BRISTOL, R.I. - NCUA Vice Chairman Rodney Hood tackled the tough issue of home financing as the featured speaker during the Rhode Island Credit Union League's 72nd Annual Meeting last week.
Hood addressed the role of credit unions in helping finance homes for low- and middle-income families in the Northeast with housing prices so high. He praised the work that credit unions have done in the area to help create more homeowners and stated that he wanted to make sure NCUA works with credit unions for solutions to rising home prices. "Credit unions have played a pivotal role in helping Americans achieve unprecedented levels of home ownership," Hood stated.
He added that credit unions should push harder in their efforts to serve the underserved. "When credit unions retreat, the only winners are bankers and their trade groups," he said.
Prior to the meeting, Hood met with officials at Credit Union Central Falls at their headquarters in Smithfield. He also attended an informal luncheon meeting with a group of local credit union leaders.