WASHINGTON — If more people  adopted the credit union philosophy to other aspects of life the country would be a much better place, Rep. Tim Scott (R-S.C.)  told attendees at NAFCU's Congressional Caucus on Wednesday.

“The idea that every member owns the credit union is a great thing. When you own it, you've got skin in the game,'' said Scott, a former volunteer at the $345 million Heritage Trust FCU in Charleston, S.C.

“America would be a better place if everyone were more engaged and realize 'this is my country,''' he added.

Scott, a freshman and one of only two black Republicans in the House, said he supported giving credit unions the right to make more business loans because “you've done a great job of analyzing your loan applications which is why you have a lower delinquency rate than banks.

He praised his credit union for taking a chance on him when it gave him a student loan.

“My credit union taught me that I had to pay the money back, it was a loan, not a grant,' 'he quipped.

He also said he was frustrated by the lack of comity between Democrats and Republicans in Washington “We should disagree without being disagreeable,'' he said.