Americans feel financially stressed, says Cathie Mahon, president/CEO of the National Federation of Community Development Credit Unions.
That’s clear from the results of the presidential election. Americans are demanding that “somebody’s got to do something,” she says.
“Regardless of political perspective, race, ethnicity, or geography, it's clear the American people are feeling financial anxiety. They're feeling a lack of financial security. They're feeling overburdened, stressed, fearful of their future. I think that's really across the board,” Mahon says.
Mahon spoke to the CUNA News Podcast when The Federation gathered in Dallas for its annual meeting last month, only a week after the presidential election.
Politics was clearly on everyone’s mind.
“I don't know that we expected it to be as explicit and as big of a theme,” Mahon says. “But the presidential election, and the whole election season, was so divisive in so many ways.”
In a wide-ranging conversation, Mahon shares her thoughts on 2016 and the year ahead, the Juntos Avanzamos initative, her background in public service, and the challenges community development credit unions face today.
The Federation serves community development credit unions, which specialize in serving people with limited access to affordable financial services, including low-income wage earners, immigrants, and minorities communities.