This past week the U.S. Supreme Court handed down a decision that changes the dynamic of credit union memberships, scaling back the definitions of who can join. As your coverage of the decision touched on, Congress wrote the original definitions for credit union boundaries, and it is Congress who will revisit the issue and redefine the role of credit unions in the American economy.
Unfortunately, your article skipped over an important question to credit unions members like me: What is going to happen to those of us already in credit unions who may not fit into the new definitions once they are drawn?Thanks to a KSL report, I have good news for your readers. Chris Cannon (who, unfortunately, is not my congressman) has written a bill to protect current members of credit unions from being forced out into the street where banks can rip us off, regardless of what eventually emerges from the greater debate. Thanks Congressman, wish I could vote for you without having to move.
Thought I'd share the good news with your readers.