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June 01, 2018 • 
  • News

SAFE Credit Union applauds passage of the Economic Growth, Regulatory Relief, and Consumer Protection Act

SAFE Credit Union is pleased that the Economic Growth, Regulatory Relief, and Consumer Protection Act has passed.

This important piece of legislation allows credit unions like SAFE to better serve its members by eliminating onerous regulations designed to rein in big banks after the 2008 financial downturn. SAFE has always championed and practiced sound, ethical financial business practices and weathered the downturn without depending on government bailouts.

Provisions in the act that will directly benefit SAFE’s members include streamlining the mortgage application process; providing greater opportunity to report suspected elder financial abuse; and bolstering protection for our members’ personal information.

SAFE Credit Union especially appreciates important provisions that help military personnel and veterans obtain home loans and stay in those homes.

“SAFE understands that protecting our members’ financial well-being has always been our No. 1 priority,” said SAFE Credit Union President and CEO David Roughton. “The act provides common-sense changes that will allow us to continue to provide the quality, member-focused service SAFE is known for.”

SAFE Credit Union joined a delegation of more than 5,000 credit union leaders who talked with legislators about the importance of passing the bill during the Credit Union National Association’s Governmental Affairs Conference.

The passage of “S. 2155 brings a successful end to one of the most comprehensive, historic advocacy efforts the credit union system has seen in quite some time,” said CUNA President/CEO Jim Nussle. “From the moment the text of the bill was released by a group of bipartisan Senators, credit unions made their voices heard wherever possible, resulting in significant regulatory relief for credit unions and 110 million Americans.”

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