[Congressional Record Volume 170, Number 33 (Friday, February 23, 2024)]
[Extensions of Remarks]
[Page E172]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        CONGRATULATING THE FORMATION OF AMERICA'S CREDIT UNIONS

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                       HON. BRIAN K. FITZPATRICK

                            of pennsylvania

                    in the house of representatives

                       Friday, February 23, 2024

  Mr. FITZPATRICK. Mr. Speaker, I rise today to recognize the 
importance of credit unions in thc financial services marketplace. In 
Pennsylvania alone, there are 315 active credit unions, representing 
over 4.9 million members.
  America's two national-level credit union trade associations, the 
Credit Union National Association and the National Association of 
Federally Insured Credit Unions, recently 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. Credit unions also have no outside shareholders, allowing 
these institutions to act purely in the interest of members and provide 
outstanding member services.
  For these reasons, credit unions consistently rank as the most 
popular form of depository institution in America. I congratulate the 
formation of America's Credit Unions, now the largest credit union 
trade association in the United States, and I expect great things to 
come from this new organization.

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