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News Now

CU System
Public funds a continued priority for Ohio CUs
DUBLIN, Ohio (1/4/10)--Passing state legislation to allow Ohio credit unions to become eligible depositories for public funds will continue to be a key priority for 2010, says the Ohio Credit Union League in its eLumination Newsletter (Dec. 30). The legislation, House Bill 317, will go before the second half of the 128th Ohio General Assembly. The bill is jointly sponsored by Majority Floor Leader Tracy Maxwell Heard (D-Columbus) and State Rep. Peter Ujvagi (D-Toledo), along with 20 co-sponsors. H.B. 317 would include credit unions as a choice of eligible depositories for the state, communities, schools and other public entities. It also would allow them 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 through their credit unions to linked deposit programs from the Treasurer of State, including GrowNow, SaveNow, Ag Link, ECO Link, and Bid Ohio.


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