WASHINGTON—Following this week’s ICBA Washington Summit, America’s Credit Unions moved Friday to reinforce its message on Capitol Hill, with Chief Advocacy Officer Kathleen Coulombe sending a memo to congressional offices emphasizing the industry’s “people over profit” model and its role in serving local communities.
In the note, Coulombe stressed that more than 146 million Americans rely on credit unions, arguing they provide affordable financial options to families, farmers and small businesses often underserved elsewhere. She contrasted that reach with the sector’s relatively small footprint, noting credit unions serve roughly 43% of Americans but hold just 8.8% of total financial institution assets.
The outreach comes as credit unions respond to criticism raised during the bankers’ fly-in, with Coulombe pushing back on what she characterized as industry complaints. She said credit unions remain a “small but vital solution,” pointing to polling cited in the memo showing 94% of Americans support expanding credit union access and small business lending, while 91% of members trust their credit union compared with 84% of bank customers.
Coulombe concluded by urging lawmakers to view credit unions as partners in advancing financial access, highlighting lower fees, competitive rates and a focus on financial well-being. She said America’s Credit Unions and state leagues stand ready to work with Congress on policies aimed at supporting consumers and Main Street businesses.