NAFCU witness Purvis stresses importance of credit unions’ access to secondary market in Senate Banking hearing – CUInsight

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Coastal FCU’s Purvis to stress importance of CUs’ access to secondary market in hearing NAFCU witness Chuck Purvis, president and CEO of Coastal Federal Credit Union in Raleigh, N.C., today will emphasize during a Senate Banking Committee hearing the importance of ensuring that any housing finance reform plan preserve credit unions unfettered access to the secondary market, and under fair pricing conditions.

The National Association of Federally-Insured Credit Unions issued the following news release:. Charles Purvis, president and CEO of Coastal Federal Credit Union, will testify today on behalf of the National Association of Federally-Insured Credit Unions before a Senate Banking Committee hearing on housing finance reform.

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It’s different because the role of credit unions is not the same as banks and thrifts, even if the tools used are similar. Credit unions are a way for members to organize, control, and direct resources and meet the needs for which for-profit firms do not offer solutions or offer solutions on terms not in the consumer’s best interest.

Purvis will stress the importance of ensuring that any housing finance reform plan preserves credit unions’ unfettered access to the secondary market, along with fair pricing conditions.