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News Now

Washington
House resolution salutes 75 years of FCU Act
WASHINGTON (6/22/09)--Praising credit unions for exemplifying the “American values of thrift, self help, and volunteerism,” a trio of house Democrats this week introduced a resolution celebrating the 75th anniversary of the enactment of the Federal Credit Union Act. The resolution, which was co-signed by Reps. John Larson (D-Ct.), Paul Kanjorski (D-Pa.) and Jim Himes (D-Ct.), cited the “instrumental role” that credit unions played in helping Americans recover following the great depression as well as the valuable service that credit unions continue to provide in the face of today’s economic challenges. The resolution, which is currently in the House Committee on Financial Services, also supported credit unions for their continued commitment to the core philosophy of “people helping people.” This Friday, June 26, will mark 75 years from the date that President Franklin Roosevelt signed the Federal Credit Union Act, which enabled credit unions nationwide to organize under a federal charter.
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