Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARLINGTON, Va. – Stung by allegations they do not adequately serve lower and middle income members, credit unions around the country began scrambling to point out what they do and started doing more where possible. Coming on the heels of NCUA’s abandoning of the controversial Community Action Plan regulation, and a report from the Woodstock Institute alleging credit union inactivity with the poor, CUNA began surveying 2,400 credit unions about how they serve their low-income members in September. The results, which have yet to be released, will provide a benchmark picture of how credit unions are doing nationwide, said Bill Hampel, CUNA’s chief economist. But credit unions around the country did not wait for CUNA’s lead and widely began to reach out to low-income members and those without financial services living nearby. More federal credit unions than ever before took advantage of a streamlined NCUA application process to add underserved areas to their fields of membership and individual credit unions began getting involved with community development initiatives in their communities.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.