CUNA is now America's Credit Unions.
A stronger voice to advance the credit union industry.
Credit unions look to provide mortgage credit at existing or higher levels in 2021 and beyond, CUNA wrote to Senate Banking Committee leadership Thursday. The letter was sent for the record of the nomination hearing of Rep. Marcia Fudge (D-Ohio) to be Secretary of the Department of Urban Development. CUNA historically does not endorse presidential nominees.
“Spurred by the historic lows in interest rates, credit unions have continued to punch above their weight by providing a record-breaking number of mortgage loans,” the letter says. “These numbers include loan refinances that are reducing members’ monthly mortgage bills and purchase money mortgages as credit unions continue their mission of providing credit access to members who may not be able to receive financing from banks or other lenders.
“Credit unions are also continuing their historic role in financial education, informing members of significant mortgage relief available to those negatively impacted by the COVID-19 crisis,” it adds.
CUNA suggests the following housing priorities for consideration: