Ed Royce: “since their establishment in the early 1990s, credit unions have played a critical role in our economy by providing…”

“since their establishment in the early 1990s, credit unions have played a critical role in our economy by providing their members with a source of affordable credit. The value of credit unions is evidenced by the millions of American consumers who have selected them as their financial institution of choice. This ability to choose was recently challenged by a narrow 5-4 Supreme Court decision, which jeopardizes the current membership status of millions of credit union members, and the right of all consumers to choose their financial institution. I am committed to preserve and protect this right, which is why I am a cosponsor of H.R. 1151, the ``Credit Union Membership Access Act.'' I am pleased that this legislation was favorably reported out of the Banking Committee, of which I am a member, on March 26, 1998. I continue to support this legislation and urge my colleagues to vote for financial passage of H.R. 1151 when it is considered by the House of Representatives today.”