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News Now

Washington
CUs can help put Americans to work says Perlmutter
WASHINGTON (2/25/10)--It’s time to put more Americans to work and
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that’s where credit unions come in, Rep. Ed Perlmutter (D-Colo.) said Wednesday. “We need to get money to small businesses so they can put people back to work,” he said, confirming his support for easing limitations on credit union member business lending. He was addressing the Credit Union National Association's Governmental Affairs Conference, which has drawn more than 4,000 credit union representatives to Washington, D.C. Perlmutter noted the nation’s ongoing economic challenges, but urged attendees not to forget the turmoil from which the United States has emerged:
* From 2007 to February 2009, the Dow Jones Industrial fell 7,000 points. During 2009, it gained 4,000 points; * In the fall of 2008, Fannie Mae and Freddie Mac went into conservatorship and there were several major bank failures; and * In January 2009, the economy lost 785,000 jobs. In January 2010, 20,000 jobs were lost. “That’s not good, but it’s much better,” Perlmutter said.
“There’s a light at the end of the tunnel,” he continued. “You’ll serve a great purpose in getting us to that light.” Perlmutter thanked Colorado credit unions for supporting his political career from the start, beginning with a 2004 run for the state senate. “In Colorado, if you have credit unions’ support, it’s hard not to win a campaign. There a lot of Colorado credit union people here today, and they know they have a friend in me.”


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