Removing Barriers Blog

Email to the Hill: Recovering from COVID-19
Posted June 23, 2020 by CUNA Advocacy

In a message to all 535 Congressional offices, CUNA highlighted ways Congress can act to help credit unions help members recover from the pandemic and the associated economic crisis.

CUNA asks that Congress: 

  • Support House and Senate bills to exempt credit union member business loans made during the emergency from the member business lending cap for one year. This legislation would create as many as 50,000 jobs and open up $5 billion;
  • Support legislation that would establish a $75 billion Housing Assistance Fund at the Treasury to reduce mortgage defaults, foreclosures and displacements;
  • Appropriate funds to Treasury’s Community Development Financial Institutions Fund and NCUA’s Community Development Revolving Loan Fund to provide relief to low-income communities 
  • Provide liability protection for businesses, including credit unions, serving consumers at this critical time; and
  • Extend Central Liquidity Facility expansion and Troubled Debt Restructuring to ensure credit unions and borrowers are protected.



    
Good morning,
  
Credit unions are fully committed to helping your constituents recover from the economic crisis following COVID-19. 
 
We ask that Congress: 

  1. Support H.R. 6789/S. 3676 which will create as many as 50,000 jobs and open up $5B in private capital 
  2. Support S. 3620 to reduce mortgage defaults, foreclosures and displacements 
  3. Appropriate funds to CDFI and CDRLF to provide relief to low-income communities 
  4. Provide liability protection for businesses, including credit unions, serving consumers at this critical time 
  5. Extend CLF expansion and TDR restructuring to ensure credit unions and borrowers are protected

Learn more

Credit unions are our nation's financial first responders and are the best equipped to support the people who need help the most. We look forward to working with you on these pressing priorities.  

Respectfully,

Credit Union National Association
 
Ryan Donovan 
Chief Advocacy Officer 
Credit Union National Association