[Congressional Record Volume 170, Number 24 (Friday, February 9, 2024)]
[Extensions of Remarks]
[Page E130]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]





                  RECOGNIZING AMERICA'S CREDIT UNIONS

                                 ______
                                 

                            HON. KEN CALVERT

                             of california

                    in the house of representatives

                        Friday, February 9, 2024

  Mr. CALVERT. Mr. Speaker, I rise to recognize the importance of 
credit unions in the competitive financial services marketplace. I 
especially appreciate the 263 credit unions and their 14 million 
members in my state of California.
  The country's two storied trade associations, the Credit Union 
National Association and the National Association of Federally-Insured 
Credit Unions are now merged into a new organization called ``America's 
Credit Unions.''
  As a long-time credit union member and supporter, I appreciate the 
difference between credit unions and banks. Credit unions are not-for-
profit financial cooperatives that are democratically controlled.
  Every member, regardless of how much they have in savings or loans at 
a credit union, has an equal voice and vote in the governance of their 
credit union. There are no outside stockholders and no motive for the 
credit union's leadership to gouge the membership or provide poor 
member service.
  In fact, credit unions consistently rank as the most popular form of 
depository institutions in America. So today I congratulate the 
unification of the two national credit union advocacy organizations and 
I expect great things to come from this newly-minted trade organization 
called ``America's Credit Unions.''

                          ____________________