Defense Credit Unions Are Well Positioned to Respond to Financial Inclusion Efforts
Tuesday, August 20, 2019
WASHINGTON, DC (August 20, 2019) — The 56th Annual Defense Credit Union Council Conference held in the vibrant city of Chicago provided attendees the opportunity to grow professionally and focus on issues impacting our Defense Credit Unions.
On Tuesday morning, Anthony Hernandez, President and CEO, DCUC, and The National Credit Union Administration (NCUA) Chairman Rodney E. Hood discussed financial inclusion and diversity to address the lack of access to safe, reliable, and affordable financial services and how credit unions are well-positioned to meet these specific needs.
To be clear “diversity and inclusion” is not only about minority communities, it’s about extending financial access to all Americans, recognizing dividing lines including geographic areas, among other areas. The withdrawal of financial institutions from rural communities jeopardizes the strength of local economies. This is a need that credit unions already fill and are well-equipped to address in the future.
During the session Chairman Hood stated, “there are a lot of innovations that defense credit unions have pioneered to better serve members in far-flung postings around the world. Those innovations might help us to get a better sense of how to target services to rural communities or other hard to reach places.”
Chairman Hood also noted that credit unions have the ability to foster greater financial inclusion, accessibility, and opportunities for all Americans.
“We are honored to have NCUA Chairman Hood address our delegates. It is so important to keep open lines of communication and hear the Chairman’s viewpoint on the future of credit unions, the challenges and the Chairman’s focuses, specifically on diversity and inclusion. These are at the heart of defense credit unions, and we look forward to supporting this shared mission,” said Anthony Hernandez, DCUC President and CEO.