NAFCU recommends ways to increase CUs’ service to women-, minority-owned businesses

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » Ahead of today’s House Financial Services subcommittee hearing examining the challenges that women- and minority-owned businesses may face when accessing capital and financial services during the pandemic, NAFCU’s Brad Thaler offered support for the subcommittee’s efforts to address these issues.“As we have shared with you before, credit unions are proud of their record of diversity and commitment to helping the portions of their communities that are most in need with high-quality financial products and services,” wrote Thaler, NAFCU’s vice president of legislative affairs.Thaler noted that there are 526 federally-insured minority depository institution (MDI) credit unions and 292 credit unions that are designated community development financial institutions (CDFIs). He stressed the importance of “ensuring that these institutions have the resources they need to survive and serve their members during these challenging times.”Specifically, Thaler asked the subcommittee to include additional set asides in future relief packages specifically for CDFIs and MDIs, similar to what was included in the House’s HEROES Act.last_img

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