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.
“Credit union membership grew by at least 2.4 million in 2012–the greatest membership growth in 15 years,” said CUNA President/CEO Bill Cheney. “These two key pieces of legislation represent tools that will give credit unions greater options for serving their growing memberships–including small business owners in search of credit to keep their businesses and their communities thriving.” [read more]
> You can take action on these bills here, encouraging your Congressman to sign on as a co-sponsor.