Legislation that would exempt certain housing loans from the member business lending cap will be introduced this week, Rep. Ed Royce (R-Calif.) told 2014 Credit Union National Association Governmental Affairs Conference attendees this morning. The bill, known as the Credit Union Residential Loan Parity... More
The Small Business Lending Enhancement Act (S. 968) would "expand access to affordable credit for small businesses and help strengthen local marketplaces that serve consumers well," the Consumer Federation of America (CFA) said in a letter to Sen. Mark Udall (D-Colo.).
S. 968, which was introduced... More
Sen. Warner, House Majority Leader Cantor & Other Delegation Members Address CU Advocates at Congressional Luncheon
More than 120 credit union advocates from around the Commonwealth converged in Washington Wednesday for the League’s annual Congressional Luncheon.
Most of Virginia’s delegation members attended the event, although two attendees … Reps. Bobby Scott (D-3) and Jim Moran (D-8) …... More
Your League’s Karin Sherbin wrapped up two days of visiting with legislative aides in every single office of our Virginia delegation.
Thanks to Gary Tucker of Eastman Credit Union and David Woodruff, formerly of Commonwealth One and still a Wittman constituent, for attending the meetings with... More
Senate Majority Leader Reid Pledges Vote on MBL; Contact Sens. Webb and Warner and Urge Their Support
U.S. Senate majority leader Harry Reid (D-Nev.) and Sen. Mark Udall (D-Colo.) both spoke in the Senate floor Thursday in favor of legislation to increase the credit union member business lending (MBL) cap.
Reid indicated that he has been working with Udall to attach the MBL bill to a pending small business... More
Credit unions still stick in the craw of community banks, based on the priorities for the coming year the Independent Community Bankers of America announced Tuesday at its annual convention in Nashville, Tenn. One of its seven priorities is titled “Stop Unfair Tax-Exempt Credit Union Power Grab,”... More
The Credit Union National Association’s Governmental Affairs Committee starts full-blown today, and your League and credit union advocates are taking advantage of a day in Washington to visit legislative aides to brief them on our issues before Wednesday’s Congressional Luncheon (and before the bankers... More
Going to the Congressional Luncheon, or just want to stay on top of everything? You can get a summary of our federal issues at the League’s governmental affairs web page. Click here: http://www.vacul.org/advocacy/gov_affairs/index.php and then click on the link for federal issues under Congressional... More
It’s true that we can’t outgive the bankers when it comes to supporting political campaigns; they’re quite good at putting their deep pockets to work!
But one of the many ways we do shine in helping our political friends is by volunteering our time and talents for their campaigns. Belvoir Federal... More
Credit union advocates beat the bankers to the punch by talking to legislative aides Monday before bankers do their own Hike the Hill today where they will spend just as much energy lobbying against credit unions as they will tending to their own garden.
There’s a glimmer of optimism around S. 509,... More
League representative Karin Sherbin continued the mini-hike on the House side, joined by Board member Stan Leicester of BayPort at the meeting with the banking aide of his own Congressman, Rob Wittman. BayPort does MBL, and Leicester talked of demand and how some of their members were unable to get capital... More
House Majority Leader Eric Cantor (pictured left) greets longtime campaign volunteer Bill Dawson, of Henrico Federal Credit Union. Though Congressman Cantor continues to say he is a fan of credit unions, he declined to add a key credit union member business lending measures to his recent JOBS Act.
League Director of Governmental Affairs Karin Sherbin submitted the following report of a meeting in Roanoke with an aide to Sen. Warner, Drew Densmore, who noted that on Tuesday he met with a Martinsville DuPont Credit Union representative, while another Warner aide met with staff from DuPont Community... More
Credit unions’ small business lending efforts received recognition in three separate features in prominent Washington,D.C. media, including National Public Radio (NPR); theWashington Post’s weekly business journal, Capital Business; and WTOP. They told how the... More
Representatives from the League and credit unions met with Gov. Tim Kaine in Richmond on Tuesday to discuss key credit union issues.
The highlight of the meeting was Gov. Kaine’s support for raising the member business cap, noting that he considered it a small business and credit availability issue.... More
Credit union representatives will meet with Sen. Warner and Rep. Hurt July 25 to urge their support of legislation that would raise the cap on member business lending.
Both lawmakers are key to our efforts: Warner sits on the Senate Banking Committee and Hurt is a member of the House Financial Services... More
The NCUA has notified more than 1,000 credit unions this week – including 36 here in Virginia – that they are eligible to be designated as a Low-Income Credit Union (LICU), because 50.1% of its membership is domiciled in areas meeting defined low-income criteria, based on 2010 census data.
Sadly, the cap on credit union member business lending is having a negative impact on credit unions’ ability to aid small business.
This was reported in Credit Union Times and CUNA’s NewsNow this week…
Of the more than 1,000 small businesses that applied for funding... More
Former Gov. Tim Kaine promised that credit unions wouldn’t be forgotten when he’s weighing legislation related to financial services in the U.S. Senate. Thirty attendees from credit unions as far away as Martinsville and Fairfax, as well as CUNA and League staff, and a lobbyist... More
WASHINGTON (UPDATED: 4:00 P.M. ET, 12/6/12)–In a new call to action, the Credit Union National Association (CUNA) is encouraging its member credit unions and leagues across the country to contact and urge their senators to oppose legislation that would extend for banks the Transaction Account Guarantee... More
Two key pieces of legislation that would enhance the credit union charter were introduced in the U.S. House last Thursday: One bill (H.R. 688) would address the credit union member business lending (MBL) cap, and another (H.R. 719) would improve credit unions’ access to secondary capital.
WASHINGTON (UPDATED: 2/14/13, 12:15 p.m. ET)--Rep. Ed Royce (R-Calif.) today reintroduced legislation (H.R. 688) that would increase the credit union member business lending (MBL) cap to 27.5% of assets, from the current 12.25%-of-assets level, and the Credit Union National Association in a letter thanked... More