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News Now

Washington
Senate Finance chair recognizes CU efforts
WASHINGTON (3/7/08)--Credit unions know that there’s no place like home, and they also know that without homes there is no community—which is why they work to keep members in their homes, according to Sen. Max Baucus (D-Mont.), another Governmental Affairs Conference (GAC) closing session speaker. Baucus touched on the problems triggered by the subprime loan debacle, highlighting credit unions’ community investment. In addition to creating affordable loans, credit unions help by providing financial education and free income tax assistance, Baucus said. “Credit unions are helping the next generation be wise with money,” he said. The senator encouraged credit unions to take advantage of the opportunities and continue helping. Credit unions have played a large role in Montana and nationwide by making loans that are not predatory, he added. “Credit unions are the foundation of the community,” he said. “They can demonstrate the benefits of cooperative lending.” The GAC was presented in Washington by the Credit Union National Association this week.


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