The Capital Access for Small Community Financial Institutions Act () is a bill introduced in the U.S. Congress that would enable credit unions that are privately insured to become members in the Federal Home Loan Bank (FHLB) system. In March 2014, the bill was approved by the House Financial Services Committee by a unanimous vote of 55-0. The legislation amends parts of the Federal Home Loan Bank Act. Under current U.S. law, only credit unions that are federally insured can join the FHLB system. Purpose The intent of the bill is to improve the U.S. housing market by reducing regulatory requirements to community credit unions. Some privately insured credit unions that serve public servants and small businesses have not been allowed to apply to the FHLB system Background As of 2014, approximately 132 small credit unions, located among nine states, are insured by a mutual insurance company instead of the federal government. Although federal government insurance for credit unions began in 1970, some small credit unions remained privately insured. Cosponsors Congresswoman Joyce Beatty and Congressman Andre Carson are cosponsors of the legislation. Support Organizations that have said they support the bill include: National Association of Federal Credit Unions National Association of State Credit Union Supervisors Opposition Some Democratic members of the Financial Services Committee and the National Credit Union Administration oppose the bill. See also Credit unions in the United States Federal Home Loan Bank Act List of bills in the 113th United States Congress References United States federal banking legislation Proposed legislation of the 113th United States Congress