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News Now

CU System
Ohio public funds bill in first hearing Wednesday
COLUMBUS, Ohio (1/29/10)--Legislation that would allow Ohio credit unions to receive public funds from schools, townships, cities and other entities will have its first hearing Wednesday before a state legislative committee. The hearing on House Bill 317 will be conducted before the Ohio House of Representatives Financial Institutions Real Estate & Securities Committee, according to the Ohio Credit Union League (eLumination Jan. 27). Testimony will be presented by State Rep. and Majority Floor Leader Tracy Heard (D-Columbus) and State Rep. Peter Ujvagi (D-Toledo), who are joint sponsors of the bill. The league said it is encouraging Ohio credit union leaders to attend any hearings on the bill to demonstrate widespread support for it. The bill also would allow credit unions to participate in the Ohio Department of Development’s Minority Business Enterprise Program and Capital Access Loan program for small businesses. If passed, members would have access to linked deposit programs from state entities through their credit unions, the league said.


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