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The Advocate Blog

Kaine to Speak at DNC Convention

U.S. Senate candidate Timothy M. Kaine will have a coveted speaking role at next month’s Democratic National Convention in Charlotte. Kaine, a former governor and Democratic National Committee chairman, is locked in one of the nation’s most competitive Senate races against George Allen, who’s fighting... 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 Credit Union League Endorses Tim Kaine for U.S. Senate

The Virginia Credit Union League, which represents 184 not-for-profit credit unions and the 3 million Virginians they serve, today announced its endorsement of former Virginia Gov. Tim Kaine in his bid for the U.S. Senate.

“Decisions made in Washington have a direct impact on credit unions’ ability... More

Credit Unions Thank Rep. Forbes for Recent Support

Credit union representatives were fortunate enough to catch up with Congressman Randy Forbes to thank him for his support on two key pieces of legislation.

HR 4367, which Forbes voted in favor, eliminates a frustrating regulatory burden for credit unions, namely the mandate that ATMs carry a... 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

Hampton Roads Hosts Legislators’ Night

Five state lawmakers gave 40 attendees of the Hampton Roads legislators’ night a glimpse of what it’s like in the General Assembly as they engaged in lively discussions with credit union representatives.

Attending the event were Senate Majority Leader Tommy Norment and Sen. John Miller, as well as... 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

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

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