{"database": "press", "table": "releases", "rows": [["https://bynum.house.gov/media/press-releases/bynum-introduces-bipartisan-bill-support-credit-union-members", "Bynum Introduces Bipartisan Bill to Support Credit Union Members", "2026-08-13", "2026", "2026-08", "Democrat", "House", "OR", "Janelle S. Bynum", "B001326", "bynum.house.gov", "bynum", "https://bynum.house.gov/media/press-releases", "scraper", "WASHINGTON, D.C. \u2013 Today, Congresswoman Janelle Bynum (D-OR), and Congresswoman Young Kim (R-CA) introduced the bipartisan Credit Union Investment Authorities Act to provide federal credit unions more flexibility in how they invest their funds, enabling them to provide more competitive products and services for their members.\n\nFederal credit unions have narrow restrictions on where they can invest member deposits, largely confined to government securities and a limited range of other investment categories. A broader range of investment options, will enable credit unions to offer more competitive savings and loan products to their members.\n\nThere are more than 144 million Americans who are members of credit unions.\n\n\u201cHard-working families and business owners need more ways to make their money go further so that they can build a stronger financial future,\u201d said Rep. Bynum. \u201cThat starts with making sure that people have access to services that allow them to get more from the money they put in their accounts. Giving credit unions better investment options will help expand loan opportunities, make payments more manageable, and put more financial opportunity on the table for Americans.\u201d\n\n\u201cCredit unions serve over 250,000 people right here in California\u2019s 40th District. Yet outdated federal restrictions limit their ability to invest and deliver the competitive rates their members deserve,\u201d said Rep. Kim (CA-40). \u201cThat\u2019s why I am proud to introduce the bipartisan Credit Union Investment Authorities Act to modernize these rules so credit unions can diversify their portfolios and offer more affordable loans. This common-sense reform puts more money back in the pockets of hardworking Californians.\u201d\n\n\u201cTo continue operating safely and soundly while offering affordable financial products to their members, federal credit unions need laws that reflect the modern financial services landscape. Antiquated laws currently limit the investment options for credit unions. America\u2019s Credit Unions thanks Representatives Janelle Bynum and Young Kim for recognizing this disparity and introducing the Credit Union Investment Authority Act. Modernizing the Federal Credit Union Act will give credit unions much needed flexibility to diversify their investments, helping them manage their balance sheets, to maintain safety and soundness, and continue providing the most affordable financial services in the country. We will continue to advocate for modernized regulatory practices and hope Congress moves quickly to pass this legislation.\u201d said Kathleen Coulombe, America\u2019s Credit Unions Chief Advocacy Officer.\n\n\u201cExpanding investment opportunities for federally-chartered credit unions will produce lasting financial benefits for millions of members across Oregon and the entire six-state GoWest region,\u201d said GoWest Credit Union Association in a statement. \u201cBecause credit union members are also owners, stronger investment options directly support the financial well-being of the institutions they rely on. Allowing the sorts of investment opportunities available to other financial institutions, including state-chartered and corporate credit unions, will strengthen federal credit unions and increase the financial stability of their members and the communities they serve. On behalf of these members, we thank Rep. Bynum for her leadership in advancing this much-needed change to support the financial strength and security of credit union members, in Oregon and across the six-state GoWest region.\u201d\n\nThe Credit Union Investment Authorities Act would:\n\nAmend the Federal Credit Union Act to allow federally chartered credit unions. To purchase corporate bonds and invest in asset-backed securities.\n\nAllow Oregon credit unions to offer their members more affordable interest rates and better loan options.\n\nEnsure responsible investments by authorizing that no more than 10% of a credit union's capital may be invested in a single issuer.\n\nDirects National Credit Union Administration (NCUA) authority to develop rules governing investment decisions and provide key safeguards.", 1, "2026-08-14T06:13:05Z", "2026-08-14T06:14:08Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://bynum.house.gov/media/press-releases/bynum-introduces-bipartisan-bill-support-credit-union-members"], "units": {}, "query_ms": 2.4759029038250446, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}