NCUA Chairman: Defense credit unions ‘positioned to lead the way’ on financial inclusion

Defense credit unions are well-positioned to lead the way on improving access to affordable financial services in underserved communities, National Credit Union Administration Board Chairman Rodney E. Hood said today.

“There are a lot of innovations that defense credit unions have pioneered to better serve members in far-flung postings around the world,” Chairman Hood said. “Those innovations might help us to get a better sense of how to target services to rural communities or other hard-to-reach places. I think the industry as a whole can learn a great deal from defense credit unions that have effectively met the challenges of diverse and highly mobile populations and those that have had limited interaction with traditional financial service providers.”

Chairman Hood spoke before the Defense Credit Union Council’s Annual Meeting in Chicago. During his remarks, he also discussed the importance of financial inclusion calling it the “defining civil rights issue of our time.”

To read the full story.

Source: NCUA