CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact

News

Home » CUs continue to make a difference, can do more
Policy & Issues

CUs continue to make a difference, can do more

February 17, 2022
Cap2

Credit unions are well-positioned to remove barriers to credit faced by small and minority-owned businesses, CUNA wrote to a House Financial Services Subcommittee Thursday.

“Despite field of membership restrictions, credit unions advance financial inclusion and access by locating roughly 70% of credit union branches in racially/ethnically diverse areas compared to roughly 60% of bank branches. We are pulling together as movement to support our members and make a difference in their lives, but we know that we could do more.”

CUNA also expressed:

  • Strong support for the Expanding Financial Access to Underserved Communities Act, which would exempt business loans made by credit unions to businesses in underserved areas from the member business lending cap at 12.25% of assets.
  • Concern over the about the potential for unintended consequences and substantial costs of compliance associated with the creation of a broad data collection where one does not currently exist.

Credit Union Magazine: Spring 2022

Spring 2022

Credit Union Magazine’s Spring 2022 edition profiles four Credit Union Heroes and examines CUNA's advocacy priorities, the advocacy army, and financial well-being for all.
Digital Edition •  Subscribe

Trending

  • FOM modernization bill passes House Financial Services Committee

  • House committee to mark up field of membership modernization bill

  • Final flood Q&As reflect CUNA-sought clarifications

Tweets by CUNA_News

Polls

Are you ready for CECL?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2022 Credit Union National Association | ADA Compliance Notice & Legal
Email Us