Bynum Introduces Bipartisan Bill to Support Credit Union Members

August 13, 2026 Press Release WASHINGTON, D.C. – 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. Federal 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. There are more than 144 million Americans who are members of credit unions. “Hard-working families and business owners need more ways to make their money go further so that they can build a stronger financial future,” said Rep. Bynum. “That 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.” “Credit unions serve over 250,000 people right here in California’s 40th District. Yet outdated federal restrictions limit their ability to invest and deliver the competitive rates their members deserve,” said Rep. Kim (CA-40) . “That’s 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.” “To 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’s 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.” said Kathleen Coulombe, America’s Credit Unions Chief Advocacy Officer. “Expanding 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,” said GoWest Credit Union Association in a statement . “Because 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.” The Credit Union Investment Authorities Act would: Amend the Federal Credit Union Act to allow federally chartered credit unions. To purchase corporate bonds and invest in asset-backed securities. Allow Oregon credit unions to offer their members more affordable interest rates and better loan options. Ensure responsible investments by authorizing that no more than 10% of a credit union's capital may be invested in a single issuer. Directs National Credit Union Administration (NCUA) authority to develop rules governing investment decisions and provide key safeguards. The text of the bill is available HERE . Issues : Congress Costs & Jobs