions and Monetary Policy Chair Rep. Andy Barr, R-Ky. invited Karen to speak at the hearing, and she shared how using an AI vendor helped Commonwealth Credit Union increase its loan approvals while lowering delinquencies, the perfect example of why credit unions need the flexibility to use fintech to better serve members.
She also explained why a strict regulatory stance toward AI could disproportionately harm credit unions and the members they serve. ?
America’s Credit Unions previously participated in the subcommittee’s working group on AI, and we look forward to its forthcoming report.
Thank you to Karen for testifying before the subcommittee—for the second time this year—and sharing why regulations should be focused on increased access to credit unions.
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New advocacy newsletter launched
We’ve launched a newsletter, Your Capitol Connection, from America’s Credit Unions Chief Advocacy Officer Carrie Hunt that features advocacy-focused updates from Washington, D.C., and around the country. This includes an insider’s look at what America’s Credit Unions is doing to advance, empower, and protect credit unions. To subscribe, click this link and select “Your Capitol Connection.”
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