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News Now

Washington
New CUNA ads tout MBLs to Hill audience
WASHINGTON (9/14/11)—Credit Union National Association (CUNA)-sponsored ads noting the economic promise, and bipartisan appeal, of lifting the credit union member business lending cap will begin running next week in Capitol Hill newspapers and the Washington regional edition of the Wall Street Journal.
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The ads, which are headlined “A jobs program both Republicans and Democrats can love” and “With 58 bills to create jobs pending in Congress, only S. 509 and H.R. 1418 would create 140,000 new jobs at no cost to taxpayers,” feature business borrowers from credit unions. The D.C.-based publications that the ad will run in include Roll Call, Politico, The Hill, Congress Daily AM, Congressional Quarterly (CQ), and National Journal. "With more than half of the states sending credit union delegations through their Leagues to Washington over the next six or seven weeks for ‘Hike the Hill’ visits, we have a significant opportunity to make a strong impact in support of these bills," said Richard Gose, CUNA senior president of political affairs. "The ads will work in tandem with the credit union representatives, as a reminder to members of Congress and their staff members of the importance of this legislation to credit unions." The ads will run in to the month of October. Sen. Mark Udall (D-Colo.) has introduced S. 509 in the Senate and Rep. Ed Royce (R-Calif.) has introduced H.R. 1418 in the House. Both bills would increase the MBL cap to 27.5% of assets, up from the current 12.25%. CUNA has estimated that lifting the cap to 27.5% of assets would inject $13 billion in new funds into the economy and create 140,000 new jobs, at no cost to taxpayers.


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