ADVOCACY

Making financial opportunity more accessible

Credit unions deliver what Washington says it wants: 

Competition. Affordability. Opportunity.

For nearly 120 years, credit unions have helped Americans achieve the American dream.

Founded in the early 1900s to provide an alternative to predatory lenders, credit unions were built on a simple principle: financial services should serve people, not profit. Today, that mission remains as important as ever.

Credit unions serve more than 146 million Americans and support families, small businesses, veterans, and communities in every congressional district. They are not-for-profit, member-owned financial cooperatives that reinvest earnings into better rates, lower fees, and stronger communities, not shareholder returns.

As policymakers look for ways to improve affordability, strengthen competition, and expand economic opportunity, credit unions are already delivering results.

$352 billion

contributed annually to the U.S. economy.

1.3 million jobs

supported nationwide.

146 million members

served across America.

Credit union advocacy

The credit union difference isn't just financial. It's economic.

Credit unions have served Americans since 1909. 

They have helped families and businesses weather the Great Depression, World War II, the 2008 financial crisis, and the COVID-19 pandemic. 

Throughout every economic cycle, credit unions remain focused on providing safe, affordable financial services that help Americans buy homes, start businesses, save for the future, and recover from financial setbacks. 

Credit unions have been there through it all—and continue to serve as trusted financial partners for millions of Americans.

Credit unions are more than financial institutions. 

They are economic engines that strengthen local economies, support entrepreneurship, and create opportunity where it is needed most. 

Their impact extends beyond members to local employers, small businesses, and entire communities. 

Every day, credit unions help finance first homes, support local employers, provide capital to entrepreneurs, and expand access to affordable credit. 

The result is a stronger, more resilient economy that benefits communities nationwide. 

The numbers tell the story  

  • $352 billion annual contribution to the U.S. economy 
  • 1.3 million jobs supported nationwide 
  • 146 million members served 
  • More than 2.5 million small businesses rely on credit unions 
  • Military families represent more than half of all members at the nation's largest credit unions 

These are real people, real communities, and real economic opportunity. 

Unlike investor-owned banks, credit unions are member-owned and not-for-profit. 

That means every decision begins with one question: 

How does this benefit our people and communities?  

Instead of distributing profits to shareholders, credit unions reinvest earnings into: 

  • Lower loan rates 
  • Higher savings returns 
  • Reduced fees 
  • Financial education 
  • Community development 
  • Small-business lending 

The result is a financial model designed to maximize value for consumers, not investors. 

Expanding opportunity for working families

Credit unions help Americans achieve life's most important goals. 

From first homes to family businesses, credit unions help create pathways to financial stability and upward mobility. 

When a family finances a vehicle through a credit union instead of a traditional auto lender, they can save up to $9,983 over the life of the loan —money that remains in household budgets and local economies. 

These savings help families build wealth, create financial resilience, and invest in their futures. 

Across the country, traditional financial institutions have reduced their presence in rural and underserved communities. 

Credit unions continue to step in where others step back. 

They provide trusted financial services in: 

  • Rural communities 
  • Military communities 
  • Low- and moderate-income communities 
  • Underserved neighborhoods 
  • Small-business markets 

Credit unions also serve a higher share of lower- and middle-income households than banks and maintain a significantly higher share of household lending compared to many for-profit institutions. 

When communities need access to affordable financial services, credit unions are often the institutions that remain. 

For millions of Americans, access to affordable credit can determine whether opportunity is possible. 

Credit unions help veterans purchase homes. 

They help entrepreneurs start businesses. 

They help working families purchase vehicles, build savings, and weather financial hardships. 

In communities where banks have reduced their presence or exited altogether, credit unions provide the lending, savings, and financial support local economies depend on. 

Credit unions help create opportunities that might otherwise remain out of reach.

What's at stake

Policies affecting credit unions do not simply affect financial institutions. 

They affect the people and communities credit unions serve. 

When credit unions are weakened, families and the more than 2.5 million small businesses that rely on them lose access to affordable, community-centered financial services. 

Credit unions serve as a critical competitive check within the financial marketplace. 

Without credit unions, costs rise and consumer choice declines. 

America's financial marketplace is already becoming more concentrated. 

The largest 100 banks now control 75% of all depository assets , up from 41% in 1992.  

Over the same period, small banks and credit unions have seen their collective market share fall from 59% to just 25%.  

Further weakening credit unions would accelerate a consolidation trend that is already reducing competition and limiting choices for consumers and communities. 

For many Americans, especially those in underserved communities, there may be nowhere else to turn. 

Protecting credit unions means protecting the American dream

Homeownership. Small business ownership. Financial stability. Economic mobility.

For millions of Americans, these goals feel increasingly out of reach.

Credit unions remain one of the few financial institutions explicitly designed to help make them attainable.

Without strong credit unions, the gap between aspiration and opportunity grows wider.

For communities that already have the fewest options, that gap could become permanent.

Protecting the credit union model means protecting affordability, competition, and opportunity for future generations of Americans.

Credit union advocacy

The bottom line

Credit unions are not asking Washington for special treatment.

They are asking policymakers to recognize what nearly 120 years of service have demonstrated:

When credit unions thrive, consumers benefit.

When consumers benefit, communities grow stronger.

And when communities grow stronger, America grows stronger.

 

 

From our blog