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News Now

Washington
MBL fight goes interactive
WASHINGTON (9/9/10)--With grassroots member business lending activism in full swing ahead of the U.S. Congress’s pending return to Washington, the Credit Union National Association (CUNA) has again taken the fight for increased MBL cap to the internet.
CUNA will use the geographically-targeted, web-based ads to drive traffic to its own MBL direct advocacy page. That page will put readers in touch with the resources needed to directly express their support for MBL legislation to their legislators. One of the many sites that the ads will appear on is the political news site dailycaller.com, which also published a pro-MBL editorial by CUNA President/CEO Bill Cheney earlier this week. CUNA has also actively promoted lifting the MBL cap through facebook and other online media sources. Legislation that would lift the MBL cap from the current 12.25% of assets threshold to 27.5% of a credit union’s total assets has been proposed by Sen. Mark Udall (D-Colo.). CUNA has estimated that lifting the MBL cap to 27.5% of total assets could provide up to $10 billion in new funding to small businesses and create over 100,000 new jobs in the first year following enactment. Cheney has targeted this week as a pivotal opportunity to increase Senate support before the U.S. Congress returns on Sept. 14, and credit union supporters and state leagues have written letters to editors, submitted their own editorials to local press, and directly contacted their legislators through in-district town hall meetings. CUNA this week will also meet directly with President Obama's economic advisors to seek their support for lifting the MBL cap. A small business jobs package, which could still include the MBL legislation, is expected to be voted on by the Senate next week.


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