NCUA headquarters. (Source: NCUA)
The NCUA announced a new financial inclusion commitment for the agency and the entire credit union industry this week.
NCUA Chairman Rodney Hood unveiled the new plan on Monday, called the Advancing Communities through Credit, Education, Stability and Support, or ACCESS, initiative.
According to a statement from the NCUA, the ACCESS initiative will bring together leaders from inside the agency "to refresh and modernize regulations, policies and programs in support of greater financial inclusion within the agency and the credit union system."
"As chairman, I have consistently characterized financial inclusion as the civil rights issue of the 21st century," Hood said. "There is a clear business case for credit unions to enhance their outreach to underserved and underbanked populations. The NCUA will dedicate resources from across its lines of business to bring more Americans into the financial mainstream and provide them with greater access to safe and affordable financial services."
Efforts under this program include increasing access to credit and loan products, dedicating resources to help people make smart financial decisions, enhancing existing programs that encourage credit union membership and access to financial services, and fostering inclusive policies and outreach efforts in the community, the statement said.
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