Hood Shares Strategies for
Serving the Underserved at Iowa Summit
Alexandria, Va., March 29, 2006 –- NCUA Vice Chairman Rodney Hood told a group of 100 credit union leaders March 28, 2006, in Des Moines attending the Iowa Credit Union Foundation Summit that lifting the rate of home ownership for the underserved has never been more important.
"Owning a home is the foundation of wealth for low-income families and is their quickest path to self-sufficiency," Vice Chairman Hood said.
Hood also told summit participants that serving the underserved requires credit unions to become more results focused; create strategic partnerships with community stakeholders; and conduct outreach programs to connect with members in underserved communities. He also discussed the importance of permitting "credit unions to serve the underserved and facilitate credit union service for communities as allowed under the regulatory and statutory authority."
Vice Chairman Hood thanked the Iowa Credit Union Foundation for hosting the summit and for taking a proactive stance in equipping Iowa's credit unions with the resources they need for reaching underserved communities.
The National Credit Union Administration is the federal agency that charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund, insuring the accounts of nearly 85 million account holders in all federal credit unions and the majority of state-chartered credit unions. NCUA’s operation is funded by credit unions, not federal tax dollars. |
