FOR IMMEDIATE RELEASE
May 7, 2020
Credit Union National Association (CUNA) President/CEO Jim Nussle released the following statement after National Credit Union Administration (NCUA) Chairman Rodney Hood announced Thursday that military designated PO boxes will now be able to count toward a credit union earning the Low-Income Credit Union (LICU) designation. This change comes after a Nussle wrote to Chairman Hood in March, asking for the agency to consider such a policy.
“We want to thank Chairman Hood because his action will allow more credit unions to leverage the LICU designation to serve low- and moderate-income individuals and communities, which is especially critical as financial first responders work diligently to serve members during the pandemic,” said Nussle. “Chairman Hood’s action will help more credit unions to qualify as low-income credit unions, extending to many military members living on bases the greater financial opportunities and expanded products afforded by this designation.”
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 115 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.