Vote Against Workers Credit Union Ch
Thu, 11/12/2020 - 8:22pm Heraldgroton
Workers Credit Union is planning to become a Federal Credit Union instead of a Massachusetts Chartered Credit Union. I have received notice of a Special Meeting November 24 to vote on this.
If you are a member of Workers Credit Union, please vote against this change. The real issue is carefully hidden in the details: WCU would be able to get out from under Massachusetts Community Reinvestment Act regulation. Massachusetts CRA is significantly more stringent than the national code and has helped thousands of low-income and minority families qualify for housing loans. If WCU becomes a Federal Credit Union it would no longer be covered by this regulation.
Pay no attention to any other argument. A vote for this change is a vote against one of Massachusetts’ proudest bulwarks against systemic racism. WCU is already one of the largest and most successful credit unions in Massachusetts. There is no reason to change a winning formula. Vote against the charter change!
Eric S. Fisher
Old Ayer Road
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