Credit unions serve those left behind by banks
Jim Nussle
Chief Executive Officer, AMERICA’S CREDIT UNIONS. Our mission is to advocate for and advance an environment where credit unions thrive.
African-American Credit Union Coalition President/CEO Renée Sattiewhite and I partnered to set the record straight against recent bank attacks: Credit unions will never apologize for putting people over profit.
Calls for expanding the Community Reinvestment Act (CRA) miss the point that the CRA was created to stop banks from redlining and other discriminatory practices, while credit unions have a demonstrated legacy of serving those banks leave behind.
The real data shows credit unions are more likely to support financial opportunity in minority communities than banks. Credit unions offer a larger share of mortgage loans to black, Hispanic, low-income, and moderate-income borrowers than banks, especially community banks.
Credit unions are focused on communities and delivered $25 billion in benefits in 2022 alone.
Congress needs to be focused on removing these barriers keeping safe and affordable credit union services from those who need them most.
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Discussing priorities with NCUA Chairman Harper
America’s Credit Unions advocacy staff joined me Thursday for a meeting with NCUA Chairman Todd Harper. We discussed a variety of priorities for credit unions, including the overly broad use of “junk fees,” field of membership expansion, increased flexibility for credit union investments, and credit unions’ participation in the Greenhouse Gas Reduction Fund.
Who does the Big Box Bailout really hurt??
We shared the story of two credit union member business owners with legislators this week, owners that have a lot to lose with the Big Box Bailout bill. Do policymakers support bigger profits to the biggest retailers at the expense of businesses like this dog treat company or bakery? That question is central to our continued fight against this bill, because tilting the field toward the big guys at the expense of small businesses and consumers isn’t going to cut it.
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Advocating for the credit union industry
Compliance team provides needed support, information
The America’s Credit Unions Compliance team has more than 500 new subscriptions to our Compliance Blog, and more than 215 members reached out to the team for assistance in the first month of 2024 alone. You can count on America’s Credit Unions for best-in-class compliance support that includes rapid, informative responses, and I encourage you to stay up to date with our Compliance Blog, updated every Tuesday and Thursday.
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Experience GAC from anywhere
Building a movement filled with credit union advocates is key to advancing credit union priorities. Whether you’re unable to make it to Washington next month for the Governmental Affairs Conference (GAC) or have team members back home itching to experience this important event, GAC Online is the perfect way to engage and stay connected. Learn more about key issues like interchange and so-called “junk fees,” view exclusive keynotes and dive into a library of On-Demand content. A big thanks to our GAC Online sponsor Ncontracts.
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Three visionaries offering transformative insights
In partnership with the World Council of Credit Unions, we’re excited to share this year’s keynotes for the World Credit Union Conference, July 21-24 in Boston. Shawn Kanungo, René Carayol, and Erica Dhawan will provide dynamic insights on innovation in technology, ways to build diverse, engaged organizations and strategies for leading with empathy. By embracing change and leaning into new opportunities, we can continue elevating our mission globally and drive impactful innovation within our movement. Early bird rates end on April 12.