Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
MoDOT Resolution wont change highway CUs plight
JEFFERSON CITY, Mo. (5/3/10)--The Missouri Department of Transportation (MoDOT) does not believe that a vote by the Missouri House changes the plight of 10 credit unions told to vacate the MoDOT offices within two years because of budgetary considerations. Missouri’s highway credit unions received a vote of support from state representatives last week. House members passed HCR 70 by a vote of 157-0 on April 26. The resolution states that 10 highway credit unions should remain in MoDOT facilities despite MoDOT’s intent to sever ties with the credit unions (The Missouri difference April 30). The bill supporting credit unions was sponsored by State Rep. Mike Cunningham (R-145), and 35 bill co-sponsors. On the Senate side, Sen. Wes Shoemyer (D-18) introduced an amendment to a separate piece of legislation-- H.B. 2111--that would have allowed credit unions to remain in MoDOT facilities. However, the amendment failed by a voice vote. HCR 70 now goes to the Missouri Senate. “A resolution does not have the force of law,” Roberta Broeker, MoDOT chief financial officer, told News Now. “It’s a statement of desire or passion. It’s just the legislature telling us that they would like us to consider their thoughts and intentions. “And we did,” she continued. “We did take into consideration the input of credit unions separating from MoDOT. Originally, they were to leave on Sept. 30, and we extended that date to Dec. 31, 2012. So we took action to allow the credit unions an additional two years and three months to find a new physical space.” The credit unions were originally told Jan. 21 that they would be required to vacate their locations by Sept. 30. They would no longer be able to process payroll and benefits through MoDOT after that date. Credit union employees were on MoDOT’s salary and benefits plan but credit unions fully reimbursed MoDOT for those costs, the Missouri Credit Union Association said (News Now April 20).


RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
21 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
22 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
1 Day ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
1 Day ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
1 Day ago