Simpson: Credit unions deliver affordability
Credit unions can and should be part of any policy solution tackling affordability. Writing in CUInsight, America’s Credit Unions President/CEO Scott Simpson said credit unions work at the local and national level toward making life more affordable.
“Credit unions delivered a total of $41.5 billion in economic benefits to consumers in 2025, the highest number recorded,” he wrote. “This is nearly 17 times the estimated ‘cost’ of the credit union tax status and includes $29.9 billion direct financial benefits to members.”
Non-members saw an additional $11.7 billion in benefits due to credit unions’ presence in the marketplace. In total, credit unions make a $352 billion contribution to overall GDP and support 1.3 million jobs.
The Community Development Financial Institutions (CDFI) Fund is an example of how credit unions maximize the impact of federal dollars, turning every $1 from the government into $12 in private investment.
With America’s Credit Unions’ analysis showing 2025 was a record year for credit union benefits to consumers, Simpson wrote it is “a trend that policymakers have the ability to not only continue, but increase.”
“Beyond appropriations, modernizing reporting thresholds, providing regulatory relief, and adding more business lending flexibility are just a few of the ways this Congress can act to get more capital to those who need it,” Simpson continued. “Affordability can and should be a bipartisan issue. Near-term and long-term, in the big picture and in this current moment, credit unions are poised to do even more for communities.”
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