WASHINGTON (4/9/12)--The Credit Union National Association (CUNA) and state credit union leagues are today letting small business-owning listeners that have had trouble accessing loans know that "credit unions are ready to lend a hand," and will have more money to lend to them, once Congress moves to increase the credit union member business lending cap.
CUNA and the Mountain West Credit Union Association, the Virginia Credit Union League, the Credit Union Association of the Dakotas, the Nebraska Credit Union League, the Wisconsin Credit Union League, the South Carolina Credit Union League, the Iowa Credit Union League, the League of Southeastern Credit Unions, the Mississippi Credit Union Association, and the Idaho Credit Union League are sponsoring radio ads in key states.
The ads seek to increase public support in key markets for legislation that would increase the MBL cap from 12.25% of assets to 27.5% of assets.
Listeners are encouraged to call their senators and ask them to support Senate MBL cap increase legislation. A senate bill that would increase the MBL cap, injecting $13 billion in new funds into the economy and creating 140,000 new jobs, is expected to come up for a vote in the Senate once Congress returns from their spring district work period.
Many of the ads use testimony from local business owners that have been denied by banks, but helped by credit unions.
The ads are scheduled to run in Arizona, Virginia, Wisconsin, Iowa, Alabama, Nebraska, South Dakota, South Carolina, and Idaho radio markets, and are part of an array of in-district activity.
CUNA has urged credit unions to use the current April District Work Break as an opportunity to meet with lawmakers in their home offices, attend town-hall type meetings, and use every opportunity to get across the credit union message that increasing the member business lending cap is good for small businesses and therefore good for the economy.