That's why we remain active on the legislative side to ensure that your rights as a consumer are protected. For example, employees and volunteers of Truliant lobbied with members of other financial trade associations to endorse a bill that prohibits unfair predatory lending in North Carolina. The bill went into effect July 1, 2000 and it protects the equity that North Carolina homeowners have invested in their homes by banning the sale of up-front, single-premium insurance.

Some predatory lenders operate in unethical, and often illegal ways, pretending to help people obtain credit to consolidate bills or pay for things like home repairs, taxes or medical expenses. These lenders seek you out and try to trick you into taking out a loan against your home that you cannot afford to repay. They use high-pressure sales people, along with inflated interest rates, outrageous costs and unaffordable repayment terms. If you fall behind on payments, the lenders can take away your home through foreclosure. Once the damage is done, it is very hard to undo, and most people never get their homes back. As predatory lendors victimized more people, we fought to protect consumers by contacting local Representatives, asking them to support a law that prohibits these unfair practices.

Politcal Action Committee
As another means of protecting you, we established a bi-partisan Political Action Committee (PAC). As banks and trade groups continue to challenge your freedom to access credit unions, the PAC seeks to make inroads with members of Congress, reminding them that credit unions are pro-consumer. Proceeds raised by the PAC help support candidates who demonstrate support for credit union principles. Contributions made to the PAC are strictly voluntary, and are only used to promote government actions that protect the interests of credit union members. As your Credit Union, we will continue to be your consumer advocate and maintain a pro-active voice for you.