Increased access to credit unions is affordability solution

More people need access to credit unions, America’s Credit Unions Chief Advocacy Officer Kathleen Coulombe wrote to all Congressional offices Friday, because they provide loans and services that families need and depend on. The message follows this week’s community bank fly-in to meet with legislators in Washington, D.C.

“The reality: Credit unions are a small but vital solution that strengthens the financial well-being of individuals and communities,” Coulombe wrote. “We serve those left behind by banks, providing life-changing opportunities through our people-first mission, and make sure Main Street businesses can grow.”

Despite false bank claims:

• 94% of Americans think credit unions should be able to serve even more communities and provide more loans to small businesses to promote economic growth
• 91% of credit union members trust their credit union, compared to 84% of bank customers; and 
• 79% agree that Americans would be better off financially using a credit union.

“These numbers tell the real story, rather than baseless complaints from the banking lobby who would rather eliminate credit union competition,” she wrote.

Friday’s message follows Coulombe’s message to Congress earlier in the week rebutting bank claims with facts, engagement with members of Congress at a financial education event, and publishing an op-ed on the positive impact credit unions have in communities.