Removing Barriers Blog

CUNA Writes to Committee on the Important Role of Credit Unions in the Housing Market
Posted April 30, 2019 by CUNA Advocacy

CUNA wrote to Chairwoman Waters and Ranking Member McHenry prior to the House Financial Services Committee hearing entitled, “Housing in America: Assessing the Infrastructure Needs of America’s Housing Stock.”

In the letter, CUNA wrote that Credit unions play an increasingly important role in the housing finance market and, as a result, have a vested interest in ensuring an adequate supply of housing stock. Many credit union members, throughout the United States, live in communities where the nation’s housing stock has become more limited and unaffordable.

Credit unions are committed to not only serving our members, but also serving our communities. As Congress looks for solutions to the problems surrounding this nation’s increasingly limited housing stock, we hope that it will recognize the potential for credit unions to help alleviate the challenge by revisiting the arbitrary statutory cap that limits most credit unions to currently lending no more than 12.25% of their assets to businesses.