Login to View Full Member Content:

Park View FCU Honored for Efforts to Aid Local Small Businesses, Create Jobs

Feb 6, 2013 by Lewis Wood

Park View Federal Credit Union won a 1st Place Award in the Louise Herring Award for Philosophy in Action competition. Park View was honored for its efforts in aiding small business owners. The credit union launched an advocacy initiative designed to educate its members and its community about job creation legislation in Congress that would empower credit unions to increase lending to small businesses, spurring job growth.

Park View Federal Credit Union won a 1st Place Award in the Louise Herring Award for Philosophy in Action competition. The competition honors credit unions for their practical application of the “People-Helping-People” philosophy that is the hallmark of the credit union movement. It is sponsored by the Virginia Credit Union League and the Credit Union National Association (CUNA).

Park View was honored for its efforts in aiding small business owners. The credit union launched an advocacy initiative designed to educate its members and its community about job creation legislation in Congress that would empower credit unions to increase lending to small businesses, spurring job growth.

One of hundreds of credit unions nationwide that have bumped up against an arbitrary cap on loans made to members for business purposes, Park View viewed the cap as jobs-killing regulation and a detriment to its community.

It organized staff and members to write Virginia's Congressional delegation in support of legislation that would have raised the cap on member business lending. Credit union representatives created a video in which members with small businesses detailed how loans from the credit union helped them grow their business and create jobs. Staff and members of the credit union's Board of Directors also participated in lobbying visits to Washington and in district-level visits with Rep. Bob Goodlatte and aides to Sen. Mark Warner in hopes of drumming up support for the legislation.

"Credit unions' greatest strength lies in our cooperative structure," says credit union CEO John Beiler. "We put that cooperative strength to good use by encouraging members and staff to contact lawmakers in support of legislation that would directly and immediately benefit our communities by providing credit to small businesses."

Credit unions continue to fight for this legislation and await introduction of a new member business lending bill in the recently convened 113th session of Congress.

Founded in 1969 and based in Harrisonburg, Park View Federal Credit Union today boasts $122.5 million in assets and more than 8,600 members.  Learn about the credit union online:www.pvfcu.org.

The competition is named after Louise McCarren Herring, a credit union pioneer, who believed that the operational application of credit union philosophy helped better people's lives.

Comments

Add New Comment

Please Log in to comment.