Modernize the Federal Credit Union Act
Changes in the financial services landscape and evolving consumer expectations have shifted the way people use and view their money. It’s time to let credit unions provide members across the country with 21st-century solutions.
Why you should care
- Modernizing credit unions’ field of membership would make access to financial services more equitable and ensure that all federal credit unions can serve more communities across the country.
- Lifting arbitrary business lending caps to further aid small businesses, family farms, and more.
- Allowing credit unions to service loans with terms longer than 15 years would create more opportunities for access to student, agricultural, and business loans.
Consumers who don’t use credit unions are 2x more likely to say they don’t have ready access to $500 for an emergency expense. (CUNA 2022 National Voter Poll Conducted by FrederickPoll)
Where we stand
Everyone deserves access to affordable financial services. Credit unions can reach traditionally underserved and historically marginalized communities, and support those in banking deserts through an expanded field of membership.
What you can do
Support credit unions in advancing more communities. Modernizing the Federal Credit Union Act will enhance our ability to reach consumers and communities that would most benefit from a dedicated not-for-profit financial partner and allow us to provide 21st-century solutions to their financial needs.
Senior Director of Advocacy & Counsel