BIRMINGHAM, Ala.-NCUA Vice Chairman Rodney Hood and Congressman Artur Davis (D-Ala.) addressed a group of more than 60 credit union leaders in Alabama late last month.
Davis kicked off the meeting, stating, "Credit unions should be thanked for helping the United States economy and our country's financial institutions become the strongest in the world. While we still have economic gaps among the people, you serve the middle of the spectrum, making the role of credit unions indispensable for large numbers of people who would not otherwise be served by traditional financial systems."
He stressed the importance of the movement and added that credit unions attract two types of people "with unique characteristics. One, those who have never had to ask for help before and two, those who have asked often and been denied. Credit unions understand the value of the human capital role. Don't ever lose sight of that."
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Vice Chairman Hood applauded credit unions and also called them "indispensable because you provide hope as well as assets." In addition, he strongly stated his support for risk-based capital reform found in the Credit Union Regulatory Improvements Act (H.R. 2317) and increasing credit union member business lending opportunities.
Hood also announced the recipients of grant money to be used toward financial literacy, board development and additional member services. He toured the NRS Community Development Federal Credit Union and Canaan Baptist Federal Credit Union in order to make the grant presentations in person.
Alabama Credit Union League President and CEO Gary B. Wolter commented, "We were pleased to offer this kind of face-to-face interaction for our credit unions. The personal exchange was valuable for all sides as the issues were addressed and heard by all of those involved in the process, from the frontline credit unions to the regulator and to the Congressman. This type of communication brings clarity and action to the topics facing credit unions and brings a personal face to the movement." -
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