Field of Membership
Where We Stand
Credit unions are committed to expanding access to a trusted, local financial partner at a time when banks are focused on cherry-picking branch locations and then closing those that don’t meet stringent profit criteria. America’s credit unions support the Expanding Financial Access for Underserved Communities Act.
In May, the House Financial Services Committee advanced the CUNA-League-led H.R. 7003, Expanding Financial Access for Underserved Communities Act with a 27-22 vote. The bill represents the most significant proposed update to the Federal Credit Union Act since 1998
Blogs, Comments & Information
Advocacy Win!
The House Financial Services Committee advanced the CUNA-League-led Expanding Financial Access for Underserved Communities Act. The bill represents the most significant proposed update to the Federal Credit Union Act since 1998.
CUNA submitted comments for the record supporting H.R. 7003 and other bills in the markup. CUNA, the American Association of Credit Union Leagues, and all state Leagues also submitted comments in support of H.R. 7003.
Removing Barriers Blog
The Expanding Financial Access for Underserved Communities Act will enable credit unions to provide financial services to more communities, often areas banks have abandoned or shown little interest in serving, CUNA wrote to House Financial Services Committee leadership. The committee Chairwoman Maxine Waters, D-Calif., introduced the CUNA and League-supported field of membership modernization legislation.
Letter
CUNA writes to HFSC Leadership prior to mark-up in support of H.R. 7003 and other legislation
Letters were sent to Chairwoman Waters and Ranking Member McHenry prior to the legislative mark-up scheduled to start on May 17th.
The letter reiterates strong support for H.R. 7003, the Expanding Financial Access for Underserved Communities Act. The letter also supports H.R. 7022, the Strengthening Cyber-Security for the Financial Sector Act of 2021 and H.R. 5912, the Close the ILC Loophole Act.
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