Members of Congress thank credit unions for advancing communities

Several prominent members of Congress addressed the CUNA Governmental Affairs Conference (GAC) via video Monday, including Speaker of the House Nancy Pelosi, D-Calif. Pelosi thanked the CUNA-League system and credit unions for their commitment to “our shared values” and saluted CUNA’s committed leadership for bringing the “voices of 130 million credit union members to our nation’s capital.” 

“For more than eight decades, CUNA has been a pillar of our nation’s credit unions that serve as a local bedrock, bringing critical financial services home to our families and small businesses—from cities and suburbs to rural communities,” Pelosi said. “As our nation battles the pandemic, credit unions have continued to offer essential financial services to many working families and small businesses across America.” 

Pelosi said she was proud of legislation passed that would get funding to credit unions and other community lenders, and gave a special thanks to the California Credit Union League.

“Personally, I’ve witnessed the extraordinary impact of credit unions in San Francisco and across California through the California Credit Union League. Thank you for all that you do on behalf of our state,” she said.

House Minority Whip Rep. Steve Scalise, R-La., gave a special shoutout to the Louisiana Credit Union League and thanked credit unions for their advocacy to block expanded Internal Revenue Service (IRS) reporting requirements.

“America’s credit unions have perfectly demonstrated how we can come together and provide for the financial well-being of all Americans during these challenging times,” he said. “You are truly an essential resource for the financial well-being of your 130 million members.”

Sen. Sherrod Brown, D-Ohio, chair of the Senate Banking, Housing, and Urban Affairs Committee, thanked credit unions for their member and community service in Ohio and across the country.

“We’ve always needed strong credit unions, your work to serve your members is fundamentally more important now than ever because you’re there when the big banks won’t lend to workers and small businesses, you’re there when Wall Street again refuses to reinvest in communities,” he said. “You help so many Americans participate in our economy, opening bank accounts, building businesses, buying first homes, saving for their children’s future.”

Brown said he’s fighting to make sure credit union members have the resources they need to lift up communities, while ensuring a level playing with banks and fintechs.

Rep. Patrick McHenry, R-N.C., ranking member of the House Financial Services Committee, pledged to support credit union priorities, and also thanked credit unions for their IRS reporting advocacy.

“For more than 100 years, consumers have benefited from the unique products and services provided by credit unions,” he said, adding that he and his colleagues are prepared to “fight to provide the support so you can keep the good work you do for the next 100 years, and beyond.”

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