Elizabeth Warren’s speech to the Credit Union National Association

A valuable role is played by credit unions
in our economy every day. A few years ago, I was reminded first hand about the real impact
of a credit union. My much-loved newly married niece had gotten into financial trouble. She
called in tears, she was frightened, and frankly, embarrassed by having fallen into a financial
trap. I said to her, ‘You have a credit union at work. Go see them. They will help you.’
And she and her husband did just that. This isn’t the place to go through the details,
but let me put it this way – that credit union will forever be an important and trusted member
of our family. Because that’s what credit unions can do. So that brings me to the heart of what I want
to say to you about the Consumer Financial Protection Bureau. Our mission is to make
the price clear up front, to make the risks clear up front, and to make it easy for customers
to be able to compare three or four products straight up. That’s our central mission. Clarity
is the norm here. Your work – creating a valued partnership with your members can be a real
competitive advantage – not a way for others to take your business. So I see the Consumer
Agency as an ally of credit unions.

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