DC - Credit Union Act of 2019

The Council of the District of Columbia is working on a bill that would allow for District charters of Credit Unions. We guess that this push is in response to DC residents voicing frustration with Wall Street Banks and the Council is trying to figure out ways to answer these concerns. The Council studied public banking options, which we opposed, and is now asking for feedback on the possibility of District Credit Union charters. We have been asked to survey our DC credit unions to answer a few general questions.

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* 1. If the DC Credit Union Act and regulations were in a position that is substantially similar or slightly less restrictive than the Federal Credit Union Act and corresponding regulations, would you have any interest in possibly switching to a DC Charter?

Yes

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* 2. (In addition to Q1) Why or why not?

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* 3. What could the district do to make their charter more enticing to District credit unions? (Feel free to add anything that you would like us to relay to the Council)

DC - Credit Union Act of 2019