League Senior Vice President David Miles and representatives from BayPort Credit Union accompanied business owners with MBLs from BayPort to speak with Sen. Webb’s aide, Charles Stanton, in Virginia Beach.
David reports: “In a meeting this morning with Senator Jim Webb’s regional representative,... More
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
Essential viewing! A well-done video from our friends at Park View Federal Credit Union, featuring interviews with the business owners they’ve aided in the past with MBLs, now can’t thanks to the MBL cap. Here it is: http://bit.ly/pvfcu_MBLs
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
Banks hoping Congress will extend the FDIC’s Transaction Guarantee Program are facing opposition from Sen. Bob Corker (R-Tenn.), who occupies a seat on the Senate Banking Committee. Corker penned an Aug. 2 letter to FDIC Chairman Martin Gruenberg that was critical of extending the temporary program... More