America’s Credit Unions President/CEO Jim Nussle wrote to the House Financial Services Housing and Insurance Subcommittee to provide the credit union perspective ahead of Wednesday’s hearing to examine current challenges for homebuyers.
Nussle highlighted credit unions’ commitment to furthering financial inclusion and the industry’s long history of assisting members with homebuying, financial literacy, and wealth building programs.
“That said, credit unions understand that a significant gap remains in access to housing for moderate- to low-income and minority members,” wrote Nussle. “Credit unions are working to close this gap.”
He offered support for several pieces of legislation that would advance credit union priorities, including:
- the Expanding Financial Access for Underserved Communities Act, which would help achieve the goal of allowing credit unions to better serve minority and disadvantaged populations;
- the Homebuyers Privacy Protection Act, which would limit the use of mortgage trigger leads to credit unions and other entities that have a consumer’s authorization or an existing business relationship with a consumer; and
- the Housing Financial Literacy Act.
America’s Credit Unions will remain engaged with lawmakers to ensure credit unions can effectively meet the needs of their more than 140 million members.
