U.S. Capitol building. U.S. Capitol building. (Image: Shutterstock).

Nearly one month after it was introduced in the U.S. House of Representatives, the Expanding Financial Access for Underserved Communities Act passed the House on Wednesday afternoon and will move on to lawmakers in the Senate for consideration.

The bill, fully supported by CUNA and NAFCU, could become one of the most substantial updates since 1998 to the Federal Credit Union Act by allowing all federal credit unions to include underserved areas to their field of membership – adding areas not within 10 miles of a branch to the definition of an underserved area.

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Michael Ogden

Editor-in-Chief for CU Times. To connect, email at [email protected].

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