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News Now

CU System
Ohio league works to add public funds to bill
DUBLIN, Ohio (6/1/09)--As a state budget bill progresses through the Ohio Senate, the Ohio Credit Union League continues working to include credit unions as eligible depositories of public funds. According to the league, the Omnibus Budget Amendment passed last month by the state House included an amendment that added federal savings associations and savings banks as eligible depositories for public funds. Credit unions currently are excluded from the list of depositories (eLumination Newsletter May 27). The league communicated the inequity to members of the Senate and asked for the same deference. It also delivered letters to members of the Senate and sent an Action Alert to Ohio credit union officials. Amendments are under consideration, the league said. "This issue isn't about credit unions and other depositories. It is about the people, the businesses and the public entities in Ohio," league General Counsel John Kozlowski said in the newsletter. "They should have a choice of where they can deposit funds, and where they can participate in programs through Ohio's Treasurer's Office," he added.


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