PORTLAND, Maine (6/10/13)--A credit union supporter in the Maine State Senate, who often touted the support he received from his credit union when he started a small business, has been appointed regional administrator of the New England Office of the U.S. Small Business Administration, said the Maine Credit Union League.
State Sen. Seth Goodall was appointed by SBA Administrator Karen Mills and will oversee SBA programs and state offices in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont. Now in his third term, Goodall was Senate Majority Leader in the 126th Main Legislature, said the league (Weekly Update June 7).
"Although we lose a great friend in the Maine Senate," said league President John Murphy, "I believe that the appointment...is an outstanding choice that, long-term, will serve credit unions and small businesses well."
Murphy said he wrote a reference letter on Goodall's behalf. In it, he cited Goodall's strong support of credit unions. "Senator Goodall has always been extremely responsive to credit unions and the small businesses we serve across Maine, and he frequently notes the assistance and support he received from his local credit union when his business was just starting out and how appreciative he is of that support. Sen. Goodall has been a good friend of Maine's credit unions."
Goodall will resign when the current legislative session adjourns later this month.
The appointment comes as credit unions are trying to raise their member business lending (MBL) cap in Congress so they can offer more MBLs to help small businesses and the economy. Raising the cap to 27.5% of assets from 12.25% would help generate $13 billion in new loans to small businesses and help create 140,000 new jobs, without costing taxpayers a dime, says the Credit Union National Association.