America’s Credit Unions calls out inaccurate attack on industry

America’s Credit Unions Chief Advocacy Officer Carrie Hunt wrote to National Taxpayers Union (NTU) President Pete Sepp to call out inaccuracies in a recent blog post.

“While Mr. Bishop-Henchman and Mr. Putnam may be knowledgeable about tax policy, they clearly do not understand credit unions, the purpose they serve in the financial services industry, nor the role they serve in helping Main Street America,” wrote Hunt.

She explained that credit unions continue to live their mission of serving all Americans while evolving “to provide a modern approach to what consumers need.” Hunt also noted the inaccuracy of claiming that credit unions have grown larger than Congress intended, as Congress placed no cap on the size of a credit union. Instead, she highlighted that credit unions were created to put people over profits and meet the credit and savings needs of consumers.

In addition, Hunt clarified that credit union growth “is because more Americans every day are seeing the credit union difference and choosing to leave big banks for institutions they trust and where they are valued.” She concluded by noting the data shows credit union members saw more than $21.5 billion in economic benefit because of credit unions.

America’s Credit Unions will continue to push back against inaccurate attacks on credit unions and highlight the credit union difference.

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