A meeting with U.S. Assistant Attorney General Kristen Clarke is part of America’s Credit Unions’ ongoing effort to build even stronger policymaker relationships. The advocacy team met with Clarke Wednesday in the wake of the Department of Justice’s (DOJ) announced consent order against Citadel Credit Union earlier this month.

The team shared data highlighting credit unions continued efforts in serving communities left behind by banks, noting:

• Credit unions opened more than 2,000 branches since 2020, while banks closed 8,600 branches over the same time period;
• A Philadelphia Federal Reserve study found credit unions  “cured” 36% of banking deserts in the past four years by opening a branch, despite credit unions having only 20% of total financial institution branches; and 
• Credit union members are two and a half times more likely than bank customers to trust their financial institution and believe they have easy access to affordable loans. 

Clarke previously spoke about her work combating discrimination in housing at the Governmental Affairs Conference earlier this year. 

During the meeting, America’s Credit Unions also encouraged further engagement and interaction between the organization, Leagues, and the DOJ.