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The Advocate Blog

Senate CU MBL Bill Gets CFA Backing

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

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

ICBA Targets Credit Union Tax Exemption, MBL Cap in 2012 Priorities

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

We’re Starting the GAC with a Mini-Hike the Hill

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

Get Your Federal Briefing Material Here!

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

Credit Unions Volunteer on Election Campaigns

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

CU Advocates Tell Senate Banking Aides the Time Is Now To Support MBL Bill

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, CUs Push for MBL Support on House Side; Congressmen Generally Supportive of Fair Exams Bill

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

Credit Union Member Business Lending Legislation Dominates Conversation at Congressional Luncheon

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.

This... More

Push for Raising MBL Cap Continues; League, CUs Meet With Webb Aide

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, CUs Meet With Warner Aide in Campaign to Raise MBL Cap

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

Radio Spot in Support of Raising MBL Cap Running in State Markets

In case you haven’t yet heard it, here’s the radio spot (mp3, 960kb) we’re sponsoring in partnership with CUNA in support of raising the MBL cap! Understanding the importance of the fight for MBLs, your League Board set aside $50,000 to help pay for advertising in support of the MBL... More

Must See on YouTube: Park View’s Video in Support of SB 2231

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

Washington Post, NPR, WTOP: Biz Lending Stymied by Limits

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

Gov. Kaine Tells League, CUs He’d Support Raising MBL Cap

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 Reps Off to Washington to See Sen. Warner, Rep. Hurt

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

NCUA Streamlines LICU Eligibility to Help Credit Access

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.

Formal... More

MBL Caps Slow Biz2Credit’s Credit Union Loan Approvals

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

Corker Expresses Opposition to TAG Extension; Could Derail MBL Strategy

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

Virginia Hikes the Hill in End of Session Effort To Move MBL Legislation

Virginia hikes the hill 1

Credit Union representatives from Martinsville DuPont Credit Union visit with Rep. Morgan Griffith (pictured second from left) to... More

CUNA Action Call urges CUs to Oppose TAG Bill

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

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