Aguilar hopes to work on legislation to make credit unions stronger

Having been in Congress for more than a decade and risen to a leadership position, Rep. Pete Aguilar, D-Calif., still hasn’t forgotten the lessons credit unions taught him. 

Aguilar, chair of the House Democratic Caucus and a former credit union employee, told the Governmental Affairs Conference Wednesday that credit unions continue to shape him.

“I’ve carried those lessons throughout my time in public life. Lessons about fighting for the little guy and giving working people the financial services and options they need to support their own economic mobility,” he said. “The mission of credit unions has never been more important than it is today.”

Aguilar said November’s election showed, among many things, that people are tired of businesses “always looking for an extra buck, and not looking out for them,” but credit unions as not-for-profit financial cooperatives, operate differently.

“You always put the needs of your members first. You’re not prioritizing shareholder dividends; you’re prioritizing your members, and you're prioritizing the community in which you live. As a financial institution, you lead by example and put people first,” he said. “And you should have the same flexibility that other financial institutions do in how they lend money. We need a level playing field for credit unions so you can offer the services and continue to provide the level of service they are accustomed to… It’s my hope we can work together to cut through the noise and pass legislation to make credit unions stronger.”

heelo