NEW ORLEANS–While NCUA Board Member Gigi Hyland praised the work of the National Federation of Community Development Credit Unions during its 33rd Annual Conference on Serving the Underserved, she stressed that credit unions exist to serve all their members.

“I think that credit unions are chartered to do one thing very well — serve your members. Regardless of your charter type or whether you have a 'low-income' designation, or whether you are a CDCU, your goal is to serve your members. If you believe in credit unions, then you have to believe in the members,” Hyland, chair of NCUA's Outreach Task Force, said. She also provided an update on the task force's efforts; a town hall was held in conjunction with the Federation's meeting.

Hyland also noted the Federation's work with CDCUs to reach out to low-income communities that are often ignored by the banks and scavenged by predatory lenders.

She also highlighted areas that need immediate attention from the current economic climate to regulatory and examination modernization to renewing commitment in credit unions' cooperative spirit and the membership.