The Importance of Credit Unions

It is estimated that consumers are 1.5 times more likely to report feeling their credit union cares about their financial well-being than for-profit financial institutions. 
Credit unions, or not-for-profit financial cooperatives, have unique structural differences that allow them to pass profits onto their member-depositors in the form of lower loan interest rates, higher yields on savings, and fewer or lower fees. With historically high interest rates deeply impacting household budgets and consumers’ wallets, credit unions represent a small but impactful part of the financial ecosystem in the United States. 
Carrie Hunt is the Chief Advocacy Officer of America’s Credit Unions, the new national trade association being formed through the merger of the Credit Union National Association (Credit Union National Association) and the National Association of Federally-Insured Credit Unions (NAFCU). 
Carrie joins The SCORE to discuss how credit unions help make the financial services system more efficient, effective, and accessible to consumers.  Listen in to learn more.