McWatters: Minority Credit Unions Play a Critical Role in ​​​​​​​Reaching the Underserved

Minority credit unions play a vital role in providing affordable financial services in the nation’s most underserved communities and the agency is looking at new ways to support them, NCUA Board Chairman J. Mark McWatters said yesterday.

“Unfortunately, minority credit unions are too often the only federally insured financial institution available in rural and urban communities that have been historically unserved by traditional financial institutions,” McWatters said. “Their presence in these communities provides an alternative to actors that engage in unfair practices at the expense of consumers.  It’s that commitment to serve that makes minority credit unions the embodiment of the credit union philosophy of people helping people.”

View the entire press release​