WASHNGTON—Congress has passed the credit union-supported 21st Century ROAD to Housing Act, which includes Credit Union Board Modernization Act. Proponents say the comprehensive package, which has bipartisan support, will increase housing supply, expand affordability, and remove barriers to homeownership.
“Credit unions witness the housing affordability crisis firsthand, especially among military communities who face frequent relocations, deployments, and unique financial challenges,” DCUC President and CEO Anthony Hernandez said in a statement. “We applaud Congress for advancing meaningful, bipartisan solutions that address housing supply, expand financing opportunities, and help more Americans achieve the dream of homeownership.”
Added DCUC’s chief advocacy officer, Jason Stverak, in a statement, “The overwhelming bipartisan support for this legislation demonstrates that housing affordability is an issue that rises above politics,” adds Jason Stverak, DCUC Chief Advocacy Officer, in a statement, “We commend leaders in both the House and Senate for working together to move this legislation across the finish line. Credit unions remain committed to helping members and communities nationwide build financial stability through affordable homeownership, and we look forward to President Trump’s signature so these important reforms can begin making a difference across the country.”
America’s Credit Unions Hails Passage
America’s Credit Unions also praised passage of the bill.
“With the House’s vote of approval on this housing package, the Credit Union Board Modernization Act is now set to become law. We applaud House Financial Services Chairman French Hill and Ranking Member Maxine Waters for championing this legislation through housing negotiations and understanding the importance of providing relief and flexibility to institutions to support affordable housing,” ACU President and CEO Scott Sullivan said in a statement. “We urge the President to quickly sign this important legislation into law.”
The Credit Union Board Modernization Act, which reduces the amount of times boards at federal credit unions must meet annually.
