HAPI Can Turn To CUs For Financial Literacy Efforts

Published June 18, 2007, 1:00 a.m. EDT

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Updated August 27, 2020, 1:49 a.m. EDT

1 Min Read

AUSTIN, Texas. - NCUA Vice Chairman Rodney E. Hood told the Hispanic Alliance for Progress Institute (HAPI) credit unions are an excellent means to the financial education ends being championed by the group. He told the group currently, "1,000 credit unions offer alternatives to payday loans and almost all military-affiliated credit unions offer alternatives to payday lending."

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Emphasizing the importance of financial education and knowing what options are available, Hood highlighted the differences between "mainstream lenders" and "fringe lenders," and referenced NeighborWorks America's new Foreclosure Prevention initiative as one of many resources available to assist in foreclosure prevention and to help families sustain their dreams of homeownership.

Following the roundtable discussion, Hood met with Texas Attorney General Greg Abbott and Leslie Pettijohn, the Texas Consumer Credit commissioner.

For info: www.ncua.gov/Publications/ brochures/PredatoryLending/PredatoryLendingBrochure.pdf.

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