MD|DCUA responds to inaccurate WSJ op-ed on credit unions

The MD|DC Credit Union Association wrote to their congressional delegation in response to an inaccurate op-ed published in the Wall Street Journal.

The Association notes, “credit unions are member-owned, not-for-profit financial cooperatives dedicated to improving the financial well-being of members and the communities they serve,” while the op-ed attacking credit unions is “misleading and inaccurate.”

The MD|DCUA also pushed back on the claim that CUNA and League member Congressional Federal Credit Union has moved away from its mission, noting Congressional Federal Credit Union, “takes a deliberate and responsible approach to fulfilling its mission.

Last year, the credit union expanded its charter to encompass an underserved area of Washington, DC. The initiative is a natural extension of Congressional FCU’s commitment to offering affordable financial services that are accessible to its community,” the letter reads.

CUNA President/CEO Jim Nussle and NAFCU President/CEO Dan Berger published a response in the Wall Street Journal last week.