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WASHINGTON — NCUA Board Member Gigi Hyland highlighted the irony of banker statements that credit unions are not doing enough to serve those of modest means while simultaneously having successfully sued to bar non-multiple common bond credit unions from adopting underserved areas.

“While we will provide the GAO with the raw data the agency collected, such data will be accompanied by a full analysis and report that effectively responds to the questions asked of the agency and reflects the ways credit unions are reaching out to all of their members,” Hyland assured. Credit unions and their trade associations have raised concerns that credit union fields of membership, often restricted to an employee group, have restricted them from serving some of the underserved.

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