CUNA to Congress: Changes to CRA should Strengthen Credit Union-Bank Partnerships

April 10, 2019


April 9, 2019  

Washington, DC 

Credit Union National Association (CUNA) today wrote to the Subcommittee on Consumer Protection and Financial Institutions ahead of their hearing on ways to improve the Community Reinvestment Act’s (CRA) impact on redlining and discrimination. The letter spotlights the importance of partnerships between banks and credit unions to extend financial services to rural, minority and other underserved communities across the country.  

As not-for-profit, financial institutions, credit unions have historically sought to meet the needs of their members regardless of their race, gender or socioeconomic status. CUNA maintains their position that credit unions are not, and should not, be subject to CRA requirements as they play a “critical role” in helping banks meet their obligations to traditionally underserved communities.  

A significant amount of loans originated by credit unions fit within the criteria of CRA-eligible products. This is due to their mission of serving people of modest means. Credit unions sell these loans to banks as part of the banks’ overall efforts to adhere to the CRA requirement. This process, in turn, serves as a liquidity resource for credit unions. This resulting CRA partnership between banks and credit unions is an important piece of credit unions’ ability to extend financial services to underserved communities. 

CUNA, League partners and credit unions met with Sen. Elizabeth Warren regarding the American Housing and Economic Mobility Act of 2019 to demonstrate credit unions’ strong track record of meeting the needs of underserved communities.  

The latest version of CRA introduced in this Congress does not require credit union compliance with the CRA – a result of months of advocacy engagement demonstrated to Warren and other bill sponsors that credit unions already abide by the rules by providing services to a variety of diverse populations.  

Read the letter in full here.


About CUNA:        
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 To find your nearest credit union, visit  


Lauren Williams      
CUNA Communications