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Interest rates have risen from the unprecedented lows that followed the 2008 financial crisis and persisted for more than a decade. With this rise, calls have come to increase the credit union interest rate ceiling. Recent industry proposals include a 21% ceiling or a floating ceiling of 15 percentage points above the prime rate.

At Inclusiv, we see things a little differently. As a mission-driven network of community development credit unions (CDCUs), Inclusiv balances a mission of promoting the financial inclusion and well-being of low-income households with supporting the financial sustainability of our network of more than 450 CDCUs. And we vigorously oppose an increase to the 18% interest rate ceiling on both counts. Here’s why:

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