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Rep. Holmes Norton notes CUs responsible lending
WASHINGTON (2/24/09)—U.S. Rep. Eleanor Holmes Norton (D-D.C.) told a crowd of more than 4,200 credit union representatives Monday, “Congress knows credit union have been responsible” financial institutions. Addressing the opening general session of the Credit Union National Association’s (CUNA’s) 2009 Governmental Affairs Conference (GAC), Holmes Norton praised credit unions for being responsible lenders. “You serve your members. You serve your communities. You are cooperatives.” She noted that credit unions are not responsible for the current problems in the country’s mortgage markets, because they did not make the kinds of loans that have caused the upheaval. During an introduction of the congresswoman, Mike Beall, Maryland and District of Columbia Credit Union Association president, reminded attendees that Holmes Norton was instrumental in turning around a credit union conversion.


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