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Association Responds to Inaccurate WSJ Op-ed on Credit Unions

MD|DC Credit Union Association CEO John Bratsakis wrote to members of the Maryland and DC congressional delegations in response to an inaccurate op-ed published in the Wall Street Journal.

US Capitol Dome

Bratsakis notes, “credit unions are member-owned, not-for-profit financial cooperatives dedicated to improving the financial well-being of members and the communities they serve,” while the op-ed attacking credit unions is “misleading and inaccurate.”

He also pushed back on the claim that CUNA and League member Congressional Federal Credit Union has moved away from its mission, noting Congressional Federal Credit Union, “takes a deliberate and responsible approach to fulfilling its mission.

Last year, the credit union expanded its charter to encompass an underserved area of Washington, DC. The initiative is a natural extension of Congressional FCU’s commitment to offering affordable financial services that are accessible to its community,” the letter reads.

CUNA President/CEO Jim Nussle and NAFCU President/CEO Dan Berger published a response in the Wall Street Journal last week.

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