U.S. Rep. Gwen Moore, D-Wis., is campaigning for re-election, but before Moore was in public office, she was heavily involved in the credit union community. Moore held a helping hand in chartering Cream City Community FCU by way of a $100,000 capitalization loan that she had helped advocate for.
In advance of Election Day, Moore took part in a brief Q&A with Credit Union Journal.
Credit Union Journal: Could you please detail your background with credit unions?
Moore.: I have a long history with credit unions and know first-hand how they can serve and transform a community. Redlining was very prevalent in Milwaukee when I was growing up. People in my neighborhood couldn’t get loans to buy homes and had very limited access to banking serves. The Civil Rights movement had fought for basic accommodations, but many of the tools necessary to build wealth, own homes and be part of the business and community life were still being denied to the black community. I took it upon myself to be the change and, as a VISTA volunteer, started a community credit union from scratch...Expanding access to capital for the black community has played a central role in my career in public service.
CUJ: How did your time serving on this committee influence your time in elected office?
Moore: I still feel strongly about the transformative impact that credit unions can have and how the model really encourages the best of banking services. Serving on the [House] Financial Services Committee has been tremendous on this front.
CUJ: What do you view as the biggest priorities moving forward in the next Congress for CUs? What do you view as the largest issues facing CUs right now?
Moore: We need to think creatively in serving our poor communities so that it is not just high-cost transaction centers in neighborhoods like mine. I have a bipartisan bill that would permit credit unions to serve communities that are “banking deserts.” In a world where there are more payday lenders than Starbucks, credit unions could fill that void and revitalize urban and rural communities across the country that are currently being neglected by big banks.
CUJ: What do you view as the largest issues facing CUs right now? How can Congress help mitigate these concerns and advance credit union interests when the legislature is polarized and focusing on other matters?
Moore: I believe Congress should encourage banks and credit unions to be fair financial intermediaries and to make loans that make home ownership and small businesses possible. In Congress, I have always sought to create a balance between the heavy hand of government and laissez faire policies. As we move forward into the 116th Congress, I think it is essential that we continue to work across the aisle to promote this balance so our communities have access to the resources they need to thrive.
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