CUs difference is investment in financial inclusion, health, security
One hundred and fifteen million Americans have chosen to become member-owners of a not-for-profit credit union because credit unions put members ahead of profit, CUNA Chief Advocacy Officer Ryan Donovan wrote to Congressional offices Tuesday. This week’s communication is the latest in CUNA’s continued engagement with all Congressional offices on the benefits of the credit union difference around the country.
“Credit unions are only as strong as their members,” Donovan wrote. “That’s why they continue to invest in their members’ financial inclusion, health, and security. That is the credit union difference.”
The message notes that:
- Nearly 50% of all credit unions have a specific focus on low-income families;
- Families have saved more than $3,800 on average through credit union debt management programs;
- More than 500 credit unions provided more than $46 million in low- and no-interest loans to more than 60,000 members affected by the 35-day government shutdown that went from December 2018 to January 2019.
CUNA’s last communication to Congress pointed out numerous inaccuracies in recent bank attacks, and CUNA will continue its engagement with Congress on the credit union difference and its effect on 115 million Americans in the coming weeks.