Removing Barriers Blog

Email to the Hill: Credit unions focus on Main Street
Posted April 24, 2020 by CUNA Advocacy

On Friday afternoon, CUNA wrote to all 535 Congressional offices reminding them that credit unions are there for their members and have been active participants in the SBA's Paycheck Protection Program.

Dear Staffer, 

Credit union PPP loans have averaged $64,000 to date.

During the first round of PPP lending, credit unions focused on Main Street businesses -- the floral shops, restaurants, beauty salons, and gift stores that might only employ a handful of people but are at the heart of our communities across the country.

Early estimates indicate credit unions facilitated tens of thousands of PPP loans, averaging $64,000 per loan—a true indication of the powerful bond between credit unions and the small businesses that make communities so resilient. Additional PPP funding and the community lender set-asides will go a long way in helping small business owners and their employees weather this crisis.

Focusing on Main Street

Credit unions support communities in good times and bad.
We are here every day for 115 million Americans who need us during the pandemic and resulting recession. 

And we’ll continue to be here, whenever our members need us most.

Ryan Donovan
Chief Advocacy Officer
Credit Union National Association