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What's Your Best CU Lending Story?
Wednesday, September 19, 2018 7:00 AM

Cornerstone has heard rumblings that new legislation could be proposed to expand the Community Reinvestment Act (CRA) requirements to include credit unions. We want to be prepared to combat this proposal head on, so we're tapping into the power of the league system to funnel good credit union lending stories to CU Social Good—stories that show how credit unions are responsible lenders.

Will you join us in submitting your story?

"The Community Reinvestment Act was never intended for credit unions, due to their structural differences from other financial institutions," said Cornerstone Credit Union League President/CEO Caroline Willard. "We take seriously any rumblings about extending the CRA's reach. Congress excluded credit unions from CRA because of our not-for-profit cooperative structure, field of membership restrictions, and lack of history of discriminatory lending practices. As good actors in the financial marketplace, we know credit unions have great stories to tell, and we look forward to reading them."

Your best stories will be from credit union lending officers or credit union members who’ve received a credit union loan when they couldn’t get one from another financial institution. Stories will be accepted through Friday, Sept. 28.

Submitting Your Story Is Easy

  • Sign up at CU Social Good. Allow time for the CU Social Good admin to approve your request. (Contact sharestories@cusocialgood.com if you need assistance.)
  • Once notified that your credit union account is approved, submit your story on the website by selecting “Submit Stories.”
  • Log in with the information you established and upload your story document and a graphic (a photo or your logo).

While the most immediate need for stories on credit union lending will help combat any CRA arguments, these stories will have a long shelf life and will help us tell the credit union story for numerous advocacy purposes. Once everyone’s stories are uploaded into the system, credit unions will be able to tweet their story at their members of Congress, if and when any legislation is introduced, to show why credit unions shouldn’t be lumped into one-size-fits-all rules.