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NAFCU President and CEO Dan Berger Thursday met with NCUA Chairman Todd Harper to discuss how credit unions can get involved with the Greenhouse Gas Reduction (GHGR) Fund to support projects that reduce greenhouse gas emissions and air pollution in low-income and disadvantaged communities.

NAFCU Senior Vice President of Government Affairs Greg Mesack, Vice President of Regulatory Affairs Ann Petros, Credit Human CEO Steve Hennigan and Coastal Credit Union Chief Community and Public Affairs Officer Creighton Blackwell were in attendance during the meeting.  Inclusiv President and CEO Cathie Mahon also attended the meeting virtually. 

The group discussed the Environmental Protection Agency’s (EPA) decision to agree with NAFCU’s position on credit unions’ ability to receive money from the fund, declining to solely disburse funds through a green national bank.

In addition, Mesack and Petros met with representatives of the Coalition for Green Capital earlier this week to discuss credit unions’ desire to help their communities and be involved with the fund.

NAFCU has been an advocacy leader on this issue. The GHGR Fund was established under the Inflation Reduction Act of 2022 to provide grants for zero-emission technologies, and financial and technical assistance for projects to reduce greenhouse gas emissions and other air pollution. 

The association called on the EPA to allow credit unions to obtain funds through the GHGR Fund to support projects that reduce greenhouse gas emissions and air pollution in low-income and disadvantaged communities. In response to inaccurate and misleading comments regarding the EPA’s ability to distribute money from the fund to credit unions, Petros countered with a legal analysis that indicated otherwise.

NAFCU will continue to work closely with the NCUA, EPA, Congress and other stakeholders to ensure appropriate implementation of the fund and credit unions’ access to it for qualified projects.