MDI Credit Unions’ strong performance benefits members and communities
ALEXANDRIA, VA (July 6, 2023) — Minority depository institution credit unions experienced growth in membership, assets, and loans in 2022, expanding access to financial services for their members and communities.
“Minority depository institutions are an essential component of the credit union system, providing access to safe, fair, and affordable financial products and services within under-resourced communities,” NCUA Chairman Todd M. Harper said. “MDIs during 2022 showed us just how essential they are. Not only did they give millions of Americans the chance to build better and more secure financial futures, their performance metrics in several categories were stronger than the credit union system overall.”
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About National Credit Union Administration (NCUA)
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 135 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.
