ALEXANDRIA, Va. — While many are still sifting through all the data included in the NCUA’s 83-page Member Service Assessment Pilot Program, credit union trades seemed pleased with the results while the bank trades wanted time to take a deeper look at the results.

CUNA President and CEO Dan Mica pointed to numerous references in the congressional record outlining that Congress intended credit unions to serve the broad spectrum of working class people and not limiting them to only the poorest. He noted that, according to the American Payroll Association, 65% of Americans are dependent on their next paycheck to meet living expenses. He also stated, “There are more than 40 provisions in federal law which address, define and/or limit who credit unions may serve and the process those credit unions must follow to make changes in their membership eligibility. Further, from the turn of the last century until recently, traditional membership restrictions have obliged credit unions to organize memberships primarily around occupations, in which eligibility for membership was restricted to those who worked for an employer or group of employers, or family members of those so eligible.”

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