Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Calif. league CEO urges lifting MBL cap in article
ONTARIO, Calif. (12/16/09)--Bill Cheney, president/CEO of the California Credit Union League, recently told a California newspaper credit unions’ member business lending caps should be lifted so they can help small businesses. Credit unions cannot lend more than 12.25% of their assets. The California league participated in a congressional lobbying effort urging lawmakers to approve proposed legislation that would raise the caps (The Inland Valley Daily Bulletin Dec. 10). The effort was part of the Credit Union National Association’s national Hike the Hill visits by credit unions to their congressional delegates. By lifting the cap, “we conservatively estimate that this can create 108,000 jobs nationally (the first year) without any cost to the taxpayer,” Cheney told the newspaper. He added: “We’re getting a lot of positive response from lawmakers.” Many banks are not lending to small businesses, which Cheney said he isn’t criticizing. However, he pointed out that there should be other alternatives to help businesses. Arrowhead CU, San Bernardino, Calif., has run up against its business loan cap. Raising the caps could increase the credit union’s business lending from $100 million to $200 million, said Jon Parks, Arrowhead CU vice president of business development.
Other Resources

RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
12 24 ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
12 23 ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
12 23 ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
12 23 ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
12 23 ago