The access became possible due to a waiver issued by the National Telecommunications and Information Administration (NTIA).
“The original language for internet service providers (ISPs) seeking credit as part of the grant process from financial institutions to expand capacity only mentioned a ‘U.S. bank,’ but the waiver updates the language to include credit unions insured by NCUA,” CUNA stated.
Added CUNA Deputy Chief Advocacy Officer for Federal Government Affairs Jason Stverak, “We thank the NTIA for issuing this waiver, which ensures credit unions can continue to do what they do best: meet their community’s needs, whatever they may be. Credit unions share policymakers’ goal of expanding affordable, reliable high-speed internet access, and many have relationships with entities that serve their communities already in place.”
‘For Years to Come’
Under the BEAD Notice of Funding Opportunity (NOFO), ISPs in all U.S. states and territories are eligible for grants to “build and deploy high-speed internet networks” and to “to operate those networks for years to come,” with a focus on rural areas.
CUNA Responds to Banks' Statement
Separately, CUNA has responded to written testimony from the Association of Military Banks of America (AMBA) to the Senate Banking Committee, calling the association’s statements a “shame.”
The response it to a statement AMBA made related to a hearing on financial protection for servicemembers, veterans and families, during which the association made claims counter the results of a 2022 study requested by the House of Representatives and released by the Department of Defense (DoD),” according to CUNA.
The DoD’s report states: “This report demonstrates that service members and their families are not limited in their options for access to financial services on-base, online, and off-base.”
In response, CUNA President/CEO Jim Nussle issued a statement saying, “It’s a shame that banks used this hearing to take a cheap shot at credit unions rather than focus on veterans and servicemembers. As the Department of Defense study released in 2022 clearly shows, servicemembers do not lack access to financial services on military installations. Rather than using the available option to leases on military bases at a nominal cost- banks choose not to exercise this authority.
“Their unwillingness to use steps currently available to banks in serving on military bases while testifying on the financial protection for veterans and servicemembers shows a clear disconnect in their commitment,” Nussle added.
As Winter Approaches, the Price for the Best Daily News Update in Credit Remains a Nice, Cozy Free!
The biggest, best and freshest news reporting in credit unions remains free! Each morning CUToday.info delivers its daily Fresh Today news update offering the latest headlines and breaking news right to your email, with the easy-to-read headlines format allowing you to click on the stories that interest you most in order to learn more. So stop paying those bank-fee-like subscription prices from other so-called “news” publications!
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties, and we will not be contacting you to sell you an extended warranty or sending you any links so you may cash in on an inheritance you didn’t know was coming.
And did we mention it’s free?