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News Now

CU System
Ohio league CUs support public funds bill
DUBLIN, Ohio (12/8/09)--The Ohio Credit Union League and Ohio credit unions are meeting with state legislators to generate support for legislation that would allow Ohio credit unions to become eligible depositories for public funds. The bill, H.B. 317, is jointly sponsored by Ohio Majority Floor Leader Tracy Maxwell Heard (D-Columbus) and State Rep. Peter Ujvagi (D-Toledo) and 20 co-sponsors (eLumination Dec. 4). The bill would include credit unions as eligible depositories for state, communities, schools and other public entities. Under the bill, credit unions also could participate in the Ohio Department of Development’s Minority Business Enterprise Program and Capital Access Loan Program for small businesses. Credit union members would have access to linked deposit programs from the Treasurer of State, including GrowNow, SaveNow, Ag Link, ECO Link and Bid Ohio, the league added. Credit union leaders have met with State Rep. Nancy Garland (D-New Albany), a co-sponsor; State Rep. Ted Celeste (D-Grandview Heights), and State Sen. Tom Patton (R-Strongsville). During a meeting with Ujvagi, credit union leaders thanked him for supporting the legislation.


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