RALEIGH, N.C. (4/6/09)--State Sen. Sam Queen, a proponent of affordable housing as a means of building wealth and strengthening the middle class, praised the work of North Carolina's credit unions in this critical area and in several other areas last week. The Democrat, who represents the 47th Senate District in western North Carolina, offered glowing remarks about credit unions during the Annual State Capital Connections program April 1. The remarks were made in an on-camera interview with Dan Schline, senior vice president of association services for the North Carolina Credit Union League. The video is displayed on the league's Weekly Update
Queen noted credit unions' efforts in assisting struggling homeowners and said they "haven't been in subprime lending…they haven't been in these derivatives…they've just been doing good old-fashioned lending to help people build homes and build solid families." He also praised their financial literacy efforts and expressed gratitude to credit unions for how they educate and help families. Credit unions are a "very important institution," he said, adding that they are "in great shape." "Credit unions do a great job of serving the people that do business with them…that save and borrow there," he told the league.