Simpson talks credit unions, affordability, Trump Accounts

America’s Credit Unions President & CEO Scott Simpson underscored why credit unions must be authorized providers of Trump Accounts created under H.R. 1 during a live interview Wednesday on The Austin Rhodes Show (WGAC 580 AM/95.1 FM) covering a range of affordability and wealth-building issues.

“This is real money and it's kind of a once in a generation opportunity to transform opportunity for American families,” Simpson said of the accounts.

The appearance followed recent remarks from Treasury Secretary Scott Bessent emphasizing financial literacy as a top administration priority and highlighting Trump Accounts as a new pathway to help families build long-term financial security from birth.

Simpson told host Austin Rhodes that “these accounts are a great on-ramp to opportunity for Americans,” he said. “We're still waiting for details and for credit unions, we believe that it's perfectly aligned with our foundational origin story of creating economic opportunity.”

America's Credit Unions has advocated for credit unions to be authorized providers of the accounts and warned that limiting custodians to a narrow group of providers would undermine the program’s reach, especially in underserved communities. “We represent regular folks, Main Street America, and we want to be part of the solution,” noted Simpson.

Simpson also discussed Wednesday’s Federal Open Market Committee decision to lower interest rates, affordable housing issues, and the changes the financial services marketplace has experienced over the past two decades.