WASHINGTON–One member of the House of Representatives offered a testimonial for the role of credit unions during brief remarks here.
Rep. William Lacy Clay (D-MO), a 19-year member of Congress who has championed minority and low-income causes during his career, told NAFCU’s Congressional Caucus here the fight must continue to fight redlining in housing that “perpetuates poverty and segregation” and which “makes it harder for low-income and minority homebuyers to purchase their own homes and start building their own wealth.”
A CU member since he was a child, Clay said he stands with the “credit union movement to reduce the number of unbanked people who have never known the stability” of having a financial account.
“We are going to help people to getting on the right path. We are going to help people to save for a better future,” he said. “And we are going to drive the predatory lenders out of business once and for all.”
Clay, who called credit unions “beacons,” said banks have “turned their backs on people of color and even locked their doors,” while CUs have “treated people with dignity.”