SEATTLE — NCUA Chairman JoAnn Johnson told attendees at this year's African-American Credit Union Coalition conference that their voices must be heard when it comes to having the ability to serve those of modest means.
Johnson provided a legislative update on industry issues including data collection to prove that credit unions are serving those of modest means, a Congressional request that was not unreasonable to ask for, she said. NCUA is on schedule to have those collection efforts completed by the end of the month.
"Some members of Congress think when a member reaches a certain income, they should not belong to a credit union," Johnson said. "As a regulator, I think this is wrong. All consumers should be able to move up from that low rung on the ladder. Credit unions are legally empowered to reach out."
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