WASHINGTON—Leaders from America’s Credit Unions, the New York Credit Union Association, and New York credit unions met with Rep. Claudia Tenney (R-NY) following her recent remarks regarding credit unions.
As CUToday.info reported, Tenney addressed credit union “inequities and disparities” while speaking at a banking conference last month.
During the meeting with Tenney, the group reiterated benefits outlined to Tenney by ACU President/CEO Jim Nussle and NYCUA President/CEO William Mellin in a letter to Tenney following her remarks.
The group highlighted that credit unions delivered an estimated $35 billion in financial benefits annually in the form of lower loan interest rates, higher savings yields, and fewer/lower fees.
“In contrast, the Joint Committee on Taxation estimates the value of the credit union tax status as $2.6 billion in 2023,” ACU said.
“We appreciate Rep. Tenney’s willingness to engage in this productive discussion,” Mellin said. “We look forward to continued collaboration to advance the mission of our credit unions in delivering essential financial services to their members and communities.”