CUNA wrote in support of legislation to aid veteran homeownership—the Building Credit Access for Veterans Act—this week. The letter was sent for the record of a House Veterans Subcommittee on Economic Opportunity hearing on several pieces of legislation.
The bill would direct the Secretary of Veterans Affairs to create a pilot program that would assess the viability of using alternative credit scoring information, including proof of insurance, utilities, or rent histories.
Credit unions have a proud tradition of serving America’s servicemembers and veterans. Some of the oldest credit unions in the country were founded to serve members of the military and continue to serve servicemembers and veterans,” the letter reads.
“Credit unions are member-owned cooperatives that exist to look out for the financial well-being of their members,” it adds. “This legislation could potentially help more veterans achieve their goals of homeownership.”