Today Credit Union National Association (CUNA) Chief Advocacy Officer Ryan Donovan released the following statement after House Financial Services Committee (HFSC) Chairwoman Maxine Waters passed a resolution (H. Res. 77) expressing the sense of Congress that financial institutions should proactively work with their customers affected by the shutdown who may be facing short-term financial hardship and long-term damage to their creditworthiness.
“As financial institutions with a mission and structure centered around working with our member-owners in times of financial hardship—especially for those emergencies that fall outside of their own control—we wholeheartedly support the sentiments agreed upon in the House, today,” said CUNA Chief Advocacy Officer Ryan Donovan. “From the beginning of the shutdown, credit unions have been serving affected members, offering deferred payments on existing loans, low- and no-interest personal loans, and other solutions designed to meet individuals’ specific needs.”
CUNA has engaged with Chairwoman Waters, HFSC Leadership and individual services committee members highlighting their recent letter and reminding them of the shutdown assistance credit unions have been and continue to provide for their members.