Credit unions are unique in the financial world. Rarely do youfind a financial institution that clearly and emphatically says itis not working for a profit.

At the Consumer Financial Protection Bureau, we like that thefocus of your business model is excellent customer service. Thismodel allows people to help other people by providing high-qualityfinancial services to the credit union members. With tens ofmillions of members and thousands of locations in this countryalone, credit unions are indeed fulfilling their mission ofservice.

To pilot a prototype credit card agreement, we have been workingwith one of the largest credit unions in the country, PentagonFederal Credit Union. As part of our “Know Before You Owe”campaign, we released a simplified agreement that is short, writtenin plain language, and explains the key features. Pentagon FCU hasmore than one million members and 350,000 cardholders, so we arevery pleased to be running our pilot program with them.